Sec. 7. (a) If a tax is imposed under this chapter, the county legislative body shall establish a county admissions tax fund.
(b) The county treasurer shall deposit money received under section 6 of this chapter in the county admissions tax fund.
(c) Money earned from the investment of money in the admissions tax fund becomes a part of the fund.
(d) Money in the county admissions tax fund may be used by the county only for the following:
(1) Providing financial assistance, including grants, loans, and guarantees, for private enterprise to complete economic development projects in the county.
(2) Retiring bonds issued under Indiana law.
(3) Paying lease rentals under Indiana law.
(4) Paying the operating expenses of a governmental entity that plans or implements economic development projects.
As added by P.L.19-1994, SEC.13. Amended by P.L.28-1997, SEC.28.