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.
Structure Indiana Code
Article 7. Planning and Development
Chapter 32.5. Innovation Development Districts
36-7-32.5-1. "Base Assessed Value"
36-7-32.5-4. "Gross Retail Base Period Amount"
36-7-32.5-5. "Gross Retail Incremental Amount"
36-7-32.5-6. "Income Tax Base Period Amount"
36-7-32.5-7. "Income Tax Incremental Amount"
36-7-32.5-11. Term of Designation of an Innovation Development District
36-7-32.5-12. Agreement; Required Provisions; Executive Session; Written Report
36-7-32.5-13. Allocation Area Designation
36-7-32.5-14. Allocation of Tax Proceeds; Allocation of Excess Assessed Value
36-7-32.5-15. Agreement With Taxpayer; Exemption of Property From Taxation
36-7-32.5-16. Administrative Rules; Neutralization of Effect of Reassessment or Annual Adjustment
36-7-32.5-18. Tax Incremental Amount Calculations; Transfer of Tax Incremental Amounts
36-7-32.5-20. Statewide Innovation Development District Fund; Administration; Use of Money in Fund