reglab/housing_qa huggingface dataset:
IN Code § 36-7-12-25 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 12. Economic Development and Pollution Control|36-7-12-25. Approval of Proposed Financing by Unit; Authorization Bond Issuance; Approval of Changes

Sec. 25. (a) If the fiscal body of the unit proposing to issue the bonds finds that the financing approved under section 24 of this chapter will be of benefit to the health or general welfare of the unit proposing to issue the bonds the unit where the facilities are to be located, or both, and complies with this chapter, it may adopt an ordinance approving the proposed financing in the form that the financing was approved by the economic development commission or as modified by the fiscal body in its discretion.(b) The ordinance may also authorize the issuance of bonds payable solely from revenues and receipts derived from the financing agreement or from payments made under a guaranty agreement by developers, users, or related persons. The bonds are not in any respect a general obligation of the unit, nor are they payable in any manner from revenues raised by taxation.(c) The financing agreements, trust indentures (if any), and bonds must be executed by the:(1) executive; and(2) clerk of the fiscal body;of the unit approving the financing. These officials may by their execution approve changes therein without further approval of the fiscal body or the economic development commission of the unit if such changes do not affect terms contained in the ordinance pursuant to section 27(a)(1) through (a)(10) of this chapter and if the ordinance authorizes these officials to approve such changes.[Pre-Local Government Recodification Citation: 18-6-4.5-18.]As added by Acts 1981, P.L.309, SEC.31. Amended by Acts 1982, P.L.28, SEC.5; P.L.25-1987, SEC.52.
IN Code § 36-7-12-26 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 12. Economic Development and Pollution Control|36-7-12-26. Financing Agreements; Terms

Sec. 26. (a) A financing agreement approved under this chapter must provide for payments in an amount sufficient to pay the principal of, premium (if any), and interest on the bonds authorized for and allocable to the financing of the facilities. However, interest payments for the anticipated construction period, plus a period of not more than one (1) year, may be funded in the issue.(b) The term of a financing agreement may not exceed forty (40) years from the date of any bonds issued under the financing agreement. However, a financing agreement does not terminate after forty (40) years if a default under that agreement remains uncured, unless the termination is authorized by the terms of the financing agreement.(c) If the unit retains an interest in the facilities, the financing agreement must require the user or the developer to pay all costs of maintenance, repair, taxes, assessments, insurance premiums, trustee's fees, and any other expenses relating to the facilities, so that the unit will not incur any expenses on account of the facilities other than those that are covered by the payments provided for in the financing agreement.[Pre-Local Government Recodification Citation: 18-6-4.5-19.]As added by Acts 1981, P.L.309, SEC.31. Amended by Acts 1982, P.L.28, SEC.6; P.L.25-1987, SEC.53.
IN Code § 36-7-12-27.5 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 12. Economic Development and Pollution Control|36-7-12-27.5. Legal Representation of Commission; Conflict of Interest; Offense

Sec. 27.5. (a) If an attorney represents an economic development commission, neither the attorney nor a member of the attorney's firm or professional corporation may also represent an applicant for a bond issue from the commission.(b) A person who violates this section commits a Class A misdemeanor.As added by Acts 1981, P.L.310, SEC.74. Amended by P.L.127-2017, SEC.200.
IN Code § 36-7-12-28 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 12. Economic Development and Pollution Control|36-7-12-28. Trust Indentures Securing Bonds

Sec. 28. (a) The fiscal body of a unit issuing bonds under this chapter may secure them by a trust indenture between the unit and a corporate trustee. The corporate trustee may be any trust company, national bank, or state bank that is in Indiana and has trust powers.(b) A trust indenture under this section may:(1) mortgage the land, any interest in land, or the facilities on account of which the bonds are issued;(2) pledge all or part of the payments to be received by the unit;(3) set forth the rights and remedies of the trustee and the holders of the bonds, including provisions restricting the individual right of action of the holders;(4) contain provisions considered reasonable for protecting and enforcing the rights and remedies of the holders or lenders, including covenants setting forth duties of the unit and the economic development commission regarding:(A) the construction of the facilities; and(B) the custody, safeguarding, application, and investment of revenues received or to be received by the unit on account of the facilities financed by the issuance of the bonds;(5) contain provisions regarding the investment of money, the sale, exchange, or disposal of property, and the manner of authorizing and making payments, notwithstanding any general statute relating to these matters; and(6) provide for the establishment of reserve funds from the proceeds of the bonds or from other sources to secure the prompt payment of the principal and interest on them.[Pre-Local Government Recodification Citation: 18-6-4.5-22.]As added by Acts 1981, P.L.309, SEC.31. Amended by Acts 1982, P.L.28, SEC.8; P.L.25-1987, SEC.54.
IN Code § 36-7-12-29 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 12. Economic Development and Pollution Control|36-7-12-29. Application of Bond Proceeds

Sec. 29. (a) Preliminary expenses advanced by a person may be reimbursed from the proceeds of bonds issued under this chapter. An economic development commission may provide for a maximum fee of one percent (1%) of the total amount of the issue to be paid to the commission from the proceeds of the issue to help in covering its costs of operation. However, the fee charged by a commission to cover the costs of operation may not exceed ten thousand dollars ($10,000) per issue for a single project issue or ten thousand dollars ($10,000) per project in the case of program financing under section 18.5 of this chapter.(b) Any money received from bonds issued under this chapter, after reimbursement and payment under subsection (a), may be used for the following purposes:(1) The payment of the costs of economic development and pollution control facilities on account of which the bonds are issued, including both direct financing of such facilities and program financing under section 18.5 of this chapter.(2) Issuance expenses for bonds authorized by this chapter.(3) Interest on bonds authorized by this chapter for the anticipated construction period of the facilities being financed, plus interest on bonds authorized by this chapter for a period of one (1) year after that.(4) Funding a reserve fund for payment of the principal of, premium (if any), and interest on bonds issued under this chapter.(5) Working capital when financed in conjunction with economic development or pollution control facilities financed pursuant to program financing authorized under section 18.5 of this chapter if the program is funded with proceeds of taxable bonds.Until the money is applied under subdivision (1), it is subject to a lien in favor of the holders of the bonds or the trustee under the trust indenture, if any.[Pre-Local Government Recodification Citation: 18-6-4.5-23.]As added by Acts 1981, P.L.309, SEC.31. Amended by Acts 1982, P.L.28, SEC.9; P.L.25-1987, SEC.55; P.L.35-1990, SEC.50.
IN Code § 36-7-12-30 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 12. Economic Development and Pollution Control|36-7-12-30. Refunding Bonds

Sec. 30. (a) If the fiscal body of the unit finds that a refunding of outstanding bonds issued under this chapter would be of benefit to the health and general welfare of the unit and would comply with this chapter, it may authorize the issuance of bonds in accordance with IC 5-1-5 to refund those outstanding bonds. A savings to the issuing body as provided in IC 5-1-5-2 is not required for the issuance of the refunding bonds, or the issuance of bonds to refund refunding bonds.(b) Refunding bonds issued under this section are payable solely from revenues and receipts derived from:(1) financing agreements with the users or developers of the facilities originally financed by the outstanding bonds, or related persons; or(2) from payments made under guaranty agreements by developers, users, or related persons.The financing agreements or guaranties may be new financing agreements or guaranties or amendments of the original financing agreements or guaranties.(c) Refunding bonds issued under this section are not in any respect a general obligation of the unit, nor are they payable in any manner from revenues raised by taxation.(d) Sections 18(b), 23, and 24 of this chapter do not apply to the issuance of refunding bonds under this section.[Pre-Local Government Recodification Citation: 18-6-4.5-30.]As added by Acts 1981, P.L.309, SEC.31. Amended by Acts 1982, P.L.28, SEC.10; P.L.25-1987, SEC.56.
IN Code § 36-7-12-31 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 12. Economic Development and Pollution Control|36-7-12-31. Bonds, Notes, Warrants, Proceeds, and Interest; Exemption From State Taxes

Sec. 31. Bonds, notes, or warrants issued under this chapter and:(1) proceeds received from their sale by a holder, to the extent of the holder's cost of acquisition;(2) proceeds received on their redemption before maturity;(3) proceeds received at their maturity; and(4) interest received on them;are exempt from state taxes as provided by IC 6-8-5.[Pre-Local Government Recodification Citation: 18-6-4.5-25.]As added by Acts 1981, P.L.309, SEC.31. Amended by Acts 1982, P.L.28, SEC.11.
IN Code § 36-7-12-32.1 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 12. Economic Development and Pollution Control|36-7-12-32.1. Exemption From Securities Registration

Sec. 32.1. Any security, including bonds issued in connection with a financing under this chapter, is exempt from the registration requirements of IC 23-19 and other securities registration statutes.As added by P.L.25-1987, SEC.57. Amended by P.L.27-2007, SEC.33.
IN Code § 36-7-12-33 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 12. Economic Development and Pollution Control|36-7-12-33. Property Taxes; Liability and Exemptions

Sec. 33. (a) A unit is exempt from all property taxes on economic development or pollution control facilities.(b) A developer or user is liable for property taxes on economic development or pollution control facilities as provided by statute. However, this section does not deny any tax exemption a developer or user may have under other statutes because of the nature of the facilities or the developer or user.[Pre-Local Government Recodification Citation: 18-6-4.5-24.]As added by Acts 1981, P.L.309, SEC.31. Amended by P.L.25-1987, SEC.58.
IN Code § 36-7-12-34 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 12. Economic Development and Pollution Control|36-7-12-34. Payments Received by Units; Exemption From Tax

Sec. 34. Payments received by units under financing agreements authorized by this chapter are exempt from all taxation.[Pre-Local Government Recodification Citation: 18-6-4.5-26.]As added by Acts 1981, P.L.309, SEC.31.
IN Code § 36-7-12-35 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 12. Economic Development and Pollution Control|36-7-12-35. Responsibility for Construction Approval

Sec. 35. The user or developer is responsible for obtaining and maintaining all approvals and permits required for the construction of economic development or pollution control facilities under this chapter.[Pre-Local Government Recodification Citation: 18-6-4.5-27.]As added by Acts 1981, P.L.309, SEC.31.
IN Code § 36-7-12-36 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 12. Economic Development and Pollution Control|36-7-12-36. Commissions; Annual Reports

Sec. 36. (a) Each commission shall file a report, within thirty (30) days after its initial meeting and on each subsequent January 31, with the fiscal body that it serves.(b) A report under subsection (a) must contain:(1) information on the operations, activities, and financial expenditures of the commission during the preceding calendar year; and(2) any other information required by the fiscal body that the commission serves.[Pre-Local Government Recodification Citation: 18-6-4.5-29.]As added by Acts 1981, P.L.309, SEC.31. Amended by P.L.1-2006, SEC.563; P.L.237-2017, SEC.46.
IN Code § 36-7-12-39 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 12. Economic Development and Pollution Control|36-7-12-39. Validation of Prior Authorized Bonds

Sec. 39. Any bonds authorized to be issued under the authority of this chapter by a resolution adopted under section 24 of this chapter before June 1, 1985, remain valid regardless of any amendments made to this chapter by P.L.20-1985.As added by P.L.25-1987, SEC.59.
IN Code § 36-7-13-1 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 13. Industrial Development|36-7-13-1. Application of Chapter

Sec. 1. This chapter applies to all units except townships.[Pre-Local Government Recodification Citation: 18-7-14-2 part.]As added by Acts 1981, P.L.309, SEC.32. Amended by Acts 1981, P.L.310, SEC.75; P.L.262-1993, SEC.1.
IN Code § 36-7-13-1.6 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 13. Industrial Development|36-7-13-1.6. "District"

Sec. 1.6. As used in this chapter, "district" refers to a community revitalization enhancement district designated under section 10.5, 12, or 12.1 of this chapter.As added by P.L.125-1998, SEC.4. Amended by P.L.174-2001, SEC.1; P.L.224-2003, SEC.232.
IN Code § 36-7-13-2.4 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 13. Industrial Development|36-7-13-2.4. "Gross Retail Base Period Amount"

Sec. 2.4. Except as provided in section 10.7(c) of this chapter, as used in this chapter, "gross retail base period amount" means:(1) the aggregate amount of state gross retail and use taxes remitted under IC 6-2.5 by the businesses operating in the territory comprising a district during the full state fiscal year that precedes the date on which:(A) an advisory commission on industrial development adopted a resolution designating the district, in the case of a district that is not described in section 12(c) of this chapter; or(B) the legislative body of a county or municipality adopts an ordinance designating a district under section 10.5 of this chapter;(2) an amount equal to:(A) the aggregate amount of state gross retail and use taxes remitted:(i) under IC 6-2.5 by the businesses operating in the territory comprising a district; and(ii) during the month in which an advisory commission on industrial development adopted a resolution designating the district; multiplied by(B) twelve (12);in the case of a district that is described in section 12(c) of this chapter; or(3) an amount equal to the amount determined under subdivision (1) or (2); plus:(A) the aggregate amount of state gross retail and use taxes remitted:(i) under IC 6-2.5 by the businesses operating in the territory added to the district; and(ii) during the month in which a petition to modify the district's boundaries is approved by the budget agency under section 12.5 of this chapter; multiplied by(B) twelve (12);in the case of a district modified under section 12.5 of this chapter.As added by P.L.125-1998, SEC.5. Amended by P.L.138-1999, SEC.1; P.L.174-2001, SEC.2; P.L.178-2002, SEC.116; P.L.81-2004, SEC.31 and P.L.90-2004, SEC.4.
IN Code § 36-7-13-2.6 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 13. Industrial Development|36-7-13-2.6. "Gross Retail Incremental Amount"

Sec. 2.6. (a) Except as provided in subsection (b), as used in this chapter, "gross retail incremental amount" means the remainder of:(1) the aggregate amount of state gross retail and use taxes that are remitted under IC 6-2.5 by businesses operating in a district during a state fiscal year; minus(2) the gross retail base period amount;as determined by the department of state revenue under section 14 of this chapter.(b) For purposes of a district designated under section 12.1 of this chapter, "gross retail incremental amount" means seventy-five percent (75%) of the amount described in subsection (a).As added by P.L.125-1998, SEC.6. Amended by P.L.224-2003, SEC.233.
IN Code § 36-7-13-3 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 13. Industrial Development|36-7-13-3. "Improve"; Authority to Acquire, Own, and Deal in Real Property; Expenditure of Funds

Sec. 3. (a) For purposes of this chapter, "improve" means to construct, reconstruct, or repair public ways, sidewalks, sewers, drains, fences, or buildings, and to do all other things that would enhance the value of real property and make it more suitable to industrial use.(b) A unit may acquire by purchase, gift, or devise, and own, improve, maintain, sell, lease, convey, contract for, or otherwise deal in, real property for the development of industrial parks or industrial sites.(c) A municipality may exercise powers granted by subsection (b) in areas within five (5) miles outside its corporate boundaries.(d) When a district is designated under section 12(e) of this chapter, a unit may expend funds for the purposes set forth in subsections (a) and (b) for the development of or to enhance the value of real property used for retail purposes.(e) When a district is designated under section 12.1 of this chapter, a unit may expend funds for the purposes set forth in section 12.1(b) of this chapter for the development of or to enhance the value of real property used for retail purposes and to make it more suitable to industrial or retail use.[Pre-Local Government Recodification Citations: 18-7-14-2 part; 18-7-14-3.]As added by Acts 1981, P.L.309, SEC.32. Amended by Acts 1981, P.L.310, SEC.76; P.L.262-1993, SEC.2; P.L.113-2002, SEC.4; P.L.224-2003, SEC.234.
IN Code § 36-7-13-3.2 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 13. Industrial Development|36-7-13-3.2. "Income Tax Base Period Amount"

Sec. 3.2. Except as provided in section 10.7(d) of this chapter, as used in this chapter, "income tax base period amount" means:(1) the aggregate amount of state and local income taxes paid by employees employed in the territory comprising a district with respect to wages and salary earned for work in the district for the state fiscal year that precedes the date on which:(A) an advisory commission on industrial development adopted a resolution designating the district, in the case of a district that is not described in section 12(c) of this chapter; or(B) the legislative body of a county or municipality adopts an ordinance designating a district under section 10.5 of this chapter;(2) an amount equal to:(A) the aggregate amount of state and local income taxes paid by employees employed in the territory comprising a district with respect to wages and salary earned for work in the district during the month in which an advisory commission on industrial development adopted a resolution designating the district; multiplied by(B) twelve (12);in the case of a district that is described in section 12(c) of this chapter; or(3) an amount equal to the amount determined under subdivision (1) or (2); plus:(A) the aggregate amount of state and local income taxes paid by employees employed in the territory added to the district with respect to wages and salary earned for work in the modified district during the month in which a petition to modify the district's boundaries is approved by the budget agency under section 12.5 of this chapter; multiplied by(B) twelve (12);in the case of a district modified under section 12.5 of this chapter.As added by P.L.125-1998, SEC.7. Amended by P.L.138-1999, SEC.2; P.L.174-2001, SEC.3; P.L.178-2002, SEC.117; P.L.81-2004, SEC.32 and P.L.90-2004, SEC.5.
IN Code § 36-7-13-3.4 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 13. Industrial Development|36-7-13-3.4. "Income Tax Incremental Amount"

Sec. 3.4. (a) Except as provided in subsection (b), as used in this chapter, "income tax incremental amount" means the remainder of:(1) the aggregate amount of state and local income taxes paid by employees employed in a district with respect to wages earned for work in the district for a particular state fiscal year; minus(2) the sum of the:(A) income tax base period amount; and(B) tax credits awarded by the economic development for a growing economy board under IC 6-3.1-13 to businesses operating in a district as the result of wages earned for work in the district for the state fiscal year;as determined by the department of state revenue under section 14 of this chapter.(b) For purposes of a district designated under section 12.1 of this chapter, "income tax incremental amount" means seventy-five percent (75%) of the amount described in subsection (a).As added by P.L.125-1998, SEC.8. Amended by P.L.224-2003, SEC.235; P.L.199-2005, SEC.30.
IN Code § 36-7-13-3.8 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 13. Industrial Development|36-7-13-3.8. "State and Local Income Taxes"

Sec. 3.8. As used in this chapter, "state and local income taxes" means taxes imposed under any of the following:(1) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax).(2) IC 6-3.6 (local income tax).As added by P.L.125-1998, SEC.9. Amended by P.L.192-2002(ss), SEC.174; P.L.197-2016, SEC.125.
IN Code § 36-7-13-4 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7. Planning and Development|Chapter 13. Industrial Development|36-7-13-4. Industrial Development Fund; Tax Levy

Sec. 4. (a) To provide money for the purposes set forth in section 3 of this chapter, the unit shall create a special revolving fund to be known as the industrial development fund, into which any available and unappropriated money of the unit may be transferred by the unit's legislative body.(b) The legislative body may also by ordinance levy a tax not to exceed one and sixty-seven hundredths cents ($0.0167) on each one hundred dollars ($100) of assessed value of all personal and real property within its jurisdiction. The proceeds of this tax shall be deposited in the industrial development fund. The unit may collect the tax as other municipal or county taxes are collected, or may set up a system for the collection and enforcement of the tax in the unit. Money in the industrial development fund may be used for any purpose authorized by this chapter and may be pledged for the payment of principal and interest on bonds or other obligations issued under this chapter.[Pre-Local Government Recodification Citation: 18-7-14-4.]As added by Acts 1981, P.L.309, SEC.32. Amended by Acts 1981, P.L.310, SEC.77; P.L.262-1993, SEC.3; P.L.6-1997, SEC.208; P.L.125-1998, SEC.10; P.L.125-1998, SEC.11; P.L.203-2005, SEC.8.