§ 36-7-26-22 — Base period amount; adjustment factor; determination; operation of business outside district; certification of taxes remitted

(a) Within sixty (60) days after receipt from
the commission of the information transmitted under section 21 of this
chapter the board shall do the following:
(1) Request that the department determine the base period
amount. The department shall certify the base period amount to
the board and the board shall transmit the certification to the
commission.
(2) Determine the adjustment factor. The adjustment factor must
account for the portion of the incremental state gross retail and
use tax revenues attributable to investment in the district and
resulting from the redevelopment and economic development
project. The adjustment factor may not be decreased after the
factor is determined by the board.
(b) If a business that operates or did operate in the district also has
or had one (1) or more other places of business operating in Indiana but
outside the district, the business shall, in the manner and for the periods
of time requested by the department, certify to the department the
amount of taxes remitted by the business under IC 6-2.5 for the
business's places of operation that are or were in the district.

Legislative History

As added by P.L.35-1990, SEC.63.