Note: This version of section effective until 1-1-2028. See also following version of this section, effective 1-1-2028. Sec. 5.5. (a) This section applies to Lake County for purposes of categorizations, allocations, and distributions of additional revenue that is allocated each year for economic development purposes under IC 6-3.6-6-9 and of certified shares under IC 6-3.6-6 . Additional revenue that is allocated each year for economic development purposes by a civil taxing unit listed in IC 6-3.6-9-5 (d) must first be used to provide funding for a rail project (as defined in IC 36-7.5-1-13.5 ). (b) Before the state comptroller may make a certified distribution of additional revenue allocated for economic development purposes under IC 6-3.6-6-9 , the state comptroller shall withhold the total amount determined by the department of local government finance under IC 6-3.6-9-5 (d) from the certified distribution allocated to economic development. The amount withheld by the state comptroller under this section shall be paid to the secretary-treasurer of the northwest Indiana regional development authority ( IC 36-7.5 ) before a certified distribution allocated to economic development is made to the county and before the county auditor may otherwise allocate or distribute tax revenue under this article. IC 6-3.6-11-5.5 Lake County; rail project; general purpose revenue allocated for economic development Note: This version of section effective 1-1-2028. See also preceding version of this section, effective until 1-1-2028. Sec. 5.5. (a) This section applies to Lake County for purposes of categorizations, allocations, and distributions of general purpose revenue that is allocated each year for economic development purposes. General purpose revenue that is allocated each year for economic development purposes by a civil taxing unit listed in IC 6-3.6-9-5 (b) must first be used to provide funding for a rail project (as defined in IC 36-7.5-1-13.5 ). (b) Before the state comptroller may make a certified distribution of general purpose revenue allocated for economic development purposes, the state comptroller shall withhold the total amount determined by the department of local government finance under IC 6-3.6-9-5 (b) from the certified distribution allocated to economic development. The amount withheld by the state comptroller under this section shall be paid to the secretary-treasurer of the northwest Indiana regional development authority ( IC 36-7.5 ) before a certified distribution allocated to economic development is made to the county and before the county auditor may otherwise allocate or distribute tax revenue under this article.
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