Sec. 25. The board may not approve a resolution under section 16 of this chapter until the board has satisfied itself that the city in which the proposed district will be established has maximized the use of tax increment financing under IC 36-7-14 or IC 36-7-14.5 to finance public improvements within or serving the proposed district. The city may not grant property tax abatements to the taxpayers within the proposed district or a district, except that the board may approve a resolution under section 16 of this chapter in the proposed district or a district in which real property tax abatement not to exceed three (3) years has been granted.
As added by P.L.35-1990, SEC.63. Amended by P.L.146-2008, SEC.769.
Structure Indiana Code
Article 7. Planning and Development
Chapter 26. Economic Development Project Districts
36-7-26-1. Application of Chapter
36-7-26-2. Legislative Findings and Declarations; Construction
36-7-26-3. "Adjustment Factor" Defined
36-7-26-4. "Base Period Amount" Defined
36-7-26-6. "Commission" Defined
36-7-26-7. "Department" Defined
36-7-26-10. "Gross Increment" Defined
36-7-26-11. "Local Public Improvement" Defined
36-7-26-12. "Net Increment" Defined
36-7-26-13. Power and Duties of Commission, Department, and Board
36-7-26-14. Compilation of Data; Requirements for Proposed Districts
36-7-26-15. Resolution Declaring Area as District; Adoption
36-7-26-18. Final Action on Resolution
36-7-26-19. Appeal; Dismissal; Bond; Burden of Proof
36-7-26-20. Approval of District by Ordinance
36-7-26-21. Delivery of Copy of Resolution to Department; List of Street Names and Numbers
36-7-26-24. Bonds; Issuance; Lease Rental Payments; Remitted Funds; Distributions
36-7-26-25. Maximization of Use of Tax Increment Financing by City; Property Tax Abatements
36-7-26-26. Credit Account; Use of Funds
36-7-26-27. Repeal or Amendment of Chapter; Adverse Effect on Bond Owners