DLGF Publishes Memorandum on Fire Equipment Replacement Funds

MEMORANDUM

 

TO:                 All Fire Protection Territory Provider and Participating Units

FROM:           Micah G. Vincent, Commissioner

RE:                  Fire Equipment Replacement Fund

DATE:            May 17, 2013

 

On May 11, 2013, Governor Mike Pence signed into law Senate Enrolled Act 459 (“SEA 459”). Section 16 amends IC 36-8-19-8.5, the statute governing the fire equipment replacement fund, to make the establishment or reestablishment of a fire equipment replacement fund subject to the procedures governing cumulative funds under IC 6-1.1-41. The amendment took effect May 11, 2013. Please note, this memorandum is intended to be an informative bulletin; it is not a substitute for reading the law.

In addition to complying with the requirements of IC 36-8-19-8.5 for establishing an equipment replacement fund, before adopting the ordinance or resolution, each participating unit must comply with the notice and hearing requirements of IC 6-1.1-41-3. An ordinance or a resolution adopted thereby takes effect as provided in IC 6-1.1-41.

Under IC 36-8-19-8.5, as amended, the requirements and procedures specified in IC 6-1.1-41 concerning the establishment or reestablishment of a cumulative fund, the imposing of a property tax for a cumulative fund, and the increasing of a property tax rate for a cumulative fund apply to:
        (1) the establishment or reestablishment of a fund;
        (2) the imposing of a property tax for a fund; and
        (3) the increasing of a property tax rate for a fund.
Notwithstanding IC 6-1.1-18-12, if a fund is reestablished in the manner provided in IC 6-1.1-41, the property tax rate imposed for the fund in the first year after the fund is reestablished may not exceed $0.0333 per $100 of assessed value.

http://www.in.gov/dlgf/files/130517_-_Vincent_Memo_-_Fire_Equipment_Replacement_Fund.pdf