Senate Bill (H)

Sponsored by

DIGEST

Funding school transportation and public transit. Permits a redevelopment commission outside Marion County to provide revenue on an annual basis to a school corporation or public transportation corporation from property taxes allocated to the redevelopment commission in a tax increment financing allocation area. Specifies the amount of property taxes that may be transferred by the redevelopment commission. Requires a joint public hearing of the legislative body of the unit that established the tax increment financing area, the redevelopment commission, and the governing body of the school corporation or public transportation corporation and the adoption of substantially similar authorizing resolutions. Funding school transportation and public transit. Permits a redevelopment commission outside Marion County to provide revenue on an annual basis to a school corporation or public transportation corporation from property taxes allocated to the redevelopment commission in a tax increment financing allocation area. Specifies the amount of property taxes that may be transferred by the redevelopment commission. Requires a joint public hearing of the legislative body of the unit that established the tax increment financing area, the redevelopment commission, and the governing body of the school corporation or public transportation corporation and the adoption of substantially similar authorizing resolutions.