Sec. 0.5. As used in this chapter, “associate member” refers to a county or municipality that adopted an ordinance or resolution under section 16 of this chapter specifying that the county or municipality has chosen to become an associate member. As added by P.L.189-2018, SEC.178.
Sec. 1. As used in this chapter, “base assessed value” means: (1) the net assessed value of all the taxable property located in a transit development district as finally determined for the assessment date immediately preceding the effective date of the resolution adopted under this chapter establishing the particular district; plus (2) to the extent […]
Sec. 10. As used in this chapter, “local income tax increment revenue” means the remainder of: (1) the total amount of local income tax (IC 6-3.6) paid by employees employed in the district with respect to wages and salary earned for work in the territory comprising the district for a particular calendar year; minus (2) […]
Sec. 11. As used in this chapter, “property tax increment revenue” means the property taxes attributable to the assessed value of property located in a district in excess of the base assessed value. As added by P.L.248-2017, SEC.10.
Sec. 12. As used in this chapter, “rail project” refers to the following: (1) The mainline double tracking project. (2) The West Lake corridor project. As added by P.L.248-2017, SEC.10.
Sec. 13. As used in this chapter, “state income tax base period amount” means the aggregate amount of state adjusted gross income taxes paid or remitted by or on behalf of employees employed within a district during the calendar year that precedes the date on which the district was established under this chapter with respect […]
Sec. 14. As used in this chapter, “state income tax increment revenue” means the remainder of: (1) the aggregate amount of state adjusted gross income taxes paid or remitted during a calendar year with respect to wages and salary earned for work in the territory comprising a district; minus (2) the state income tax base […]
Sec. 15. There is created a rail transit development corridor that consists of the geographic area that is within five-tenths (0.5) of a mile of the following rail lines that are a part of the Northern Indiana Commuter or South Bend Railway: (1) The Chicago to South Bend line. (2) The Hammond to Dyer line, […]
Sec. 16. (a) A county that is not a member of the development authority, along with municipalities within the county, may financially participate in the mainline double tracking project and receive the same benefits a member would receive under this chapter. To financially participate, a county may become an associate member of the development authority […]
Sec. 16.5. (a) This section applies to an associate member or cash participant that has committed to: (1) make a cash payment to the development authority; or (2) provide revenues to the development authority annually to make debt service payments annually for the life of any: (A) bonds or obligations issued; or (B) leases entered […]
Sec. 17. (a) The development authority may establish a transit development district and may expand a district. Before establishing a transit development district, the development authority shall consult with the municipality in which the district will be located. To establish or expand a district the development authority must hold at least two (2) public hearings […]
Sec. 18. If a district is established, the following apply to the administration and use of incremental property tax revenue by the development authority, or a redevelopment commission in the case of a district located in a cash participant county, in the district: (1) The department of local government finance shall adjust the base assessed […]
Sec. 19. (a) There is established a steering committee to provide information and guidance to the development authority on development within the districts located in a member county. (b) The steering committee is comprised of one (1) individual appointed by the executive of each municipality located in a member county in which a district could […]
Sec. 2. As used in this chapter, “budget agency” means the budget agency established by IC 4-12-1-3. As added by P.L.248-2017, SEC.10.
Sec. 2.5. As used in this chapter, “cash participant” refers to a county or municipality that has adopted an ordinance or resolution under section 16 of this chapter specifying that the county or municipality has chosen to become a cash participant. As added by P.L.189-2018, SEC.179.
Sec. 20. (a) If a district is established in a member county, the development authority shall create a south shore improvement and development fund. The development authority shall establish a separate account in the fund for each district. If more than one (1) municipality has territory within the district, a subaccount shall be established for […]
Sec. 21. (a) If a district is established, the county auditor in each county in which the district is located shall distribute to the development authority, or the redevelopment commission that would otherwise receive the incremental property tax revenues under IC 36-7-14 in the case of a cash participant county, the lesser of: (1) the […]
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 […]
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 […]
Sec. 24. (a) If a district is established, the development authority shall provide to the department and to each redevelopment commission with a tax allocation area included within the district the following: (1) A certified copy of the resolution establishing the district. (2) Street names and the range of street numbers of each street in […]
