Indiana House Bill 1232 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Democrat 1)
Status: Introduced on January 9 2012 - 25% progression, died in committee
Action: 2012-01-09 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [HTML]

Provides that a redevelopment commission outside Marion County may establish a sales tax increment financing area (area) to capture 50% of the sales and use taxes remitted by businesses that begin operating in the area after the area is established. Provides that the body acting as a redevelopment commission in Marion County may establish an area to capture 50% of the sales and use taxes remitted by businesses that begin operating in the area after the area is established. Provides that the sales and use taxes in an area may be used to make beneficial improvements that would not otherwise be made as a result of regulatory processes or the ordinary operations of private enterprise. Provides that an area must terminate not later than 30 years after a sales tax increment is first distributed to the redevelopment commission that established the area.

Sales tax increment financing.

Rep. Scott Reske [D]

Date	Chamber	Action
2012-01-09		First reading: referred to Committee on Ways and Means
2012-01-09		Authored by Representative Reske

Type	Source
Summary	http://www.in.gov/apps/lsa/session/billwatch/billinfo?year=2012&session=1&request=getBill&doctype=HB&docno=1232
Text	http://www.in.gov/legislative/bills/2012/IN/IN1232.1.html