Indiana § 36-7-14-43 Rights, powers, privileges, and immunities exercisable by commission
in economic development area; fiscal or legislative body authorization;
conditions

Indiana Statutes

§ 36-7-14-43 — Rights, powers, privileges, and immunities exercisable by commission in economic development area; fiscal or legislative body authorization; conditions

Indiana·Title 36 LOCAL GOVERNMENT·Art. 7 PLANNING AND DEVELOPMENT·Ch. 14 Redevelopment of Areas Needing Redevelopment

(a)All of the rights, powers, privileges, and immunities that may be exercised by the commission in a redevelopment project area or urban renewal area may be exercised by the commission in an economic development area, subject to the following:

(1)The content and manner of exercise of these rights, powers, privileges, and immunities shall be determined by the purposes and nature of an economic development area. A right, power, privilege, or immunity that pertains to issuing bonds or incurring an obligation may not be exercised by a redevelopment commission unless it is first specifically authorized by the fiscal or legislative body of the unit, whichever applies, regardless of any other law.

(2)Real property (or interests in real property) relative to which action is taken in an economi

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(a) All of the rights, powers, privileges, and
immunities that may be exercised by the commission in a
redevelopment project area or urban renewal area may be exercised by
the commission in an economic development area, subject to the
following:
(1) The content and manner of exercise of these rights, powers,
privileges, and immunities shall be determined by the purposes
and nature of an economic development area. A right, power,
privilege, or immunity that pertains to issuing bonds or incurring
an obligation may not be exercised by a redevelopment
commission unless it is first specifically authorized by the fiscal
or legislative body of the unit, whichever applies, regardless of
any other law.
(2) Real property (or interests in real property) relative to which
action is taken in an economic development area is not required
to meet the conditions described in IC 36-7-1-3.
(3) The special tax levied in accordance with section 27 of this
chapter may be used to carry out activities under this chapter in
economic development areas.
(4) Bonds may be issued in accordance with section 25.1 of this
chapter to defray expenses of carrying out activities under this
chapter in economic development areas if no other revenue
sources are available for this purpose.
(5) The tax exemptions set forth in section 37 of this chapter are
applicable in economic development areas.
(6) An economic development area may be an allocation area for
the purposes of distribution and allocation of property taxes.
(b) The content and manner of discharge of duties set forth in
section 11 of this chapter shall be determined by the purposes and
nature of an economic development area.

Indiana § 36-7-14-43 (Rights, powers, privileges, and immunities exercisable by commission in economic development area; fiscal or legislative body authorization; conditions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.