§ 36-7-31.5-5 — Establishment of area; time; area changes; special taxing district

Indiana § 36-7-31.5-5

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7: PLANNING AND DEVELOPMENT
• Ch. 31.5: Additional Professional Sports Development Area in

Text

(a) A tax area must be initially established
not later than July 1, 2024, according to the procedures set forth for the
establishment of an economic development area under IC 36-7-15.1.
A tax area may be changed or the terms governing the tax area revised
in the same manner as the establishment of the initial tax area.
(b) In establishing or changing the terms of the tax area or revising
the terms governing the tax area, the commission must make the
following findings instead of the findings required for the
establishment of economic development areas:
(1) That a project to be undertaken or that has been undertaken in
the tax area is for a facility.
(2) That the project to be undertaken or that has been undertaken
in the tax area will benefit the public health and welfare and will
be of public utility and benefit.
(3) That the project to be undertaken or that has been undertaken
in the tax area will protect or increase state and local tax bases
and tax revenues.
(c) The tax area established by the commission under this chapter
is a special taxing district authorized by the general assembly to enable
the county to provide special benefits to taxpayers in the tax area by
promoting economic development that is of public use and benefit.

Legislative History

As added by P.L.109-2019, SEC.16. Amended by P.L.11-2021, SEC.1.