{"data":{"id":"us-in/ic-6-1.1-21.5-3","jurisdiction":"us-in","citation":"IC 6-1.1-21.5-3","heading":"Loan application; prerequisites to grant of loan","body":"Sec. 3. Before January 1, 2002, a qualified taxing unit may apply to the board for a loan from the counter-cyclical revenue and economic stabilization fund. The board may make a loan from the fund to the taxing unit if:\n(1) a taxpayer with tangible property subject to taxation by the qualified taxing unit has filed a petition to reorganize under the federal bankruptcy code;\n(2) the taxpayer has defaulted on one (1) of its property tax payments;\n(3) the qualified taxing unit has experienced and will continue to experience a significant revenue shortfall as a result of the default; and\n(4) the taxpayer is a steel manufacturer that owns at least eighteen percent (18%) of the assessed value within the taxing unit.","path":["TITLE 6. TAXATION","ARTICLE 1.1. PROPERTY TAXES","Chapter 21.5. Loans to Qualified Taxing Units"],"source_url":"https://iga.in.gov/ic/2026/Title_6.html#6-1.1-21.5-3","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-09T01:51:39Z","sha256":"fff81e44980ffb785031641d3a52de74a78b7f9e33fffaaaa50794fa6d5cf9cf","source_id":"us-in","stale":false,"prev":"us-in/ic-6-1.1-21.5-2","next":"us-in/ic-6-1.1-21.5-4"},"notice":"GroundRules: Original legal text. Not legal advice."}