(b) Subject to subsection (d), the county treasurer, after collecting the tax revenue in accordance with section 5 of this chapter, shall quarterly deposit tax revenue in the sports complex fund as follows:(1) If the tax is imposed at a rate of six percent (6%), sixty percent (60%) of the amount of revenue collected as a result of a one percent (1%) rate.(2) If the county fiscal body adopts an ordinance to increase the tax rate imposed under this chapter to a rate of more than six percent (6%), but less than eight percent (8%), the sum of:(A) twenty percent (20%) of the amount of revenue that is attributable to the increased tax rate; plus(B) sixty percent (60%) of the amount of revenue collected as a result of a one percent (1%) rate.(3) If the county fiscal body adopts an ordinance to increase the tax rate imposed under this chapter to a rate of eight percent (8%), the amount of revenue collected as a result of a one percent (1%) rate.(c) Money in the sports complex fund shall be expended by the board of managers to develop and operate an indoor sports complex located unt of revenue collected as a result of a one percent (1%) rate.(c) Money in the sports complex fund shall be expended by the board of managers to develop and operate an indoor sports complex located in the city of Mishawaka.(d) This section expires on July 1, 2046.As added by P.L.108-2019, SEC.138. Amended by P.L.69-2021, SEC.4.
Indiana Legal Code