Senate Bill (S)

Authored by

DIGEST

Tax increment financing in Marion County. Requires the Indianapolis metropolitan development commission to establish a new base assessed value beginning in 2018 for purposes of determining the incremental tax revenue for the Marion County airport economic development area. Specifies that the base assessed value must be set at the amount that will limit the incremental revenue to 150% of the debt service of the bonds denominated as series 2007 and 2007A as of January 1, 2017. (The base assessed value is used in determining revenue for other taxing units.) Tax increment financing in Marion County. Requires the Indianapolis metropolitan development commission to establish a new base assessed value beginning in 2018 for purposes of determining the incremental tax revenue for the Marion County airport economic development area. Specifies that the base assessed value must be set at the amount that will limit the incremental revenue to 150% of the debt service of the bonds denominated as series 2007 and 2007A as of January 1, 2017. (The base assessed value is used in determining revenue for other taxing units.)