(a) The purpose of this section is to amend the duration of Celina Ordinance 55-10-0 which levied a tax on income at the rate of one-half of one percent (1/2%) effective January 1, 2011, as amended and modified by Celina Ordinance 61-15-0 which levied a tax on income at the rate of one-half of one percent (1/2%) effective January 1, 2016 and which expires on December 31, 2022 in order to provide funds via a tax on income at the rate of one-half of one percent (1/2%), in addition to the one percent (1%) which was levied and collected as of December 31, 2010, as follows: For the operational expenses, capital equipment purchases and capital improvements in support of the City's Safety Departments of Fire and Police for a period, as well as to also provide the City the authority to use these funds for the additional purposes of making public right-of-way improvements to City streets, curbs, sidewalks, alleys, and for items and materials which are incidental and related to any such public right-of-way improvements within the City, for an amended duration of time for a period of seven (7) years, beginning January 1, 2023 and ending on December 31, 2029.
(b) An annual income tax for the amended duration as specified in subsection (a) hereof (the "amended tax") shall be imposed at the rate of five-tenths of one percent (.5%) per annum in addition to the one percent (1%) which was levied and collected as of December 31, 2010 with collection of the same beginning January 1, 2023 and ending on December 31, 2029.
(c) Said Celina Ordinance 55-10-0 which levied a tax on income at the rate of one-half of one percent (½%) effective January 1, 2011, as amended and modified by Celina Ordinance 61-15-0 which levied a tax on income at the rate of one-half of one percent (½%) effective January 1, 2016 and which expires on December 31, 2022, is hereby amended as to its duration as specified in subsection (a) hereof (the "amended tax"), and said "amended tax" approved herein shall be levied, collected, and paid with respect to the salaries, wages, commissions, and other compensation on and after January 1, 2023, and with respect to the net profits of businesses, professions or other activities earned on or after January 1, 2023. Provided, however, that where the fiscal year of the business, profession or other activity differs from the calendar year, the "amended tax" shall be applied to that part of the net profits for the fiscal year as shall be earned on or after January 1, 2023, to the close of the taxpayer's fiscal year. Thereafter, the taxpayer shall report on its fiscal year basis.
(d) Except for the allocation of funds for this "amended tax" as set forth above, all of the Sections of Chapter 182 of the Code of Ordinances of the City of Celina pertaining to the Income Tax shall apply to the tax levied under this Section.
(e) The Income Tax Rules and Regulations adopted by the City of Celina pursuant to Chapter 182 of the Celina Code of Ordinances shall apply to the "amended tax" income tax levied under this Section.
(f) This Section shall continue to be effective as the levy of taxes is concerned through December 31, 2029 and insofar as the collection of taxes levied in the aforesaid period and action or proceedings for collection of any tax so levied or enforcing any provisions of this Section are concerned and shall continue effective until all said taxes levied in the aforesaid period are fully paid and any and all suits and transactions for the collection of said taxes or for the punishment of violations of this Section shall have been terminated. Provided, however, that annual returns for the year ending December 31, 2029 shall be filed on or before April 15th of the following year and any tax shown due thereon for part of the year ending December 31, 2029 that is unpaid and collected under the provisions hereof, shall be paid on said date except in those cases in which the time for filing returns and/or payment of the tax due has been extended in accordance with the rules and regulations.
(g) The Auditor is hereby authorized and directed to create Restricted Funds, prior to January 1, 2023, for all proceeds collected in accordance with the "amended tax".
(Ord. 15-22-O. Passed 5-23-22.)