Bill Text: IN HB1130 | 2010 | Regular Session | Amended
Bill Title: CRED districts.
Spectrum: Bipartisan Bill
Status: (Engrossed - Dead) 2010-02-15 - Pursuant to Senate Rule 65(b), reassigned to Tax and Fiscal Policy. [HB1130 Detail]
Download: Indiana-2010-HB1130-Amended.html
Citations Affected: IC 36-7.
Synopsis: CRED districts. Authorizes a third area in Delaware County
for designation as a community revitalization enhancement district
(CRED). Provides that the area must contain a building with at least
1,000,000 square feet, and that at least 700 fewer people are employed
in the area than were employed in the area on January 1, 2008.
Effective: Upon passage.
January 7, 2010, read first time and referred to Committee on Small Business and
Economic Development.
January 21, 2010, reported _ Do Pass.
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
A BILL FOR AN ACT to amend the Indiana Code concerning
economic development.
(b) For an area located in a county having a population of more than one hundred twenty thousand (120,000) but less than one hundred thirty thousand (130,000), an advisory commission may adopt a resolution designating a particular area as a district only after finding all of the following:
(1) The area contains a building or buildings:
(A) with at least one million (1,000,000) square feet of usable interior floor space; and
(B) that is or are vacant or will become vacant due to the relocation of an employer.
(2) At least one thousand (1,000) fewer persons are employed in the area than were employed in the area during the year that is ten (10) years previous to the current year.
(3) There are significant obstacles to redevelopment of the area due to any of the following problems:
(A) Obsolete or inefficient buildings.
(B) Aging infrastructure or inefficient utility services.
(C) Utility relocation requirements.
(D) Transportation or access problems.
(E) Topographical obstacles to redevelopment.
(F) Environmental contamination.
(4) The unit has expended, appropriated, pooled, set aside, or pledged at least one hundred thousand dollars ($100,000) for purposes of addressing the redevelopment obstacles described in subdivision (3).
(5) The area is located in a county having a population of more than one hundred twenty thousand (120,000) but less than one hundred thirty thousand (130,000).
(c) For a county having a population of more than one hundred eighteen thousand (118,000) but less than one hundred twenty thousand (120,000), an advisory commission may adopt a resolution designating not more than
(1) The area meets
(A) The area meets the following conditions:
(i) The area contains a building with at least seven hundred ninety thousand (790,000) square feet.
(ii) At least eight hundred (800) fewer people are employed in the area than were employed in the area during the year that is fifteen (15) years previous to the current year.
(iii) The area is located in or is adjacent to an industrial park.
(B) The area meets the following conditions:
(i) The area contains a building with at least three hundred eighty-six thousand (386,000) square feet.
(ii) At least four hundred (400) fewer people are employed in the area than were employed in the area during the year that is fifteen (15) years previous to the current year.
(iii) The area is located in or is adjacent to an industrial park.
(C) The area meets the following conditions:
(i) The area contains a building with at least one million (1,000,000) square feet.
(ii) At least seven hundred (700) fewer people are employed in the area than were employed in the area on January 1, 2008.
(A) Obsolete or inefficient buildings.
(B) Aging infrastructure or inefficient utility services.
(C) Utility relocation requirements.
(D) Transportation or access problems.
(E) Topographical obstacles to redevelopment.
(F) Environmental contamination.
(d) For an area located in a county having a population of more than two hundred thousand (200,000) but less than three hundred thousand (300,000), an advisory commission may adopt a resolution designating a particular area as a district only after finding all of the following:
(1) The area contains a building or buildings:
(A) with at least one million five hundred thousand (1,500,000) square feet of usable interior floor space; and
(B) that is or are vacant or will become vacant.
(2) At least eighteen thousand (18,000) fewer persons are employed in the area at the time of application than were employed in the area before the time of application.
(3) There are significant obstacles to redevelopment of the area due to any of the following problems:
(A) Obsolete or inefficient buildings.
(B) Aging infrastructure or inefficient utility services.
(C) Utility relocation requirements.
(D) Transportation or access problems.
(E) Topographical obstacles to redevelopment.
(F) Environmental contamination.
(4) The unit has expended, appropriated, pooled, set aside, or pledged at least one hundred thousand dollars ($100,000) for purposes of addressing the redevelopment obstacles described in subdivision (3).
(5) The area is located in a county having a population of more than two hundred thousand (200,000) but less than three hundred thousand (300,000).
(e) For an area located in a county having a population of more than three hundred thousand (300,000) but less than four hundred thousand (400,000), an advisory commission may adopt a resolution designating a particular area as a district only after finding all of the following:
(1) The area contains a building or buildings:
(A) with at least eight hundred thousand (800,000) gross square feet; and
(B) having leasable floor space, at least fifty percent (50%) of which is or will become vacant.
(2) There are significant obstacles to redevelopment of the area due to any of the following problems:
(A) Obsolete or inefficient buildings as evidenced by a decline of at least seventy-five percent (75%) in their assessed valuation during the preceding ten (10) years.
(B) Transportation or access problems.
(C) Environmental contamination.
(3) At least four hundred (400) fewer persons are employed in the area than were employed in the area during the year that is fifteen (15) years previous to the current year.
(4) The area has been designated as an economic development target area under IC 6-1.1-12.1-7.
(5) The unit has appropriated, pooled, set aside, or pledged at least two hundred fifty thousand dollars ($250,000) for purposes of addressing the redevelopment obstacles described in subdivision (2).
(6) The area is located in a county having a population of more than three hundred thousand (300,000) but less than four hundred thousand (400,000).
(f) The advisory commission, or the county or municipal legislative body, in the case of a district designated under section 10.5 of this chapter, shall designate the duration of the district. However, a district must terminate not later than fifteen (15) years after the income tax incremental amount or gross retail incremental amount is first allocated to the district.
(g) Upon adoption of a resolution designating a district, the advisory
commission shall:
(1) publish notice of the adoption and substance of the resolution
in accordance with IC 5-3-1; and
(2) file the following information with each taxing unit in the
county where the district is located:
(A) A copy of the notice required by subdivision (1).
(B) A statement disclosing the impact of the district, including
the following:
(i) The estimated economic benefits and costs incurred by
the district, as measured by increased employment and
anticipated growth of property assessed values.
(ii) The anticipated impact on tax revenues of each taxing
unit.
The notice must state the general boundaries of the district.
(h) Upon completion of the actions required by subsection (g), the
advisory commission shall submit the resolution to the budget
committee for review and recommendation to the budget agency. If the
budget agency fails to take action on a resolution designating a district
within one hundred twenty (120) days after the date that the resolution
is submitted to the budget committee, the designation of the district by
the resolution is considered approved.
(i) When considering a resolution, the budget committee and the
budget agency must make the following findings:
(1) The area to be designated as a district meets the conditions
necessary for designation as a district.
(2) The designation of the district will benefit the people of
Indiana by protecting or increasing state and local tax bases and
tax revenues for at least the duration of the district.
(j) The income tax incremental amount and the gross retail
incremental amount may not be allocated to the district until the
resolution is approved under this section.
