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HB 1187 IN

Tax increment financing.

IN · session 2021 · Assembly / House · bill

A state bill is a proposed law in a state legislature — separate from the U.S. Congress. Learn more →

Introduced Jan 7, 2021

Latest action (Jan 7, 2021) First reading: referred to Committee on Local Government

Summary

Requires one member of a municipal or county redevelopment commission (commission) appointed by the executive of the municipality or county after December 31, 2021, to be an individual nominated by the governing body of the school corporation within the territory. Effective January 1, 2022, eliminates the appointment of and term of office of a nonvoting adviser to the commission. Requires a redevelopment commission to provide notice of an annual meeting to the: (1) president of the governing body; and (2) superintendent; of each school corporation that is wholly or partly located within the allocation area established by the commission. Requires a redevelopment commission to provide notice of an adopted resolution that designates or amends an allocation area to the: (1) president of the governing body; and (2) superintendent; of each school corporation that is wholly or partly located within the allocation area established by the commission. Requires certain percentages of incremental revenue collected in an allocation area be distributed among taxing units wholly or partly located within the allocation area and provides a schedule for the percentage that must be distributed each year.

Sponsor (1)

  • Robert Cherry · author
3 coauthors / cosponsors

Action history (3)

  1. Jan 7, 2021 Coauthored by Representatives Rowray, Thompson, Cook · lower
  2. Jan 7, 2021 Authored by Representative Cherry · lower
  3. Jan 7, 2021 First reading: referred to Committee on Local Government · lower
Subjects
BUDGETS AND APPROPRIATIONSLOCAL GOVERNMENTTAXES generally

Text versions (1)

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

  • Introduced House Bill (H) · Jan 5, 2021 · PDF

Full text

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