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House Bill 1778


House Bill 1778

ARCHIVE (2005)

Latest Information

 

DIGEST OF INTRODUCED BILL


Convention center funding. Permits the Indianapolis city-county council to: (1 ) increase the rate of the county supplemental auto rental excise tax from 2% to 4%; (2) extend the expiration date of the county supplemental auto rental excise tax from December 31, 2027, to December 31, 2040; (3) increase the rate of the Marion County innkeeper's tax to 9% through 2040 (the tax rate would be reduced to 5% in 2041); and (4) increase the rate of the county admissions tax from 5% to 6%. Requires the bureau of motor vehicles to issue one or more capital improvement board team license plates upon the request of the Marion County capital improvement board and requires the board to use revenue from the plates for payment of obligations relating to a capital improvement that is used for professional football events. Removes the limit on the annual amount of state revenue that may be captured by a professional sports development area in Indianapolis (the current limit is $5,000,000 per year). Removes the requirement that a capital improvement paid for with state revenue captured by a professional sports development area be used for a capital improvement that is used for a professional sporting event. Permits the Indianapolis metropolitan development commission to establish a convention and visitor development area as a tax area to capture sales tax, adjusted gross income tax, county option income tax, and innkeeper's tax to be used for capital improvements serving the convention and visitor industry.
Current Status:
 In Committee - first House
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