Section 6-9-10.5-7 - Lake enhancement fund; deposit of revenue(a) If a tax is levied under section 6 of this chapter, the county treasurer shall establish a lake enhancement fund. Except as provided in subsection (c) and section 8 of this chapter, the county treasurer shall deposit in this fund all amounts received under section 6 of this chapter.(b) Money in this fund may be expended only to enhance lakes located in the county, including silt trap maintenance.(c) This subsection applies if the tax levied under section 6 of this chapter is increased by an ordinance adopted by the county fiscal body after June 30, 2011. The county treasurer shall deposit in the lake enhancement fund: (1) the amount received under section 6 of this chapter; multiplied by(2) a fraction, the numerator of which is three (3) and the denominator of which is the product of:(A) the tax rate in effect after the adoption of the ordinance to increase the tax; multiplied byAmended by P.L. 172-2011, SEC. 103, eff. 7/1/2011.As added by P.L. 68-1997, SEC.1.