IN HB1511 | 2025 | Regular Session

Status

Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on January 21 2025 - 25% progression
Action: 2025-01-21 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Riverfront economic development tax area. Allows the legislative body of a city or a county without a consolidated city to adopt a resolution establishing a riverfront economic development tax area (tax area). Sets forth requirements for the location of the tax area. 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 income tax revenue and incremental sales tax revenue attributable to the tax area. Requires a city or county that establishes a tax area to establish a riverfront economic development area fund. Provides that a tax area terminates not later than 25 years after the date on which the resolution establishing the tax area is adopted.

Tracking Information

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Title

Riverfront economic development tax area.

Sponsors


History

DateChamberAction
2025-01-21HouseFirst reading: referred to Committee on Ways and Means
2025-01-21HouseAuthored by Representative Pfaff
2025-01-21HouseCoauthored by Representative Miller K

Indiana State Sources


Bill Comments

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