Indiana Code
Chapter 17.5. Motorsports Investment District
5-1-17.5-24. Resolution by Commission Establishing a District; Public Hearing; Required Findings by Commission; Territory of District

Sec. 24. (a) The commission may, after a public hearing, adopt a resolution establishing a motorsports investment district. Notice of the public hearing must be provided in accordance with IC 5-3-1.
(b) In establishing the motorsports investment district, the commission must make the following findings:
(1) There are improvements that will be undertaken in the motorsports investment district that will have a positive effect on the activities of a qualified motorsports facility.
(2) The improvements that will be undertaken in the motorsports investment district will benefit the public health and welfare and will be of public utility and benefit.
(3) The improvements that will be undertaken in the motorsports investment district will protect or increase state and local tax bases and tax revenues.
(c) A motorsports investment district consists of:
(1) the geographic area that is included within the qualified motorsports facility;
(2) adjacent property that is:
(A) related to the operation of the qualified motorsports facility; and
(B) owned by the owner of the qualified motorsports facility or a subsidiary or affiliate of the qualified motorsports facility;
(3) property on which activities related to the qualified motorsports facility occur; and
(4) other public property specified by the commission;
as determined in the resolution adopted by the commission.
As added by P.L.233-2013, SEC.5.

Structure Indiana Code

Indiana Code

Title 5. State and Local Administration

Article 1. Bonds and Other Obligations

Chapter 17.5. Motorsports Investment District

5-1-17.5-1. Legislative Findings

5-1-17.5-2. "Admissions Fees"

5-1-17.5-3. Repealed

5-1-17.5-4. "Authority"

5-1-17.5-5. "Board"

5-1-17.5-6. "Bonds"

5-1-17.5-7. "Budget Agency"

5-1-17.5-8. "Budget Committee"

5-1-17.5-9. "Commission"

5-1-17.5-10. "Department"

5-1-17.5-11. "Motorsports Investment District"

5-1-17.5-12. "Person"

5-1-17.5-13. "Political Subdivision"

5-1-17.5-14. "Qualified Motorsports Facility"

5-1-17.5-15. Commission Established; Purpose

5-1-17.5-16. Board of Directors of the Commission

5-1-17.5-17. Powers of the Commission

5-1-17.5-18. Staff Support and Expenses; Employees

5-1-17.5-19. Surety Bonds of Directors

5-1-17.5-20. Personal Liability of Directors

5-1-17.5-21. Annual Audit

5-1-17.5-22. Annual Report

5-1-17.5-23. Director's Interest in Contracts or in Sale or Lease of Property Prohibited

5-1-17.5-24. Resolution by Commission Establishing a District; Public Hearing; Required Findings by Commission; Territory of District

5-1-17.5-25. Allocation of Amounts Appropriated to the Commission; Expiration Date of District

5-1-17.5-26. Filing of Informational Tax Returns by Certain Taxpayers; Guidelines

5-1-17.5-27. Submission to the Budget Agency of Resolution Establishing District

5-1-17.5-28. Budget Committee Review; Approval by Budget Agency; Required Findings Before Resolution May Be Approved

5-1-17.5-29. Information to Be Provided to Department of State Revenue

5-1-17.5-30. Motorsports Investment District Fund; Request for Appropriations; Use of Money in the Fund

5-1-17.5-30.5. Establishment of Motorsports Facility Fund; Deposits; Reversions; Requests for Appropriations

5-1-17.5-31. Powers of Indiana Finance Authority

5-1-17.5-32. Lease of Structures and Improvements; Requirements

5-1-17.5-33. Option to Renew Lease

5-1-17.5-34. Option to Purchase Leased Property; Conveyance of Property; Requirements

5-1-17.5-35. Authorization and Execution of Leases by Commission Board of Directors

5-1-17.5-36. Commission Approval of Financed Improvements; Liens and Security Interests; Transfer of Controlling Ownership Interest in Qualified Motorsports Facility; Credits Against Obligations of Owners

5-1-17.5-37. Issuance of Bonds; Terms and Conditions; Use of Bond Proceeds

5-1-17.5-38. Authority for Certain Actions by the Commission and the Indiana Finance Authority; Bonds as Legal Investments

5-1-17.5-39. Securing of Bonds; Trust Indenture; Validity of Pledge or Assignment

5-1-17.5-40. Action to Contest Validity of Bonds

5-1-17.5-41. Equal Opportunities in Procurement and Contracting

5-1-17.5-42. Income Tax Withholding; Department of State Revenue Guidelines

5-1-17.5-43. Office of Management and Budget Review