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:
- (1) the amount reported on individual income tax returns processed by the department during the previous fiscal year;
- (2) adjustments for over distributions in prior years;
- (3) adjustments for clerical or mathematical errors in prior years;
- (4) adjustments for tax rate changes; and
- (5) the amount of excess account balances to be distributed under section 15 of this chapter.
As added by P.L.243-2015, SEC.10. Amended by P.L.197-2016, SEC.66.