Introduced Senate Bill (S)

DIGEST

Marion County CRED district. Provides that a community revitalization enhancement district (district) that is established in Marion County before May 1, 2017, may use captured tax revenue and funds from its industrial revenue fund to improve the value of real property in the district to be more suitable for residential development. Amends the definition of "qualified investment" for purposes of the community revitalization enhancement district tax credit to include a taxpayer's expenditures made on residential property in a district in Marion County established before May 1, 2017. Marion County CRED district. Provides that a community revitalization enhancement district (district) that is established in Marion County before May 1, 2017, may use captured tax revenue and funds from its industrial revenue fund to improve the value of real property in the district to be more suitable for residential development. Amends the definition of "qualified investment" for purposes of the community revitalization enhancement district tax credit to include a taxpayer's expenditures made on residential property in a district in Marion County established before May 1, 2017.