IN HB1018 | 2015 | Regular Session

Status

Spectrum: Bipartisan Bill
Status: Introduced on January 6 2015 - 25% progression, died in committee
Action: 2015-02-03 - Representative Pryor added as coauthor
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Tax increment financing. Provides that if a redevelopment commission adopts a declaratory resolution or amendment after June 30, 2015, that establishes, renews, or expands an allocation provision or area, the base assessed value used to determine the amount of allocated tax proceeds for the redevelopment district must be increased each year so that the incremental assessed value is 50% of the incremental assessed value in the allocation area without the increase. Provides that for the allocation area in Marion County that is identified as the Consolidated Allocation Area, the expiration date for the allocation area is June 30, 2026, or

Tracking Information

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Title

Tax increment financing. Provides that if a redevelopment commission adopts a declaratory resolution or amendment after June 30, 2015, that establishes, renews, or expands an allocation provision or area, the base assessed value used to determine the amount of allocated tax proceeds for the redevelopment district must be increased each year so that the incremental assessed value is 50% of the incremental assessed value in the allocation area without the increase. Provides that for the allocation area in Marion County that is identified as the Consolidated Allocation Area, the expiration date for the allocation area is June 30, 2026, or

Sponsors


History

DateChamberAction
2015-02-03HouseRepresentative Pryor added as coauthor
2015-01-06HouseFirst Reading: referred to Committee on Ways and Means
2015-01-06HouseAuthored by Representative Cherry

Indiana State Sources


Bill Comments

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