Sec. 19. (a) The district shall establish a regional economic development fund.
(b) The fund consists of:
(1) revenues received under section 16 of this chapter;
(2) property taxes allocated to the district under section 17 of this chapter; and
(3) any other funds made available to the district for the purposes of economic development within a global commerce center.
(c) Money in the fund may be used to:
(1) provide rent subsidies to businesses locating in the global commerce center; and
(2) maintain, improve, and expand economic development projects located in a global commerce center and the surrounding communities.
As added by P.L.203-2005, SEC.2.
Structure Indiana Code
Title 5. State and Local Administration
Article 28. Indiana Economic Development Corporation
Chapter 26. Global Commerce Center Pilot Program
5-28-26-0.3. Findings Relating to Certain Counties; Legislation Particular to Counties Required
5-28-26-1. "Base Assessed Value"
5-28-26-3. "High Technology Activity"
5-28-26-5. "Income Tax Base Period Amount"
5-28-26-6. "Income Tax Incremental Amount"
5-28-26-7. "Public Facilities"
5-28-26-9. "Tax Increment Revenues"
5-28-26-11. Powers of Corporation
5-28-26-12. Designation of Global Commerce Center
5-28-26-13. Addition of Spokes to Global Commerce Center
5-28-26-14. List of Employers in Global Commerce Center
5-28-26-15. Deadline for Calculation of Income Tax Incremental Amount; Taxpayer Reporting
5-28-26-16. Establishment of Incremental Tax Financing Fund; Deposits; Distributions
5-28-26-17. Allocation of Tax Increment Revenues to District
5-28-26-18. Bonding to Provide Public Facilities in Global Commerce Center
5-28-26-19. Establishment of Regional Economic Development Fund; Permitted Uses
5-28-26-20. Expiration of Global Commerce Center Designation
5-28-26-21. Corporation Discretion to Revoke Global Commerce Center Designation