§ 6-9-24-8 — Food and beverage tax receipts fund

(a) If a tax is imposed under section 3 of this
chapter, the fiscal body of the municipality shall establish a food and
beverage tax receipts fund.
(b) The fiscal officer of the municipality shall deposit in this fund
all amounts received under this chapter.
(c) Any money earned from the investment of money in the fund
becomes a part of the fund.
(d) Money in this fund shall be used by the municipality to:
(1) finance, construct, improve, equip, operate, and maintain
public parking and public restroom facilities;
(2) renovate, equip, operate, and maintain any structure that may
be used as a public parking or public restroom facility;
(3) finance, construct, improve, equip, operate, and maintain
sidewalks and other streetscape improvements; or
(4) provide grants to businesses located within the municipality
that meet the criteria developed under subsection (e) to be used
for:
(A) exterior improvements to the building in which the business
is located, including signage, lighting, and decor improvements;
and
(B) architectural or engineering services or consultation.
The municipality may enter into lease or contractual arrangements, or
both, with governmental, not-for-profit, or other private entities to
operate and maintain these facilities and improvements.
(e) The fiscal body of the municipality shall develop criteria for
awarding a grant under subsection (d)(4), including eligibility
requirements, grant guidelines, and an application process.

Legislative History

As added by P.L.111-1987, SEC.1. Amended by P.L.65-2013, SEC.1; P.L.137-2022, SEC.89.