{"data":{"id":"us-in/ic-6-1.1-21.8-3","jurisdiction":"us-in","citation":"IC 6-1.1-21.8-3","heading":"Loan application; prerequisites to grant of loan","body":"Sec. 3. A qualified taxing unit may apply to the board for one (1) or more loans from the counter-cyclical revenue and economic stabilization fund. The board may make a loan from the fund to the qualified 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) or more 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.","path":["TITLE 6. TAXATION","ARTICLE 1.1. PROPERTY TAXES","Chapter 21.8. Rainy Day Fund Loans to Qualified Taxing Units"],"source_url":"https://iga.in.gov/ic/2026/Title_6.html#6-1.1-21.8-3","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-09T01:51:39Z","sha256":"e8785604d73bd83725bc8f476934fe51f175ea0cc740bb9722379f56b12bb60d","source_id":"us-in","stale":false,"prev":"us-in/ic-6-1.1-21.8-2","next":"us-in/ic-6-1.1-21.8-4"},"notice":"GroundRules: Original legal text. Not legal advice."}