Indiana § 36-7-13-10.7 Calculation of net increment for preceding fiscal year; funds and
accounts; limitation on amounts received by city

Indiana Statutes

§ 36-7-13-10.7 — Calculation of net increment for preceding fiscal year; funds and accounts; limitation on amounts received by city

Indiana § 36-7-13-10.7

Title 36LOCAL GOVERNMENT

Art. 7PLANNING AND DEVELOPMENT

Ch. 13Industrial Development

This text of Indiana § 36-7-13-10.7 (Calculation of net increment for preceding fiscal year; funds and accounts; limitation on amounts received by city) 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 § 36-7-13-10.7 (2026).

Text

7.

(a)This section applies to a district designated under section 10.5 of this chapter and approved by the budget agency before January 1, 2002, in a city having a population of more than twenty-eight thousand (28,000) and less than twenty-nine thousand (29,000).

(b)An area is added to and becomes part of a district described in subsection (a) if the area consists of property that:

(1)is located in a city having a population of more than twenty-eight thousand (28,000) and less than twenty-nine thousand (29,000); and

(2)experienced a loss of at least three hundred (300) jobs during the calendar year ending December 31, 2001.

(c)After the addition of property to a district described in subsection (a) under this section, the gross retail base period amount determined under section 2.4 of

Free access — add to your briefcase to read the full text and ask questions with AI

7. (a) This section applies to a district
designated under section 10.5 of this chapter and approved by the
budget agency before January 1, 2002, in a city having a population of
more than twenty-eight thousand (28,000) and less than twenty-nine
thousand (29,000).
(b) An area is added to and becomes part of a district described in
subsection (a) if the area consists of property that:
(1) is located in a city having a population of more than
twenty-eight thousand (28,000) and less than twenty-nine
thousand (29,000); and
(2) experienced a loss of at least three hundred (300) jobs during
the calendar year ending December 31, 2001.
(c) After the addition of property to a district described in
subsection (a) under this section, the gross retail base period amount
determined under section 2.4 of this chapter for the district before the
addition of the property to the district under this section shall be
increased by an amount equal to:
(1) the aggregate amount of state gross retail and use taxes
remitted:
(A) under IC 6-2.5 by the businesses operating in the area
added to the district under subsection (b); and
(B) during the period beginning after December 31, 2001, and
ending before February 1, 2002; multiplied by
(2) twelve (12).
(d) After the addition of property to a district described in
subsection (a) under this section, the income tax base period amount
determined under section 3.2 of this chapter for the district before the
addition of the property to the district under this section shall be
increased by an amount equal to:
(1) the aggregate amount of state and local income taxes paid:
(A) by employees employed in the area added to the district
under subsection (b) with respect to wages and salary earned
for work in the area added; and
(B) during the period beginning after December 31, 2001, and
ending before February 1, 2002; multiplied by
(2) twelve (12).
(e) The addition of property to a district under this section does not
require adoption of an ordinance, review by the budget committee, or
approval of the budget agency under section 10.5 of this chapter.