1 of this chapter from July 1 of the current year through June 30 of the next year will be less than three hundred thirty thousand dollars ($330,000) on June 30 in an odd-numbered year after the payment of all claims and expenses, the plumbing commission shall assess a surcharge according to the following formula in order to maintain the fund at an approximate level of four hundred thousand dollars ($400,000):STEP ONE: Determine the amount remaining in the fund on June 30 of the current year after all expenses and claims have been paid.STEP TWO: Add to the amount determined under STEP ONE the amount of revenue estimated from the fee assessed under section 2.1 of this chapter from July 1 of the current year through June 30 of the next year.STEP THREE: Subtract the amount determined under STEP TWO from four hundred thousand dollars ($400,000).STEP FOUR: Determine the number of plumbing contractors who had licenses in effect on June 30 of the current year.STEP FIVE: Divide the number determined under STEP THREE by the number ars ($400,000).STEP FOUR: Determine the number of plumbing contractors who had licenses in effect on June 30 of the current year.STEP FIVE: Divide the number determined under STEP THREE by the number determined under STEP FOUR.(b) The plumbing commission shall assess the surcharge described in subsection (a) against each plumbing contractor who:(1) receives an initial license; or(2) receives a renewal license.(c) The plumbing commission shall assess the surcharge described in subsection (a) for the two (2) year period beginning on July 1 of the current year through June 30 of the next odd-numbered year.(d) The surcharge assessed under this section is in addition to any other fee under this article.As added by P.L.260-1987, SEC.1. Amended by P.L.143-1990, SEC.6.
Indiana Legal Code