§ 36-7-31-14 — Resolution; allocation of taxes to professional sports development area fund

(a) This section does not apply to that part
of the tax area in which a facility or complex of facilities described in
section 10(b)(3) and 10(c) of this chapter is located. A reference to "tax
area" in this section does not include the part of the tax area in which
a facility or complex of facilities described in section 10(b)(3) and
10(c) of this chapter is located.
(b) A tax area must be established by resolution. A resolution
establishing a tax area must provide for the allocation of covered taxes
attributable to a taxable event or covered taxes earned in the tax area
as follows:
(1) Before January 1, 2028, to the professional sports
development area fund established for the county.
(2) After December 31, 2027, to the sports and convention
facilities operating fund.
The allocation provision must apply to the part of the tax area covered
by this section. The resolution must provide that the tax area terminates
not later than December 31, 2040.
(c) All of the salary, wages, bonuses, and other compensation that
are:
(1) paid during a taxable year to a professional athlete for
professional athletic services;
(2) taxable in Indiana; and
(3) earned in the tax area;
shall be allocated to the tax area if the professional athlete is a member
of a team that plays the majority of the professional athletic events that
the team plays in Indiana in the tax area.
(d) Except as provided by section 14.1 of this chapter, the total
amount of state revenue captured by the tax area may not exceed five
million dollars ($5,000,000) per year.
(e) The resolution establishing the tax area must designate the
facility and the facility site for which the tax area is established and
covered taxes will be used.
(f) The department may adopt rules under IC 4-22-2 and guidelines
to govern the allocation of covered taxes to a tax area.

Legislative History

As added by P.L.255-1997(ss), SEC.19. Amended by P.L.214-2005, SEC.68; P.L.182-2009(ss), SEC.412; P.L.109-2019, SEC.12.