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House Bill 1245


House Bill 1245

ARCHIVE (2008)

Latest Information

 

DIGEST OF HB1245 (Updated January 30, 2008 3:37 pm - DI 84)


Mass transit funding. Provides that a public transportation corporation located in a county having a consolidated city may receive each year, at the election of the public transportation corporation, 3% of the county's certified distribution of county option income tax revenue for the year. Establishes the regional transportation authority formation fund. Provides that a county, city, or town located with in a regional transit authority may establish a transit development district to improve transportation infrastructure within the transit development district. Provides that a transit development district captures a part of the sales taxes collected in the transit development district. Requires the fiscal body of the unit establishing a transit development district to appropriate the captured revenues to the regional transit authority. Requires a regional transit authority to distribute 25% of any funds received from a transit development district to the regional transportation authority formation fund. Provides the fund shall be administered by the Indiana department of transportation. Requires the money in the fund to be used to make matching grants of up to 20% of the costs incurred by a county or municipality in establishing a regional transportation authority. Repeals the automated transit district statute.
Current Status:
 In Committee - 2nd House
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