§ 36-7-32.5-4 — "Gross retail base period amount"

Indiana § 36-7-32.5-4

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7: PLANNING AND DEVELOPMENT
• Ch. 32.5: Innovation Development Districts

Text

As used in this chapter, "gross retail base
period amount" means the aggregate amount of state gross retail and
use taxes remitted under IC 6-2.5:
(1) by the businesses operating in the territory comprising an
innovation development district; and
(2) that is, in the case of the:
(A) state gross retail tax, collected by a business for sales
occurring at a physical location of the business in the
innovation development district;
(B) state use tax, incurred with regard to property used in the
innovation development district; and
(C) state gross retail and use tax incurred and paid by a
contractor with regard to tangible personal property
incorporated into real property that is located in the innovation
development district, if the:
(i) contractor can determine the amount of state gross retail
or use tax incurred and paid on the tangible personal property
incorporated into real property that is located in the
innovation development district based on records maintained
under section 16.5 of this chapter;
(ii) state gross retail or use tax is not otherwise collected in an
allocation area listed in section 10(b) of this chapter; and
(iii) state gross retail or use tax is not otherwise included in
any innovation development district or section 5 of this
chapter;
during the full state fiscal year that precedes the date on which the
innovation development district was designated under section 9 of this
chapter.

Legislative History

As added by P.L.135-2022, SEC.28. Amended by P.L.11-2023, SEC.122; P.L.201-2023, SEC.272.