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Engrossed House Bill (S)

DIGEST

Expenditures of redevelopment commissions. Provides that except for property tax proceeds transferred to a school corporation or public school, including a charter school, allocated property tax proceeds may be expended for projects located outside an allocation area only if the redevelopment commission adopts a declaratory resolution that finds that the expenditures: (1) will directly benefit the allocation area; or (2) will result in the creation or retention of jobs in the private sector. Adds various requirements related to expenditures under contracts between redevelopment commissions and providers of educational and training programs to establish programs designed to prepare individuals to participate Expenditures of redevelopment commissions. Provides that except for property tax proceeds transferred to a school corporation or public school, including a charter school, allocated property tax proceeds may be expended for projects located outside an allocation area only if the redevelopment commission adopts a declaratory resolution that finds that the expenditures: (1) will directly benefit the allocation area; or (2) will result in the creation or retention of jobs in the private sector. Adds various requirements related to expenditures under contracts between redevelopment commissions and providers of educational and training programs to establish programs designed to prepare individuals to participate in the competitive and global economy. ... View more