IN HB1593 | 2019 | Regular Session

Status

Spectrum: Bipartisan Bill
Status: Introduced on January 22 2019 - 25% progression
Action: 2019-01-22 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Certified technology park funding. Changes the recertification period for certified technology parks from three years to four years. Provides that once a certified technology park reaches its cap, an additional amount equal to incremental income taxes shall be captured (not to exceed $500,000 annually or in the case of a certified technology park operated by two or more redevelopment commissions, $500,000 per redevelopment commission). Requires a redevelopment commission that has designated a third party manager or operator of a certified technology park to transfer to the manager or operator the amount owed within 30 days of receiving a distribution.

Tracking Information

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Title

Certified technology park funding. Changes the recertification period for certified technology parks from three years to four years. Provides that once a certified technology park reaches its cap, an additional amount equal to incremental income taxes shall be captured (not to exceed $500,000 annually or in the case of a certified technology park operated by two or more redevelopment commissions, $500,000 per redevelopment commission). Requires a redevelopment commission that has designated a third party manager or operator of a certified technology park to transfer to the manager or operator the amount owed within 30 days of receiving a distribution.

Sponsors


History

DateChamberAction
2019-01-22HouseFirst reading: referred to Committee on Ways and Means
2019-01-22HouseCoauthored by Representative Austin
2019-01-22HouseAuthored by Representative Heine

Indiana State Sources


Bill Comments

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