Introduced Senate Bill (S)

Authored by

DIGEST

Tax increment financing districts. Provides that if a redevelopment commission outside Marion County wishes to establish a tax increment financing (TIF) area after December 31, 2016, a taxing unit that is located wholly or partly within a proposed TIF area may elect whether to participate in the TIF area. If a taxing unit elects to participate in a proposed TIF area, the taxing unit is bound by the terms of the TIF area until the TIF area expires. Tax increment financing districts. Provides that if a redevelopment commission outside Marion County wishes to establish a tax increment financing (TIF) area after December 31, 2016, a taxing unit that is located wholly or partly within a proposed TIF area may elect whether to participate in the TIF area. If a taxing unit elects to participate in a proposed TIF area, the taxing unit is bound by the terms of the TIF area until the TIF area expires.