Sec. 16. (a) This section applies to a political subdivision if:
(1) the political subdivision enters into an agreement with one (1) or more other political subdivisions under this chapter to transfer, combine, or share powers, duties, functions, or resources; and
(2) the political subdivision realizes through the transfer, combination, or sharing of powers, duties, functions, or resources a:
(A) savings; or
(B) reduction in the reasonably foreseeable expenses that would otherwise have been incurred by the political subdivision if the transfer, combination, or sharing of powers, duties, functions, or resources had not taken place.
(b) The political subdivision shall specify in the agreement described in subsection (a) the amount (if any) of the decrease that the department of local government finance shall make to the maximum permissible property tax levies, maximum permissible property tax rates, and budgets under IC 6-1.1-17 and IC 6-1.1-18.5 of the political subdivision to:
(1) eliminate double taxation by different political subdivisions for services; or
(2) eliminate any excess by which the amount of property taxes imposed by the political subdivision exceeds the amount necessary to pay for services.
(c) The fiscal body of the political subdivision shall determine and certify to the department of local government finance the amount of the adjustment (if any) to be made under subsection (b). The amount of the adjustment (if any) to be made under subsection (b) must comply with the agreement under this chapter under which the political subdivision transfers, combines, or shares powers, duties, functions, or resources.
As added by P.L.58-2011, SEC.1. Amended by P.L.255-2013, SEC.2.
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