Indiana § 36-1-8-9.5 "Development agreement"

Indiana Statutes

§ 36-1-8-9.5 — "Development agreement"

Indiana § 36-1-8-9.5

Title 36LOCAL GOVERNMENT

Art. 1GENERAL PROVISIONS

Ch. 8Miscellaneous Fiscal and Administrative Provisions

This text of Indiana § 36-1-8-9.5 ("Development agreement") is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 36-1-8-9.5 (2026).

Text

5.

(a)As used in this section, "development agreement" means an agreement between a licensed owner (as defined in IC 4-33-2-13) and a unit setting forth the licensed owner's financial commitments to support economic development in the unit.

(b)Funds received by a unit under a development agreement are public funds (as defined in IC 5-13-4-20).

(c)Funds received under a development agreement:

(1)may not be used to reduce the unit's maximum levy under IC 6-1.1-18.5 but may be used at the discretion of the unit to reduce the property tax levy of the unit for a particular year;

(2)may be used for any legal or corporate purpose of the unit, including the pledge of money to bonds, leases, or other obligations under IC 5-1-14-4; and

(3)are considered miscellaneous revenue.

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5. (a) As used in this section, "development
agreement" means an agreement between a licensed owner (as defined
in IC 4-33-2-13) and a unit setting forth the licensed owner's financial
commitments to support economic development in the unit.
(b) Funds received by a unit under a development agreement are
public funds (as defined in IC 5-13-4-20).
(c) Funds received under a development agreement:
(1) may not be used to reduce the unit's maximum levy under IC 6-1.1-18.5 but may be used at the discretion of the unit to reduce
the property tax levy of the unit for a particular year;
(2) may be used for any legal or corporate purpose of the unit,
including the pledge of money to bonds, leases, or other
obligations under IC 5-1-14-4; and
(3) are considered miscellaneous revenue.