Indiana Code
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 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 for a particular state fiscal year; 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.

Structure Indiana Code

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"

36-7-32.5-2. "Corporation"

36-7-32.5-3. "Executive"

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"

36-7-32.5-8. "Net Increment"

36-7-32.5-9. Establishment of Uniform Policies and Guidelines; Designation of an Area as an Innovation Development District

36-7-32.5-10. Prohibitions on Designation of an Area as an Innovation Development District; Development Subject to Zoning Laws

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

36-7-32.5-17. Information to Department of State Revenue; Determination of Gross Retail Base Period Amount and Income Tax Base Period Amount

36-7-32.5-18. Tax Incremental Amount Calculations; Transfer of Tax Incremental Amounts

36-7-32.5-19. Local Innovation Development District Fund; Administration; Use of Money in a Fund; Transfers From a Fund

36-7-32.5-20. Statewide Innovation Development District Fund; Administration; Use of Money in Fund

36-7-32.5-21. Money in the Statewide Innovation Development District Fund Does Not Revert; Required Transfer

36-7-32.5-22. Annual Report; Required Information