reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-8.5. "Income Tax Incremental Amount"

Sec. 8.5. As used in this chapter, "income tax incremental amount" means the following:
(1) Except as provided in subdivision (2), the remainder of:
(A) the total amount of state adjusted gross income taxes and local income taxes paid by employees employed in the territory comprising the certified technology park with respect to wages and salary earned for work in the territory comprising the certified technology park for a particular state fiscal year; minus
(B) the sum of the:
(i) income tax base period amount as defined in section 8 of this chapter; and
(ii) tax credits awarded by the Indiana economic development corporation under IC 6-3.1-13 to businesses operating in a certified technology park as the result of wages earned for work in the certified technology park for the state fiscal year;
as determined by the department of state revenue.
(2) In the case of a certified technology park for which the amount limit under section 22(c) or 22(d) of this chapter has been exceeded, the remainder of:
(A) the total amount of state adjusted gross income taxes and local income taxes paid by employees employed in the territory comprising the certified technology park with respect to wages and salary earned for work in the territory comprising the certified technology park for a particular state fiscal year; minus
(B) the sum of the:
(i) income tax base period amount as defined in section 8 of this chapter; and
(ii) tax credits awarded by the Indiana economic development corporation under IC 6-3.1-13 to businesses operating in a certified technology park as the result of wages earned for work in the certified technology park for the state fiscal year;
as determined by the department of state revenue.
As added by P.L.199-2005, SEC.39. Amended by P.L.197-2016, SEC.138; P.L.259-2017, SEC.1; P.L.158-2019, SEC.31; P.L.154-2020, SEC.50.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-9. "Public Facilities"

Sec. 9. As used in this chapter, subject to the approval of the Indiana economic development corporation under an agreement entered into under section 12 of this chapter, "public facilities" includes the following:
(1) A street, road, bridge, storm water or sanitary sewer, sewage treatment facility, facility designed to reduce, eliminate, or prevent the spread of identified soil or groundwater contamination, drainage system, retention basin, pretreatment facility, waterway, waterline, water storage facility, rail line, electric, gas, telephone or other communications, or any other type of utility line or pipeline, or other similar or related structure or improvement, together with necessary easements for the structure or improvement. Except for rail lines, utility lines, or pipelines, the structures or improvements described in this subdivision must be either owned or used by a public agency, functionally connected to similar or supporting facilities owned or used by a public agency, or designed and dedicated to use by, for the benefit of, or for the protection of the health, welfare, or safety of the public generally, whether or not used by a single business entity. Any road, street, or bridge must be continuously open to public access. A public facility must be located on public property or in a public, utility, or transportation easement or right-of-way.
(2) Land and other assets that are or may become eligible for depreciation for federal income tax purposes for a business incubator located in a certified technology park.
(3) Land and other assets that, if privately owned, would be eligible for depreciation for federal income tax purposes for laboratory facilities, research and development facilities, conference facilities, teleconference facilities, testing facilities, training facilities, or quality control facilities:
(A) that are or that support property whose primary purpose and use is or will be for a high technology activity;
(B) that are owned by a public entity; and
(C) that are located within a certified technology park.
As added by P.L.192-2002(ss), SEC.187. Amended by P.L.4-2005, SEC.142.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-10. Application; Designation of Area as Certified Technology Park; Expansion Across County Lines

Sec. 10. (a) A unit may apply to the Indiana economic development corporation for designation of all or part of the territory within the jurisdiction of the unit's redevelopment commission as a certified technology park and to enter into an agreement governing the terms and conditions of the designation. The application must be in a form specified by the Indiana economic development corporation and must include information the corporation determines necessary to make the determinations required under section 11 of this chapter.
(b) This subsection applies only to a unit in which a certified technology park designated before January 1, 2005, is located. A unit may apply to the Indiana economic development corporation for permission to expand the unit's certified technology park to include territory that is adjacent to the unit's certified technology park but located in another county. The corporation shall grant the unit permission to expand the certified technology park if the unit and the redevelopment commission having jurisdiction over the adjacent territory approve the proposed expansion in a resolution. A certified copy of each resolution approving the proposed expansion must be attached to the application submitted under this subsection.
As added by P.L.192-2002(ss), SEC.187. Amended by P.L.4-2005, SEC.143; P.L.203-2005, SEC.12.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-11.5. Submission of Proposed Designations to the Budget Committee and the Budget Agency

Sec. 11.5. (a) If the Indiana economic development corporation desires to designate a certified technology park under this chapter, the corporation shall submit its proposed designation to the budget committee for review and recommendation to the budget agency. The budget committee shall meet not later than sixty (60) days after receipt of the proposed designation and shall make a recommendation on the designation to the budget agency.
(b) When considering the proposed designation of a certified technology park by the corporation under this section, the budget committee and the budget agency must make the following findings before approving the designation:
(1) The area to be designated as a certified technology park meets the conditions necessary for the designation as a certified technology park.
(2) The designation of the certified technology park will benefit the people of Indiana by protecting or increasing state and local tax bases and tax revenues for at least the duration of the certified technology park.
(c) The income tax incremental amount and the gross retail incremental amount may not be allocated to the certified technology park until the designation of the certified technology park is approved under this section.
As added by P.L.293-2013(ts), SEC.45.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-12. Agreements; Governing Certified Technology Parks

Sec. 12. A redevelopment commission and the legislative body of the unit that established the redevelopment commission may enter into an agreement with the Indiana economic development corporation establishing the terms and conditions governing a certified technology park designated under section 11 of this chapter. Upon designation of the certified technology park under the terms of the agreement, the subsequent failure of any party to comply with the terms of the agreement may result in the termination or rescission of the designation of the area as a certified technology park. The agreement must include the following provisions:
(1) A description of the area to be included within the certified technology park.
(2) Covenants and restrictions, if any, upon all or a part of the properties contained within the certified technology park and terms of enforcement of any covenants or restrictions.
(3) The financial commitments of any party to the agreement and of any owner or developer of property within the certified technology park.
(4) The terms of any commitment required from a postsecondary educational institution or private research based institute for support of the operations and activities within the certified technology park.
(5) The terms of enforcement of the agreement, which may include the definition of events of default, cure periods, legal and equitable remedies and rights, and penalties and damages, actual or liquidated, upon the occurrence of an event of default.
(6) The public facilities to be developed for the certified technology park and the costs of those public facilities, as approved by the Indiana economic development corporation.
As added by P.L.192-2002(ss), SEC.187. Amended by P.L.4-2005, SEC.145; P.L.2-2007, SEC.389; P.L.154-2007, SEC.2.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-13. Authority; Sale Price or Rental Value of Public Facilities Below Market Value

Sec. 13. (a) If the Indiana economic development corporation determines that a sale price or rental value at below market rate will assist in increasing employment or private investment in a certified technology park, the redevelopment commission and the legislative body of the unit may determine the sale price or rental value for public facilities owned or developed by the redevelopment commission and the unit in the certified technology park at below market rate.
(b) If public facilities developed under an agreement entered into under this chapter are conveyed or leased at less than fair market value or at below market rates, the terms of the conveyance or lease shall include legal and equitable remedies and rights to assure that the public facilities are used for high technology activities or as a business incubator. Legal and equitable remedies and rights may include penalties and actual or liquidated damages.
As added by P.L.192-2002(ss), SEC.187. Amended by P.L.4-2005, SEC.146.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-14. Marketing Responsibilities; Indiana Economic Development Corporation

Sec. 14. The Indiana economic development corporation shall market the certified technology park. The corporation and a redevelopment commission may contract with each other or any third party for these marketing services.
As added by P.L.192-2002(ss), SEC.187. Amended by P.L.4-2005, SEC.147.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-16. Appeals; Remonstrance

Sec. 16. (a) A person who files a written remonstrance with the redevelopment commission under section 15 of this chapter and who is aggrieved by the final action taken may, within ten (10) days after that final action, file with the office of the clerk of the circuit or superior court of the county a copy of the redevelopment commission's resolution and the person's remonstrance against the resolution, together with the person's bond as provided by IC 34-13-5-7.
(b) An appeal under this section shall be promptly heard by the court without a jury. All remonstrances upon which an appeal has been taken shall be consolidated and heard and determined within thirty (30) days after the time of filing of the appeal. The court shall decide the appeal based on the record and evidence before the redevelopment commission, not by trial de novo, and may confirm the final action of the redevelopment commission or sustain the remonstrances. The judgment of the court is final and conclusive, unless an appeal is taken as in other civil actions.
As added by P.L.192-2002(ss), SEC.187.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-17.5. Authorization to Enter Into an Agreement With a Taxpayer for Waiver of Review of an Assessment of Property Taxes in an Allocation Area During the Term of Bonds or Lease Obligations Payable From Allocated Property Taxes

Sec. 17.5. A redevelopment commission may enter into a written agreement with a taxpayer who owns, or is otherwise obligated to pay property taxes on, tangible property that is or will be located in an allocation area established under this chapter in which the taxpayer waives review of any assessment of the taxpayer's tangible property that is located in the allocation area for an assessment date that occurs during the term of any specified bond or lease obligations that are payable from property taxes in accordance with an allocation provision for the allocation area and any applicable statute, ordinance, or resolution. An agreement described in this section may precede the establishment of the allocation area or the determination to issue bonds or enter into leases payable from the allocated property taxes.
As added by P.L.249-2015, SEC.31.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-19. Rules and Forms; Adjustment of Base Assessed Value

Sec. 19. (a) The state board of accounts and department of local government finance shall make the rules and prescribe the forms and procedures that the state board of accounts and department of local government finance consider appropriate for the implementation of an allocation area under this chapter.
(b) After each reassessment of real property in an area under a reassessment plan prepared under IC 6-1.1-4-4.2, the department of local government finance shall adjust the base assessed value one (1) time to neutralize any effect of the reassessment of the real property in the area on the property tax proceeds allocated to the certified technology park fund under section 17 of this chapter. After each annual adjustment under IC 6-1.1-4-4.5, the department of local government finance shall adjust the base assessed value to neutralize any effect of the annual adjustment on the property tax proceeds allocated to the certified technology park fund under section 17 of this chapter.
As added by P.L.192-2002(ss), SEC.187. Amended by P.L.154-2006, SEC.81; P.L.112-2012, SEC.61; P.L.86-2018, SEC.349.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-20. Notification to Department of State Revenue; Computation of Gross Retail Base Revenue

Sec. 20. (a) After entering into an agreement under section 12 of this chapter, the redevelopment commission shall send to the department of state revenue:
(1) a certified copy of the designation of the certified technology park under section 11 of this chapter;
(2) a certified copy of the agreement entered into under section 12 of this chapter; and
(3) a complete list of the employers in the certified technology park and the street names and the range of street numbers of each street in the certified technology park.
The redevelopment commission shall update the list provided under subdivision (3) before July 1 of each year.
(b) Not later than sixty (60) days after receiving a copy of the designation of the certified technology park, the department of state revenue shall determine the gross retail base period amount and the income tax base period amount.
As added by P.L.192-2002(ss), SEC.187.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-21. Annual Computation; Income Tax Incremental Amount; Gross Retail Incremental Amount; District Business Information

Sec. 21. (a) Before the first business day in October of each year, the department of state revenue shall calculate the income tax incremental amount and the gross retail incremental amount for the preceding state fiscal year for each certified technology park designated under this chapter.
(b) Taxpayers operating in the certified technology park shall report annually, in the manner and in the form prescribed by the department, information that the department determines necessary to calculate the net increment.
(c) A taxpayer operating in the certified technology park that files a consolidated tax return with the department also shall file annually an informational return with the department for each business location of the taxpayer within the certified technology park.
(d) If a taxpayer fails to report the information required by this section or file an informational return required by this section, the department shall use the best information available in calculating the income tax incremental amount and the gross retail incremental amount.
As added by P.L.192-2002(ss), SEC.187. Amended by P.L.261-2013, SEC.47.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-23. Certified Technology Park Fund; Deposit of Funds; Uses; Transfers to Third Party Operator or Manager

Sec. 23. (a) Each redevelopment commission that establishes a certified technology park under this chapter shall establish a certified technology park fund to receive:
(1) property tax proceeds allocated under section 17 of this chapter; and
(2) money distributed to the redevelopment commission under section 22 of this chapter.
(b) Money deposited in the certified technology park fund may be used by the redevelopment commission only for one (1) or more of the following purposes:
(1) Acquisition, improvement, preparation, demolition, disposal, construction, reconstruction, remediation, rehabilitation, restoration, preservation, maintenance, repair, furnishing, and equipping of public facilities.
(2) Operation of public facilities described in section 9(2) of this chapter.
(3) Payment of the principal of and interest on any obligations that are payable solely or in part from money deposited in the fund and that are incurred by the redevelopment commission for the purpose of financing or refinancing the development of public facilities in the certified technology park.
(4) Establishment, augmentation, or restoration of the debt service reserve for obligations described in subdivision (3).
(5) Payment of the principal of and interest on bonds issued by the unit to pay for public facilities in or serving the certified technology park.
(6) Payment of premiums on the redemption before maturity of bonds described in subdivision (3).
(7) Payment of amounts due under leases payable from money deposited in the fund.
(8) Reimbursement to the unit for expenditures made by it for public facilities in or serving the certified technology park.
(9) Payment of expenses incurred by the redevelopment commission for public facilities that are in the certified technology park or serving the certified technology park.
(10) For any purpose authorized by an agreement between redevelopment commissions entered into under section 26 of this chapter.
(c) The certified technology park fund may not be used for operating expenses of the redevelopment commission.
(d) If a redevelopment commission has designated a third party manager or operator of the certified technology park, the redevelopment commission shall transfer the appropriate amount from the certified technology park fund to the manager or operator within thirty (30) days of receiving a distribution under section 22 of this chapter.
As added by P.L.192-2002(ss), SEC.187. Amended by P.L.203-2005, SEC.13; P.L.1-2006, SEC.571; P.L.158-2019, SEC.34.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-24. Bonds

Sec. 24. (a) A redevelopment commission may issue bonds for the purpose of providing public facilities under this chapter.
(b) The bonds are payable solely from:
(1) property tax proceeds allocated to the certified technology park fund under section 17 of this chapter;
(2) money distributed to the redevelopment commission under section 22 of this chapter;
(3) other funds available to the redevelopment commission; or
(4) a combination of the methods in subdivisions (1) through (3).
(c) The bonds shall be authorized by a resolution of the redevelopment commission.
(d) The terms and form of the bonds shall be set out either in the resolution or in a form of trust indenture approved by the resolution.
(e) The bonds must mature within fifty (50) years.
(f) The redevelopment commission shall sell the bonds at public or private sale upon such terms as determined by the redevelopment commission.
(g) All money received from any bonds issued under this chapter shall be applied solely to the payment of the cost of providing public facilities within a certified technology park, or the cost of refunding or refinancing outstanding bonds, for which the bonds are issued. The cost may include:
(1) planning and development of the public facilities and all related buildings, facilities, structures, and improvements;
(2) acquisition of a site and clearing and preparing the site for construction;
(3) equipment, facilities, structures, and improvements that are necessary or desirable to make the public facilities suitable for use and operation;
(4) architectural, engineering, consultant, and attorney's fees;
(5) incidental expenses in connection with the issuance and sale of bonds;
(6) reserves for principal and interest;
(7) interest during construction and for a period thereafter determined by the redevelopment commission, but not to exceed five (5) years;
(8) financial advisory fees;
(9) insurance during construction;
(10) municipal bond insurance, debt service reserve insurance, letters of credit, or other credit enhancement; and
(11) in the case of refunding or refinancing, payment of the principal of, redemption premiums, if any, for, and interest on, the bonds being refunded or refinanced.
As added by P.L.192-2002(ss), SEC.187.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-25. Declaration; Public Purpose

Sec. 25. The establishment of high technology activities and public facilities within a technology park serves a public purpose and is of benefit to the general welfare of a unit by encouraging investment, job creation and retention, and economic growth and diversity.
As added by P.L.192-2002(ss), SEC.187.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-26. Written Agreement for Joint Economic Development Projects

Sec. 26. (a) Two (2) or more redevelopment commissions may enter into a written agreement under this section to jointly undertake economic development projects in the certified technology parks established by the redevelopment commissions that are parties to the agreement.
(b) A party to an agreement under this section may do one (1) or more of the following:
(1) Except as provided in subsection (c), grant one (1) or more of its powers to another party to the agreement.
(2) Exercise any power granted to it by a party to the agreement.
(3) Pledge any of its revenues, including taxes or allocated taxes under section 17 of this chapter, to the bonds or lease rental obligations of another party to the agreement under IC 5-1-14-4.
(4) Agree to allocate a part of the maximum amount that may be deposited in the party's incremental tax financing fund to one (1) or more other parties to the agreement.
(c) A redevelopment commission may not grant to another redevelopment commission the power to tax or to establish an allocation area under this chapter.
(d) An action to challenge the validity of an agreement under this section must be brought not more than thirty (30) days after the agreement has been approved by all the parties to the agreement. After that period has passed, the agreement is not contestable for any cause.
As added by P.L.203-2005, SEC.14. Amended by P.L.249-2015, SEC.33.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-27. Terms of Written Agreement for Joint Economic Development Project

Sec. 27. An agreement described in section 26 of this chapter must provide for the following:
(1) The duration of the agreement.
(2) The purpose of the agreement.
(3) The manner of financing, staffing, and supplying the joint undertaking and of establishing and maintaining a budget for the joint undertaking.
(4) The methods that may be employed in accomplishing the partial or complete termination of the agreement and for disposing of property upon partial or complete termination of the agreement.
(5) The manner of acquiring, holding, and disposing of real and personal property used in the joint undertaking.
(6) Any other appropriate matters.
As added by P.L.203-2005, SEC.15.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-28. Allocation Area Limitation

Sec. 28. (a) This section does not apply to a parcel that is included in more than one (1) allocation area established by:
(1) a resolution designating a certified technology park as an allocation area that is approved and adopted under section 15 of this chapter;
(2) a resolution adopted under IC 6-1.1-39-2 and confirmed under IC 6-1.1-39-3;
(3) a resolution adopted under IC 8-22-3.5-5 and confirmed under IC 8-22-3.5-6;
(4) a resolution establishing an allocation provision under IC 36-7-14-39 that is adopted and approved under IC 36-7-14-15, IC 36-7-14-16, and IC 36-7-14-17;
(5) a resolution establishing an allocation provision under IC 36-7-15.1-26 that is adopted and approved under IC 36-7-15.1-8, IC 36-7-15.1-9, and IC 36-7-15.1-10;
(6) a resolution establishing an allocation provision under IC 36-7-30-25 that is adopted and approved under IC 36-7-30-10, IC 36-7-30-11, and IC 36-7-30-12; or
(7) a resolution establishing an allocation provision under IC 36-7-30.5-30 that is adopted and approved under IC 36-7-30.5-16, IC 36-7-30.5-17, and IC 36-7-30.5-18;
on or before May 1, 2021. In addition, a new allocation area may not be established under this chapter that includes a parcel that is located in an allocation area described in this subsection.
(b) Except as provided in subsection (a), but notwithstanding any other provision, for the purpose of the allocation of property taxes under this chapter, a parcel may not be included in more than one (1) allocation area established under this chapter or under:
(1) IC 6-1.1-39;
(2) IC 8-22-3.5;
(3) IC 36-7-14;
(4) IC 36-7-15.1;
(5) IC 36-7-30;
(6) IC 36-7-30.5; or
(7) IC 36-7-32.5.
As added by P.L.38-2021, SEC.97. Amended by P.L.135-2022, SEC.27.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32. Certified Technology Parks › 36-7-32-29. Indiana Economic Development Corporation Report to Budget Committee

Sec. 29. Before January 1, 2024, and before January 1 of each even-numbered year thereafter, the Indiana economic development corporation shall submit a report to the budget committee that includes at least the following information for each certified technology park:
(1) The total number of businesses located in the certified technology park, including the specific number of businesses engaged in high technology activity in the certified technology park.
(2) The number of businesses described in subdivision (1) that have left the certified technology park and the locations to which the businesses moved.
(3) The number of employees of each business described in subdivision (1), and the average annual wage paid to those employees.
(4) The amount of capital investment that each business described in subdivision (1) has secured.
As added by P.L.105-2023, SEC.3.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32.5. Innovation Development Districts › 36-7-32.5-1. "Base Assessed Value"

Sec. 1. As used in this chapter, "base assessed value" means the net assessed value of all the taxable real property that is assessed as commercial or industrial property under the rules of the department of local government finance, and taxable personal property, that is located in an innovation development district as finally determined for the assessment date immediately preceding the effective date of the designation by the corporation under section 9 of this chapter.
As added by P.L.135-2022, SEC.28.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32.5. Innovation Development Districts › 36-7-32.5-1.5. "Contractor"

Sec. 1.5. As used in this chapter, "contractor" has the meaning set forth in IC 6-2.5-1-14.9.
As added by P.L.201-2023, SEC.271.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32.5. Innovation Development Districts › 36-7-32.5-3. "Executive"

Sec. 3. As used in this chapter, "executive" means the following:
(1) In the case of a county that does not have a consolidated city, the president of the board of county commissioners.
(2) In the case of a county having a consolidated city, the mayor.
(3) In the case of a city, the mayor.
(4) In the case of a town that:
(A) does not have a mayor, the president of the town council; or
(B) does have a mayor, the mayor.
As added by P.L.135-2022, SEC.28.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32.5. Innovation Development Districts › 36-7-32.5-4. "Gross Retail Base Period Amount"

Sec. 4. As used in this chapter, "gross retail base period amount" means the aggregate amount of state gross retail and use taxes remitted under IC 6-2.5:
(1) by the businesses operating in the territory comprising an innovation development district; and
(2) that is, in the case of the:
(A) state gross retail tax, collected by a business for sales occurring at a physical location of the business in the innovation development district;
(B) state use tax, incurred with regard to property used in the innovation development district; and
(C) state gross retail and use tax incurred and paid by a contractor with regard to tangible personal property incorporated into real property that is located in the innovation development district, if the:
(i) contractor can determine the amount of state gross retail or use tax incurred and paid on the tangible personal property incorporated into real property that is located in the innovation development district based on records maintained under section 16.5 of this chapter;
(ii) state gross retail or use tax is not otherwise collected in an allocation area listed in section 10(b) of this chapter; and
(iii) state gross retail or use tax is not otherwise included in any innovation development district or section 5 of this chapter;
during the full state fiscal year that precedes the date on which the innovation development district was designated under section 9 of this chapter.
As added by P.L.135-2022, SEC.28. Amended by P.L.11-2023, SEC.122; P.L.201-2023, SEC.272.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32.5. Innovation Development Districts › 36-7-32.5-5. "Gross Retail Incremental Amount"

Sec. 5. 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:
(A) by businesses operating in the territory comprising an innovation development district; and
(B) that is, in the case of the:
(i) state gross retail tax, collected by a business for sales occurring at a physical location of the business in the innovation development district;
(ii) state use tax, incurred with regard to property used in the innovation development district; and
(iii) state gross retail and use tax incurred and paid by a contractor with regard to tangible personal property incorporated into real property that is located in the innovation development district, if the contractor can determine the amount of state gross retail or use tax incurred and paid based on records maintained under section 16.5 of this chapter, the state gross retail and use tax is not otherwise collected in an allocation area listed in section 10(b) of this chapter, and the state gross retail and use tax is not otherwise included in any innovation development district or section 4 of this chapter;
during a state fiscal year; minus
(2) the gross retail base period amount;
as determined by the department of state revenue.
As added by P.L.135-2022, SEC.28. Amended by P.L.11-2023, SEC.123; P.L.201-2023, SEC.273.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32.5. Innovation Development Districts › 36-7-32.5-6. "Income Tax Base Period Amount"

Sec. 6. As used in this chapter, "income tax base period amount" means the aggregate amount of state adjusted gross income taxes paid:
(1) by employees employed in the territory comprising an innovation development district with respect to wages and salary earned for work in the innovation development district; and
(2) by individuals who are not employees with respect to income received for services performed in the territory comprising an innovation development district;
for the state fiscal year that precedes the date on which the innovation development district was designated under section 9 of this chapter. However, the term does not include state adjusted gross income taxes otherwise attributable to an allocation area listed in section 10(b) of this chapter.
As added by P.L.135-2022, SEC.28. Amended by P.L.201-2023, SEC.274.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32.5. Innovation Development Districts › 36-7-32.5-7. "Income Tax Incremental Amount"

Sec. 7. As used in this chapter, "income tax incremental amount" means the remainder of:
(1) the total amount of state adjusted gross income taxes paid:
(A) by employees employed in the territory comprising the innovation development district with respect to wages and salary earned for work in the territory comprising the innovation development district; and
(B) by individuals who are not employees with respect to income received for services performed in the territory comprising an innovation development district;
for a particular state fiscal year that are not otherwise attributable to an allocation area listed in section 10(b) of this chapter; minus
(2) the sum of the:
(A) income tax base period amount; plus
(B) tax credits awarded by the Indiana economic development corporation under IC 6-3.1-13 to businesses operating in an innovation development district as the result of wages earned for work in the innovation development district for the state fiscal year;
as determined by the department of state revenue.
As added by P.L.135-2022, SEC.28. Amended by P.L.201-2023, SEC.275.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32.5. Innovation Development Districts › 36-7-32.5-8. "Net Increment"

Sec. 8. As used in this chapter, "net increment" means the sum of:
(1) the gross retail incremental amount; plus
(2) the income tax incremental amount;
as determined by the department of state revenue.
As added by P.L.135-2022, SEC.28.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32.5. Innovation Development Districts › 36-7-32.5-9. Establishment of Uniform Policies and Guidelines; Designation of an Area as an Innovation Development District

Sec. 9. (a) Before the corporation may designate territory within the jurisdiction of a city, town, or county, or within the jurisdiction of more than one (1) city, town, or county, as an innovation development district under this section, the board of the corporation established under IC 5-28-4 shall establish uniform policies and guidelines that the corporation must follow when notifying and collaborating with an executive, or, if applicable, executives, to designate territory within the jurisdiction of a city, town, or county as an innovation development district under this section. The corporation shall publish the uniform policies and procedures established under this subsection on the corporation's Internet web site.
(b) Subject to section 12(a) of this chapter, after notifying and collaborating with the executive, or, if an innovation development district will include territory within the jurisdiction of more than one (1) city, town, or county, with the executives of each city, town, or county, in the manner provided under the policies and guidelines established under subsection (a), the corporation may designate territory within the jurisdiction of a city, town, or county, or territory within the jurisdiction of more than one (1) city, town, or county, as an innovation development district if the corporation determines that the designation will support economic growth.
(c) The corporation may not designate an innovation development district under this section after June 30, 2025.
As added by P.L.135-2022, SEC.28.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32.5. Innovation Development Districts › 36-7-32.5-10. Prohibitions on Designation of an Area as an Innovation Development District; Development Subject to Zoning Laws

Sec. 10. (a) The corporation may not designate an area as an innovation development district under section 9 of this chapter if the business or businesses that are expected to locate within the innovation development district:
(1) currently operate in Indiana in a location outside of the proposed innovation development district; and
(2) intend to substantially reduce or cease operations at the other location or locations within Indiana in order to relocate to a location within the innovation development district.
(b) Notwithstanding any other provision of this chapter, an innovation development district may not be established in an existing allocation area established under:
(1) IC 5-1-17.5;
(2) IC 6-1.1-39;
(3) IC 8-22-3.5;
(4) IC 36-7-13;
(5) IC 36-7-14;
(6) IC 36-7-15.1;
(7) IC 36-7-30;
(8) IC 36-7-30.5;
(9) IC 36-7-31;
(10) IC 36-7-31.3;
(11) IC 36-7-31.5;
(12) IC 36-7-32;
(13) IC 36-7.5-4.5; or
(14) any other provision that authorizes the establishment of an allocation area.
(c) A development within the innovation development district is subject to any zoning ordinance or other zoning law that otherwise applies to territory within the innovation development district.
As added by P.L.135-2022, SEC.28.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32.5. Innovation Development Districts › 36-7-32.5-11. Term of Designation of an Innovation Development District

Sec. 11. (a) Except as provided in subsection (b), the term of an area's designation as an innovation development district may not exceed thirty (30) years.
(b) The term of an area's designation as an innovation development district may be extended beyond the thirty (30) year term under subsection (a) after budget committee review.
As added by P.L.135-2022, SEC.28.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32.5. Innovation Development Districts › 36-7-32.5-13. Allocation Area Designation

Sec. 13. If an innovation development district is designated under section 9 of this chapter or described under section 12 of this chapter, each executive shall designate the innovation development district as an allocation area for purposes of the allocation and distribution of property taxes. Each executive shall provide notice of the designation to the county auditor and to each taxing unit that has authority to levy property taxes in the geographic area where the innovation development district is located. The notice must state the general boundaries of the innovation development district and include a list of all parcels to be included within the innovation development district.
As added by P.L.135-2022, SEC.28.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32.5. Innovation Development Districts › 36-7-32.5-14. Allocation of Tax Proceeds; Allocation of Excess Assessed Value

Sec. 14. (a) An allocation area designated under section 13 of this chapter must:
(1) apply to the entire innovation development district; and
(2) require that any property tax assessed on taxable real and personal property used for commercial or industrial purposes subsequently levied by or for the benefit of any public body entitled to a distribution of property taxes in the innovation development district be allocated and distributed as provided in subsections (b) and (c).
(b) Except as otherwise provided in this section:
(1) the proceeds of the taxes attributable to the lesser of:
(A) the assessed value of the taxable real and personal property for the assessment date with respect to which the allocation and distribution is made; or
(B) the base assessed value;
shall be allocated and, when collected, paid into the funds of the respective taxing units; and
(2) the excess of the proceeds of the property taxes imposed for the assessment date with respect to which the allocation and distribution is made that are attributable to taxes imposed after being approved by the voters in a referendum or local public question conducted after April 30, 2010, not otherwise included in subdivision (1) shall be allocated to and, when collected, paid into the funds of the taxing unit for which the referendum or local public question was conducted.
(c) Except as provided in subsection (d), all the property tax proceeds that:
(1) exceed those described in subsection (b); and
(2) are attributable to the assessed value of taxable real and personal property used for commercial or industrial purposes;
shall be paid into the appropriate local innovation development district fund established by section 19 of this chapter by the county auditor at the same time that the county auditor distributes property taxes to other local units of government under IC 6-1.1-27. Any remaining property tax proceeds that exceed those described in subsection (b) that are not described in subdivision (2) shall be allocated and, when collected, paid into the funds of the respective taxing units.
(d) Notwithstanding any other law, each assessor shall, upon petition of an executive or the corporation, reassess the taxable real and personal property situated upon or in, or added to, the innovation development district effective on the next assessment date after the petition.
(e) Notwithstanding any other law, the assessed value of all taxable real and personal property in the innovation development district, for purposes of tax limitation, property tax replacement, and formulation of the budget, tax rate, and tax levy for each political subdivision in which the property is located is the lesser of:
(1) the assessed value of the taxable real and personal property as valued without regard to this section; or
(2) the base assessed value.
As added by P.L.135-2022, SEC.28.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32.5. Innovation Development Districts › 36-7-32.5-15. Agreement With Taxpayer; Exemption of Property From Taxation

Sec. 15. (a) An executive or the corporation may enter into a written agreement with a taxpayer who owns, or is otherwise obligated to pay property taxes on, tangible property that is or will be located in an allocation area established under this chapter in which the taxpayer waives review of any assessment of the taxpayer's tangible property that is located in the allocation area for an assessment date that occurs during the term of any specified bond or lease obligations that are payable, in whole or in part, from property taxes in accordance with an allocation provision for the allocation area and any applicable statute, ordinance, or resolution.
(b) Except as provided in subsection (c), but notwithstanding any other law, an executive or the corporation may exempt from taxation any tangible real property improvements or personal property, or a part of real property improvements or personal property, that:
(1) in the case of real property improvements, is assessed as commercial or industrial property under the rules of the department of local government finance;
(2) is located within the innovation development district; and
(3) was:
(A) in the case of real property improvements, constructed; and
(B) in the case of personal property, first entered into service;
after the date that the innovation development district was designated under section 9 of this chapter.
The executive, or the corporation, as applicable, shall notify the county assessor and county auditor of the county in which the real property improvement or personal property is located of an exemption provided under this subsection. An executive who provided an exemption, or the corporation, if the corporation provided the exemption, may terminate the exemption by providing notice to the county assessor and county auditor of the county in which the real property improvement or personal property is located. An exemption, or the termination of an exemption, is effective beginning with the assessment date that immediately follows the date that the notice required under this subsection is provided by the executive or the corporation.
(c) An executive and the corporation may not exempt from taxation any real property improvements or personal property described in subsection (b) after any bonds have been issued by the Indiana finance authority under IC 5-1.2-4-4(a)(2) that are payable from revenues deposited in a local innovation development district fund established under section 19 of this chapter as long as the bonds remain outstanding.
As added by P.L.135-2022, SEC.28.
2023 Indiana Code › Title 36. Local Government › Article 7. Planning and Development › Chapter 32.5. Innovation Development Districts › 36-7-32.5-16. Administrative Rules; Neutralization of Effect of Reassessment or Annual Adjustment

Sec. 16. (a) The state board of accounts, the department of state revenue, and the department of local government finance may adopt rules under IC 4-22-2 and prescribe the forms and procedures that the state board of accounts, the department of state revenue, and the department of local government finance consider appropriate for the implementation of an innovation development district under this chapter. However, before adopting rules under this section, the state board of accounts, the department of state revenue, and the department of local government finance shall submit a report to the budget committee that:
(1) describes the rules proposed by the state board of accounts, the department of state revenue, and the department of local government finance; and
(2) recommends statutory changes necessary to implement the provisions of this chapter.
(b) After each reassessment of real property in an area under a county's reassessment plan prepared under IC 6-1.1-4-4.2, the department of local government finance shall adjust the base assessed value one (1) time to neutralize any effect of the reassessment of the real property in the area on the property tax proceeds allocated to the local innovation development district fund established by section 19 of this chapter.
(c) After each annual adjustment under IC 6-1.1-4-4.5, the department of local government finance shall adjust the base assessed value to neutralize any effect of the annual adjustment on the property tax proceeds allocated to the local innovation development district fund established by section 19 of this chapter.
As added by P.L.135-2022, SEC.28.