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Senate Bill (S)

DIGEST

Marion County capital improvement board. Provides for the expansion of the professional sports development area (tax area) in Marion County. Provides for the capture of covered taxes in the expanded tax area. Authorizes the city-county council to adopt a resolution that continues imposition of the increase to the county supplemental auto rental excise tax through December 31, 2040. Authorizes the city-county council to adopt a resolution that continues imposition of the increase to the county admissions tax through December 31, 2040. Authorizes the city-county council to adopt a resolution that continues the capture of local income taxes attributable to the Marion County capital improvement board. Provides for the expansion of the professional sports development area (tax area) in Marion County. Provides for the capture of covered taxes in the expanded tax area. Authorizes the city-county council to adopt a resolution that continues imposition of the increase to the county supplemental auto rental excise tax through December 31, 2040. Authorizes the city-county council to adopt a resolution that continues imposition of the increase to the county admissions tax through December 31, 2040. Authorizes the city-county council to adopt a resolution that continues the capture of local income taxes attributable to the tax area through December 31, 2040. Provides that revenues available for deposit in the sports and convention facilities operating fund may be pledged to secure and provide for the payment of bond or lease obligations of the board. Provides that Marion County capital improvement board may not use revenue derived from local or state taxes to finance, construct, or in any way subsidize the construction of meeting or ballroom space related to a privately owned hotel. Permits the Indianapolis metropolitan development commission or capital improvement board to adjust the equal opportunity percentages to reflect the results of a disparity study conducted by the City of Indianapolis. Provides that if restricted deposits are insufficient to fully repay the board's obligations, revenues collected by the board from certain taxes must be used. Establishes an additional professional sports development area in Marion County to capture state and local revenue for capital improvements. Provides for the issuance of indebtedness to finance a multipurpose soccer stadium subject to budget committee review. Provides that the Indiana stadium and convention building authority, the Marion County capital improvement board, and the Marion County convention and recreational facilities authority may not require a contractor or a subcontractor to enter into a contract limitation and may not grant a public benefit relating to any project that is financed in whole or in part from funds derived from the establishment of a new tax area under the bill. Provides that any such provisions are void. Strikes a provision requiring the Indiana stadium and convention building authority to enter into project labor agreement on all projects. Establishes the legacy project, which must be located at an Indianapolis parks and recreation department location located within a four mile radius of the Soldiers' and Sailors' Monument in Indianapolis. ... View more