1. (a) This section applies only to the city of Wabash.
2. (b) The executive of the city may, upon approval by the fiscal body of the city, submit a petition to the department of local government finance for an increase in the city's maximum permissible ad valorem property tax levy under IC 6-1.1-18.5 for property taxes due and payable in 2021. A petition must be submitted not later than September 1, 2020.

3. (c) If a petition is submitted under subsection (b), the department of local government finance shall increase the city's maximum permissible ad valorem property tax levy under IC 6-1.1-18.5 for property taxes due and payable in 2021. The amount of the increase under this section is equal to the difference between:

   1. (1) the lesser of:

      1. (A) the city's maximum permissible ad valorem property tax levy under IC 6-1.1-18.5 for property taxes due and payable in 2020; or
      2. (B) the ad valorem property tax levy adopted by the city fiscal body for property taxes due and payable in 2020; and
   2. (2) the city's ad valorem property tax levy as certified by the department of local government finance for property taxes due and payable in 2020.
4. (d) The adjustment under this section is a temporary, one (1) time increase to the city's maximum permissible ad valorem property tax levy for purposes of IC 6-1.1-18.5 .
5. (e) This section expires June 30, 2023.

As added by P.L.159-2020, SEC.30.