SB 494 IN

State and local tax capture areas.

IN · session 2025 · Senate · bill

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Introduced Jan 14, 2025

Latest action (Feb 4, 2025) Senator Niezgodski added as second author

Summary

Amends provisions concerning the designation of an innovation development district to add certain qualification requirements (grandfathers in those districts established under current law). Requires the Indiana economic development corporation to establish a maximum sales tax increment amount and state income tax increment amount that may be allocated for each innovation development district, which may not exceed a specified amount per state fiscal year. Adds related procedural provisions. Makes conforming changes.

Sponsors (2)

Ryan Mishler Republican · author
David Niezgodski Democratic · author

Action history (3)

Jan 14, 2025 Authored by Senator Mishler · upper
Jan 14, 2025 First reading: referred to Committee on Appropriations · upper
Feb 4, 2025 Senator Niezgodski added as second author · upper

Subjects

AGENCIES; Economic Development Corporation (IEDC)ECONOMIC DEVELOPMENTSTATE GOVERNMENT; State and Local FundingTAXES; Sales and Use Taxes

Full text

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