{"data":{"id":"us-in/ic-25-28.5-2-2","jurisdiction":"us-in","citation":"IC 25-28.5-2-2","heading":"Surcharge; formula; assessments","body":"Sec. 2. (a) If the total amount in the plumbers recovery fund (including principal and interest) plus estimated revenues 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 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):\nSTEP ONE: Determine the amount remaining in the fund on June 30 of the current year after all expenses and claims have been paid.\nSTEP 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.\nSTEP THREE: Subtract the amount determined under STEP TWO from four hundred thousand dollars ($400,000).\nSTEP FOUR: Determine the number of plumbing contractors who had licenses in effect on June 30 of the current year.\nSTEP FIVE: Divide the number determined under STEP THREE by the number determined under STEP FOUR.\n(b) The plumbing commission shall assess the surcharge described in subsection (a) against each plumbing contractor who:\n(1) receives an initial license; or\n(2) receives a renewal license.\n(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.\n(d) The surcharge assessed under this section is in addition to any other fee under this article.","path":["TITLE 25. PROFESSIONS AND OCCUPATIONS","ARTICLE 28.5. PLUMBERS","Chapter 2. Plumbers Recovery Fund"],"source_url":"https://iga.in.gov/ic/2026/Title_25.html#25-28.5-2-2","current_through":"2026","vintage":"2026","retrieved_at":"2026-10-06T20:43:28Z","sha256":"18ca8e2480ca0e74fe957421a88e3f540705cc8a64754ec3eaeee9fff61156fb","source_id":"us-in","stale":false,"prev":"us-in/ic-25-28.5-2-1","next":"us-in/ic-25-28.5-2-2.1"},"notice":"GroundRules: Original legal text. Not legal advice."}