36-7.5-4.5-26. Annual Reporting Requirement for Retail Merchants Operating in a Transit Development District; Duty of Development Authority and Political Subdivisions to Provide Information
Sec. 26. (a) Retail merchants operating in the district shall report, in the manner and in the form prescribed by the department, information that the department determines necessary to calculate the gross retail tax base period amount or gross retail tax increment revenue. (b) At the request of the department, the development authority and any […]
36-7.5-4.5-27. Local Income Tax Increment Fund; Deposit of Local Income Tax Increment Revenue in an Account Within the Fund for Each Transit Development District
Sec. 27. (a) If a district is established, the treasurer of state shall establish a local income tax increment fund and an account for each district established under this chapter for deposit of local income tax increment revenue for that district. (b) The funds shall be administered by the treasurer of state. Money in a […]
36-7.5-4.5-28. Certification and Distributions From Transit Development District Account
Sec. 28. (a) Not later than sixty (60) days after receiving a copy of the resolution establishing a district, the department shall determine the following for that district: (1) The state income tax base period amount. (2) The gross retail tax base period amount. (3) The local income tax base period amount. (b) Before October […]
36-7.5-4.5-29. Expenses; Liabilities; Obligations
Sec. 29. All expenses incurred in carrying out this chapter are payable solely from revenue received under this chapter or from the proceeds of the financial instruments issued by the development authority payable from revenues received under this chapter. A liability or obligation may not be incurred by the development authority that is greater than […]
36-7.5-4.5-30. Chapter Broadly Construed
Sec. 30. (a) It is the intent of this chapter to identify all gross retail tax increment revenue collected within districts and state and local income tax increment revenue attributable to districts. This section shall be broadly construed by the department to achieve the purposes of this chapter. (b) The department shall adopt guidelines to […]
36-7.5-4.5-31. Distribution of Remaining Money Upon Completion
Sec. 31. On the date that all financing obligations for a development project in a district established in a member county are no longer considered outstanding and all expenses incurred by the development authority in connection with the exercise of the development authority’s duties and obligations set forth in this chapter have been paid, all […]
36-7.5-4.5-32. Covenants
Sec. 32. The general assembly covenants that this chapter will not be repealed or amended in a manner that will adversely affect the owners of the financial instruments issued under this chapter by the development authority or redevelopment commission. As added by P.L.248-2017, SEC.10.
36-7.5-4.5-33. Expiration
Sec. 33. This chapter expires June 30, 2047. As added by P.L.248-2017, SEC.10.
36-7.5-4.5-22. Duty to Maximize Amounts Distributed to Political Subdivisions That Would Otherwise Receive the Revenue; Public Meeting
Sec. 22. The development authority or redevelopment commission, in the case of a district located in a cash participant county, shall use its best efforts to maximize the amount of local income tax increment revenue and property tax increment revenue that will be distributed to the political subdivisions that would otherwise receive the revenue, taking […]
36-7.5-4.5-23. Funding of Development Projects Within a Transit Development District; Uses
Sec. 23. (a) The development authority or redevelopment commission may undertake or provide funding for a development project that will be located within a district. (b) The development authority or redevelopment commission may use money in its south shore improvement and development fund to provide funding and pay costs for a development project, including in […]