Note: This version of section effective until 7-1-2028. See also following version of this section, effective 7-1-2028.

1. (1) the amount reported on individual income tax returns processed by the department during the previous fiscal year;
2. (2) adjustments for over distributions in prior years;
3. (3) adjustments for clerical or mathematical errors in prior years; and
4. (4) adjustments for tax rate changes.

Sec. 9. The budget agency shall provide the adopting body with an informative summary of the calculations used to determine the certified distribution. The summary of calculations must include:

As added by P.L.243-2015, SEC.10. Amended by P.L.197-2016, SEC.66; P.L.257-2019, SEC.72.