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 by businesses:
(A) 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; and
(ii) state use tax, incurred with regard to property used in the innovation development district;
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.
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