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House Bill 1218


House Bill 1218

ARCHIVE (2007)

Latest Information

 

DIGEST OF HB 1218 (Updated February 14, 2007 2:50 pm - DI 103)


Cultural and performing arts development districts. Authorizes cities and counties that have a redevelopment commission to apply to the Indiana economic development corporation (IEDC) and the arts commission for designation of a cultural and performing arts development district (district). Provides that the IEDC may approve up to two districts each calendar year until December 31 of the calendar year following the second calendar year in which the IEDC approves a district. Establishes procedures for the allocation of incremental property tax, sales tax, and income tax revenue to the redevelopment commission for use within the district. Authorizes the issuance of bonds for projects within the district. Provides that the IEDC may not approve an EDGE credit for a business located in a district unless the political subdivision that created the district has adopted an ordinance recommending a credit in an amount at least equal to the credit amount agreed to by the IEDC and the business.
Current Status:
 In Committee - first House
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