IN HB1077 | 2010 | Regular Session
Status
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Engrossed on January 12 2010 - 50% progression, died in committee
Action: 2010-02-01 - First reading: referred to Committee on Appropriations
Pending: Senate Appropriations Committee
Text: Latest bill text (Amended) [HTML]
Status: Engrossed on January 12 2010 - 50% progression, died in committee
Action: 2010-02-01 - First reading: referred to Committee on Appropriations
Pending: Senate Appropriations Committee
Text: Latest bill text (Amended) [HTML]
Summary
Authorizes an economic development project district (district) in Warrick County. Provides that the authority for Warrick County expires if the state board of finance (board) fails to approve a district before January 1, 2015. Requires a resolution establishing a district in Warrick County to be ratified by the county fiscal body and board of county commissioners Provides that if a district is approved by the board, the district must be approved by ordinance by the county fiscal body. Provides that a district designated for Warrick County expires if bonds are not issued before January 1, 2015, to finance a local public improvement project in the district. Increases the maximum term of bonds and leases for a district from 20 to 25 years. Specifies the permitted uses of the sales tax increment that may be captured within the Warrick County district. Exempts a district in Warrick County from a statute that: (1) requires tax increment financing to be maximized in a community before the board may approve a proposed district; and (2) prohibits certain property tax abatements in districts. Prohibits the deposit of state gross and retail use taxes in the sales tax increment financing fund with respect to a particular district after December 31 of the calendar year in which the board determines that no obligations to finance a local public improvement in the district remain outstanding.
Title
Sales tax increment finance.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2010-02-01 | First reading: referred to Committee on Appropriations | |
| 2010-01-12 | Cosponsor: Senator R. Young | |
| 2010-01-12 | Senate sponsors: Senators Kenley, Hershman and Becker | |
| 2010-01-12 | Referred to the Senate | |
| 2010-01-12 | Third reading: passed; Roll Call 19: Yeas 90, Nays 7 | |
| 2010-01-11 | Amendment 1 (Stilwell), prevailed; Voice Vote | |
| 2010-01-11 | Second reading: amended, ordered engrossed | |
| 2010-01-07 | Committee report: do pass, adopted | |
| 2010-01-05 | First reading: referred to Committee on Ways and Means | |
| 2010-01-05 | Coauthored by Representatives Avery, Riecken and Crouch | |
| 2010-01-05 | Authored by Representative Stilwell |
