Bill Text: IN HB1102 | 2010 | Regular Session | Amended
Bill Title: Economic improvement districts.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2010-01-26 - Representative Dermody added as coauthor [HB1102 Detail]
Download: Indiana-2010-HB1102-Amended.html
Citations Affected: IC 36-7.
Synopsis: Economic improvement districts. Provides that a petition to
establish an economic improvement district must contain signatures
from: (1) a majority of the owners of real property in the proposed
district; and (2) the owners of real property constituting more than 50%
of the assessed valuation in the proposed district. (Current law requires
the signatures of: (1) a majority of the owners of real property in the
proposed district; and (2) the owners of real property constituting at
least 66 2/3% of the assessed valuation in the proposed district.)
Effective: July 1, 2010.
January 5, 2010, read first time and referred to Committee on Small Business and
Economic Development.
January 25, 2010, reported _ Do Pass.
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(1) the petition meets the requirements of this section and sections 4 and 5 of this chapter;
(2) the economic improvement projects to be undertaken in the district will provide special benefits to property owners in the district and will be of public utility and benefit;
(3) the benefits provided by the project will be new benefits that do not replace benefits existing before the establishment of the district; and
(4) the formula to be used for the assessment of benefits is appropriate.
(b) The legislative body may adopt the ordinance only if it determines that the petition has been signed by:
(1) a majority of the owners of real property within the proposed district; and
(2) the owners of real property constituting
(c) The signature of a person whose property would be exempt from assessments under the ordinance may not be considered in determining whether the requirements of subsection (b) are met. In addition, the assessed valuation of any property that would be exempt from assessment under the ordinance may not be considered in determining the total assessed valuation in the proposed district.