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House Bill 1120


House Bill 1120

ARCHIVE (2005)

Latest Information

 

DIGEST OF HB 1120 (Updated April 29, 2005 10:47 pm - DI 44)


State and local finance matters. Establishes the Indiana stadium and convention building authority (SCBA) to acquire, construct, equip, own, lease, and finance facilities for lease to or for the benefit of a capital improvement board. Authorizes the Indianapolis city-county council to increase the rates of the: (1) county supplemental auto rental excise tax; (2) county innkeeper's tax; (3) county food and beverage tax; and (4) county admissions tax; and provides that the resulting increased revenue is to be distributed to the Marion County capital improvement board for use in paying debt service on certain obligations issued by the SCBA. Authorizes the counties contiguous to Marion County, and certain municipalities located in those counties, to adopt a food and beverage tax. Authorizes the SCBA and the development finance authority to enter into swap agreements. Authorizes the budget director to increase the amount of state tax revenue that is annually captured by the Marion County professional sports development area. Prohibits the expansion of the Marion County professional sports development area except with respect to the site of a facility to be financed by the SCBA. Prohibits the expansion of a professional sports and convention development area in other counties. Repeals the current law concerning termination of the Marion County food and beverage tax. Authorizes the town of Avon and the city of Martinsville to adopt an ordinance to impose a food and beverage tax under its own law. Authorizes the Indiana development finance authority (IDFA) to issue bonds and use the proceeds of the bonds to acquire any obligations issued by the northwest Indiana regional development authority (development authority). Provides that Lake County shall distribute 25% of the admissions tax revenue received by the county to certain municipalities in the county. Provides that a municipality may use the revenue distributed by the county only for infrastructure purposes. Establishes the development authority in Lake County and Porter County. Requires the fiscal officer of each city and county that appoints a member to the board (other than the member appointed on nomination of Portage or Valparaiso) to transfer $3,500,000 annually to the development authority from any of the following sources: (1) Riverboat admissions taxes, riverboat wagering taxes, or riverboat incentive payments received by the city or county. (2) Any county economic development income tax revenue received by the city or county. (3) Any other local revenue other than property tax revenue received by the city or county. Requires the development authority to submit to the budget committee and to the director of the office of management and budget for approval a comprehensive strategic development plan. Authorizes the development authority to: (1) make loans, loan guarantees, and grants to or on behalf of a commuter transportation district, an airport authority, an airport development authority, a regional bus authority, and a shoreline development commission; (2) issue bonds (only to IDFA); (3) lease land or projects to a commuter transportation district, an airport authority, an airport development authority, a regional bus authority, or a shoreline development commission; (4) use the development authority's funds to match federal grants; and (5) take other actions to carry out its purposes. Requires the development authority to comply with the common construction wage law, the public purchasing laws, the public work projects laws, and any applicable federal bidding statutes and regulations. Requires a political subdivision that receives a loan, grant, or other financial assistance from the development authority to comply with applicable federal, state, and local public purchasing and bidding laws and regulations. Provides that, subject to the trust agreement of any outstanding bonds, the Indiana transportation finance authority (finance authority) shall distribute to the development authority in 2006 and 2007 from revenues accruing from the toll road at least $5,000,000 and not more than $10,000,000 each year (as determined by the finance authority). Specifies that the distributions may be made only if all participating local units have made the required contributions to the development authority. Provides that after 2007 the finance authority may distribute to the development authority amounts from revenues accruing from the toll road. Provides that these distributions may be made only if all participating local units have made the required contributions to the development authority, the budget committee has reviewed the development authority's comprehensive strategic development plan, and the director of the office of management and budget has approved the comprehensive strategic development plan. Eliminates the requirement that the finance authority may finance or develop improvements only within ten miles on either side of a toll road. Eliminates the requirement that the tolls for any class of traffic shall be substantially uniform according to the mileage between interchanges. Provides that if Porter County increases its county economic development income tax rate, the first $3,500,000 of the tax revenue that results each year from the rate increase and is received by the county shall be used by the county to make the county's required transfer to the development authority. Allows county economic development income tax revenue received by Lake County, Porter County, or a municipality in Lake County or Porter County to be used to provide additional homestead credits. Allows the Lake County council to impose a 1% food and beverage tax in Lake County. Allows the Porter County council to impose a 1% food and beverage tax in Porter County. Provides that the food and beverage tax revenue is distributed to the development authority. Specifies that any food and beverage tax revenue distributed to the development authority is not part of either county's required transfers to the development authority. Renames the regional transportation authority in Lake County as a regional bus authority. Requires rules of the department of local government finance to include instructions for: (1) determining the true tax value of certain mobile homes in a prescribed manner; and (2) determining the true tax value at the time of acquisition of computer application software for the purpose of deducting that value from the true tax value of taxable personal property. Provides a property tax deduction for a building if materials made from coal combustion products are systematically used in the building's construction. Expands the time during the year when the county treasurer may enforce delinquent personal property taxes. Requires a creditor that acquires and transfers certain personal property on which the creditor holds a lien and on which personal property taxes have been adjudicated delinquent to pay all or part of the delinquency from the proceeds of the transfer according to a formula that apportions the proceeds between the lien amount and the delinquency amount. Allows a creditor to deduct from the proceeds of the transfer any direct costs of the transfer before applying the formula. Allows money in the enterprise zone fund to be used to pay administrative expenses of local urban enterprise associations (UEAs). Establishes the enterprise zone investment deduction, which allows a taxpayer who makes a qualified investment to obtain a deduction against the assessed value of a taxpayer's enterprise zone property located in an enterprise zone. Requires the department of state revenue to annually compile and report to the Indiana economic development corporation (IEDC) information on the enterprise zone loan interest credit. Adds the new deduction and the loan interest credit to the list of incentives that make a zone business subject to the requirement to pay a registration fee to the state enterprise zone board and to assist a local UEA. Provides that Miami County may increase the county option income tax rate by 0.25% over the current maximum rate to finance a county jail. Provides that Howard County may increase the county option income tax rate by 0.25% over the current maximum rate to operate a county jail or juvenile center. Authorizes the Evansville city council to impose a supplemental auto rental excise tax in Vanderburgh County. Permits Tippecanoe County to increase its innkeeper's tax from 5% to 6%. Authorizes Hendricks County to impose an innkeeper's tax to replace the innkeeper's tax it currently imposes under the uniform innkeeper's tax law. Authorizes Wayne County and, under certain conditions, municipalities in Wayne County to impose a food and beverage tax. Allows the alcohol and tobacco commission to issue ten three-way, two-way, or one-way alcoholic beverage permits under certain conditions to restaurants located: (1) in a historic district in a city or town; or (2) not more than 500 feet from the historic district; if the historic district meets certain requirements. Requires the bureau of motor vehicles to issue professional football team license plates. Requires the controller of a solid waste management district to deposit and invest the district's money in the same manner that other county money is deposited and invested. Increases the oil inspection fee from $0.008 to $0.01 per gallon (40 cents to 50 cents per 50 gallon barrel) and adds "special fuel" (diesel fuel) to the list of petroleum products subject to the fee. Authorizes the use of state and university owned property free of charge as locations for making motion pictures. Allows a school corporation to form a foundation to hold grants, gifts, and certain other money received by the school corporation. Provides that a school corporation that did not issue bonds to cover retirement or severance liability under a prior statute (which was repealed on December 31, 2004) or that issued bonds under the prior statute before April 14, 2003, may issue bonds one additional time for that purpose. Provides that the bonds are not subject to the petition and remonstrance process. Authorizes the department of workforce development (DWD) to establish an employer contribution rate not to exceed 3.5%, if the state becomes responsible for administering the Federal Unemployment Tax Act (26 U.S.C. 3301 et seq.) as a demonstration project. Authorizes the DWD to increase the employer contribution rate by an additional 0.8% for the year in which the state assumes this responsibility. Allows a county library board to levy a property tax and distribute the tax to a private donation library under certain conditions. Provides that the provisions authorizing the IEDC to administer the EDGE tax credit and the Hoosier business investment tax credit take effect on February 9, 2005 (the date the EDGE board was abolished) instead of July 1, 2005. Requires the legislative body of each unit that contains the geographic area of an enterprise zone to adopt a resolution recommending the continuation or termination of the zone and provides that the zone terminates on December 31, 2005, if the legislative body recommended termination. Requires Ivy Tech State College to enter into a lease of certain property in Fort Wayne. Makes an appropriation to Ivy Tech State College for A&E expenses for planning the Logansport campus. Requires the gaming commission to study alternative forms of gaming to determine if they would be beneficial for Indiana. Allows a county fiscal body to apply a property tax credit over four years for a homestead that had an excessive tax increase in the last general reassessment. Specifies that the amount of the credit is a percentage of that increase.
Current Status:
 Law Enacted
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