IN HB1395 | 2024 | Regular Session
Status
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Introduced on January 11 2024 - 25% progression
Action: 2024-01-11 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 11 2024 - 25% progression
Action: 2024-01-11 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Youth sports and tourism development areas. Allows the legislative body of a city or town to adopt a resolution establishing a youth sports and tourism development area (tax area). Requires that the tax area include a facility or complex of facilities used by youth sports teams and organizations for practice or competitive sporting events. Requires the legislative body to make findings when adopting a resolution. Requires the legislative body to submit a resolution establishing a tax area to the budget committee and budget agency for review and approval. Allows a tax area to receive incremental state and local income tax revenue and incremental sales tax revenue attributable to the tax area. Requires a city or town that establishes a tax area to establish a youth sports and tourism development area fund. Limits the amount of incremental tax revenue that may be allocated to $1,000,000 per tax area per state fiscal year. Provides that a tax area terminates not later than 25 years after the date on which the first obligation payable from tax revenues allocated to the tax area is incurred.
Title
Youth sports and tourism development areas.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2024-01-11 | House | First reading: referred to Committee on Ways and Means |
| 2024-01-11 | House | Authored by Representative Judy |
| 2024-01-11 | House | Coauthored by Representatives Snow and GiaQuinta |
