(A) The Lake County Council now establishes the Auditor's County Commissioners Property Tax Sale Surplus Fund, a Non-Reverting Fund, for the distribution of any surplus generated by a County Commissioner Tax Certificate Sale.
(B) The County Treasurer shall place the portion of a tax or special assessment payment which exceeds the amount actually due, as shown by the tax duplicate or special assessments records, in the "Auditor's County Commissioners Property Tax Sale Surplus Fund", a non-reverting fund; amounts placed in the Fund shall first be applied to the taxpayer's delinquent taxes in the manner provided in I.C. 6-1.1-24-6.4(a) and (b).
(C) Pursuant to I.C. 6-1.1-24-74(c) a claim for money deposited in the Fund can be made and if approved by the Auditor and Treasurer, the Auditor shall issue a warrant to the claimant for the amount due.
(D) Unless the redemption period specified under I.C. 6-1.1-25 has been extended under federal bankruptcy law, an amount deposited in the Auditor's County Commissioners Property Tax Sale Surplus Fund shall be transferred by the Auditor to the County General Fund and may not be disbursed under I.C. 6-1.1-24-6.4(d) if it is not claimed within the three-year period after the date of its receipt.
(E) Any money remaining in the Fund at the end of the year shall not revert to the General Fund but continue in the Auditor's County Commissioners Property Tax Sale Surplus Fund, subject to appropriation by the Lake County Council, or as otherwise provided by law.
(Ord. 1478G, passed 12-13-2022)