IN HB1077 | 2010 | Regular Session

Status

Completed Legislative Action
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]

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.

Tracking Information

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Title

Sales tax increment finance.

Sponsors


History

DateChamberAction
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

Indiana State Sources


Bill Comments

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