DIGEST OF INTRODUCED BILL
Referendum on LOIT used for debt service. Provides that registered voters of a political subdivision may request, through a petition and remonstrance process, a referendum on bond issues and lease agreements for certain controlled projects if the bonds or leases will be paid from local option income taxes (LOITs). Provides that if no election will be held within six months after the date the auditor certifies the public question, the political subdivision may request a special election. Provides that if a special election is requested in a year in which a general election or municipal election will be held, a special election will be held only if the political subdivision requesting the special election agrees to pay the costs.