Indiana § 36-7-31-14.1 Marion County allocation of additional revenue to professional sports
development area fund

Indiana Statutes

§ 36-7-31-14.1 — Marion County allocation of additional revenue to professional sports development area fund

Indiana § 36-7-31-14.1

Title 36LOCAL GOVERNMENT

Art. 7PLANNING AND DEVELOPMENT

Ch. 31Professional Sports Development Area in County

This text of Indiana § 36-7-31-14.1 (Marion County allocation of additional revenue to professional sports development area fund) 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 § 36-7-31-14.1 (2026).

Text

1.

(a)The budget director appointed under IC 4-12-1-3 may determine that, commencing July 1, 2007, and terminating January 1, 2041, there may be captured in the tax area up to eleven million dollars ($11,000,000) per year in addition to the up to five million dollars ($5,000,000) of state revenue to be captured by the tax area under section 14 of this chapter for the professional sports development area fund and in addition to the state revenue to be captured by the part of the tax area covered by section 14.2 of this chapter for the sports and convention facilities operating fund.

(b)The budget director's determination must specify that the termination date of the tax area for purposes of the collection of the additional revenue for the professional sports development area fund is exten

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

1. (a) The budget director appointed under
IC 4-12-1-3 may determine that, commencing July 1, 2007, and
terminating January 1, 2041, there may be captured in the tax area up
to eleven million dollars ($11,000,000) per year in addition to the up
to five million dollars ($5,000,000) of state revenue to be captured by
the tax area under section 14 of this chapter for the professional sports
development area fund and in addition to the state revenue to be
captured by the part of the tax area covered by section 14.2 of this
chapter for the sports and convention facilities operating fund.
(b) The budget director's determination must specify that the
termination date of the tax area for purposes of the collection of the
additional revenue for the professional sports development area fund
is extended to not later than January 1, 2041.
(c) Following the budget director's determination, and commencing
July 1, 2007, the maximum total amount of revenue captured by the tax
area for state fiscal years ending before July 1, 2041, is sixteen million
dollars ($16,000,000) per year for the professional sports development
area fund.
(d) The additional revenue captured pursuant to a determination
under subsection (a) shall be distributed to the capital improvement
board or its designee. So long as there are any current or future
obligations owed by the capital improvement board to the Indiana
stadium and convention building authority created by IC 5-1-17 or any
state agency under a lease or another agreement entered into between
the capital improvement board and the Indiana stadium and convention
building authority or any state agency under IC 5-1-17-26, the capital
improvement board or its designee shall deposit the additional revenue
received under this subsection in a special fund, which may be used
only for the payment of the obligations described in this subsection.