YES:
MR. SPEAKER:
Your Committee on Ways and Means , to which was referred House Bill 1574 ,
has had the same under consideration and begs leave to report the same back to the House with
the recommendation that said bill be amended as follows:
Delete everything after the enacting clause and insert the following:
department or a member. This includes fines imposed by the
safety board against a member of the department, as well as the
proceeds from the sale of lost, stolen, and confiscated property
recovered or taken into possession by members of the police
department in the performance of their duties and sold at a public
sale in accordance with law.
(3) From an assessment made during the period of his
employment or for thirty-two (32) years, whichever is shorter, on
the salary of each member whom the local board has accepted and
designated as a beneficiary of the 1925 fund, an amount equal to
six percent (6%) of the salary of a first class patrolman. However,
the employer may pay all or a part of the assessment for the
member.
(4) From amounts transferred from a public safety user fee
revenue fund established under
IC 36-8-8.5
or
IC 36-8-8.7.
(b) The secretary of the local board shall prepare a roll of each of
the assessments made under subsection (a)(3) and place opposite the
name of every member of the police department the amount of the
assessment against him. The treasurer of the local board shall retain out
of the salary paid to the member each month the amount of the
assessment, other than any amount paid on behalf of the member, and
credit it to the 1925 fund. Except to the extent the assessment is paid
on behalf of the member, every person becoming a member of the
police department is liable for the payment of the assessments and is
conclusively considered to agree to pay it and have it deducted from his
salary as required in this section.
defray the expenses and obligations incurred and that will be incurred
by the local board in making the payments prescribed by this chapter
to retired members, to members who are eligible to and expect to retire
during the ensuing fiscal year, and to the dependents of deceased
members.
(b) The local board may provide in its annual budget and pay all
necessary expenses of operating the 1925 fund, including the payment
of all costs of litigation and attorney fees arising in connection with the
fund, as well as the payment of benefits and pensions. Notwithstanding
any other law, neither the municipal legislative body, the county board
of tax adjustment, nor the state board of tax commissioners may reduce
an item of expenditure.
(c) At the time when the estimates are prepared and submitted, the
local board shall also prepare and submit a certified statement showing:
(1) the name, age, and date of retirement of each retired member
and the monthly and yearly amount of the payment to which the
retired member is entitled;
(2) the name and age of each member who is eligible to and
expects to retire during the next fiscal year, the date on which the
member expects to retire, and the monthly and yearly amount of
the payment that the member will be entitled to receive; and
(3) the name and age of each dependent, the date on which the
dependent became a dependent, the date on which the dependent
will cease to be a dependent by reason of his attaining the age at
which dependents cease to be dependents, and the monthly and
yearly amount of the payment to which the dependent is entitled.
(d) The total receipts shall be deducted from the total expenditures
stated in the itemized estimate and the amount of the excess of the
estimated expenditures over the estimated receipts shall be paid by the
municipality in the same manner as other expenses of the municipality
are paid. A tax levy shall be made annually for this purpose, as
provided in subsection (e). The estimates submitted shall be prepared
and filed in the same manner and form and at the same time that
estimates of other municipal offices and departments are prepared and
filed.
(e) Except as provided in subsection (f), the municipal legislative
body shall levy an annual tax in the amount and at the rate that are
necessary to produce the revenue to pay that part of the police pensions
that the municipality is obligated to pay. All money derived from the
levy is for the exclusive use of the police pensions and benefits. The
amounts in the estimated disbursements, if found to be correct and in
conformity with the data submitted in the certified statement, are a
binding obligation upon the municipality. The legislative body shall
make a levy for them that will yield an amount equal to the estimated
disbursements, less the amount of the estimated receipts.
Notwithstanding any other law, neither the county board of tax
adjustment nor the state board of tax commissioners may reduce the
levy.
(f) Notwithstanding subsection (e), the legislative body is not
required to levy an annual tax if amounts transferred from a
public safety user fee revenue fund established under
IC 36-8-8.5
or
IC 36-8-8.7
and credited to the 1925 fund are sufficient to
produce the revenue to pay that part of the police pensions that the
municipality is obligated to pay under this chapter.
a part of the assessment for the member. The secretary of the fire
department, or the person whose duty it is to make out the
payrolls, shall place on the payroll opposite the name of every
member the amount of assessment on his salary. The unit's fiscal
officer shall deduct monthly from the salary of every member the
sum listed opposite his name, other than any amount paid on
behalf of the member, and shall credit that amount to the 1937
fund. Except to the extent the assessment is paid on behalf of the
member, every person who becomes a member of the fire
department is liable for the assessment and is conclusively
considered to agree to pay it by having it deducted from his salary
as required in this section.
(6) Appropriations that are made for the fund by the unit's fiscal
body.
(7) From amounts transferred from a public safety user fee
revenue fund established under
IC 36-8-8.5
or
IC 36-8-8.7.
and the monthly and yearly amount of the payment to which the
retired member is entitled.
(2) The name and age of each member who is eligible to and
expects to retire during the next fiscal year, the date on which the
member expects to retire, and the monthly and yearly amount of
the payment that the member will be entitled to receive.
(3) The name and the age of each dependent, the date on which
the dependent became a dependent, the date on which the
dependent will cease to be a dependent by reason of attaining the
age at which dependents cease to be dependents, and the monthly
and yearly amount of the payment to which the dependent is
entitled.
(4) The amount that would be required for the next fiscal year to
maintain level cost funding during the active fund members'
employment on an actuarial basis.
(5) The amount that would be required for the next fiscal year to
amortize accrued liability for active members, retired members,
and dependents over a period determined by the local board, but
not to exceed forty (40) years.
(d) The total receipts shall be deducted from the total expenditures
as listed in the itemized estimate. The amount of the excess of the
estimated expenditures over the estimated receipts shall be paid by the
unit in the same manner as other expenses of the unit are paid, and an
appropriation shall be made annually for that purpose. The estimates
submitted shall be prepared and filed in the same manner and form and
at the same time that estimates of other offices and departments of the
unit are prepared and filed.
(e) The estimates shall be made a part of the annual budget of the
unit. When revising the estimates, the executive, the fiscal officer, and
other fiduciary officers may not reduce the items in part 1 of the
estimated disbursements.
(f) Except as provided in subsection (g), the unit's fiscal body shall
make the appropriations necessary to pay that proportion of the budget
of the 1937 fund that the unit is obligated to pay under subsection (d).
In addition, the fiscal body may make appropriations for purposes of
subsection (c)(4), (c)(5), or both. All appropriations shall be made to
the local board for the exclusive use of the 1937 fund. The amounts
listed in part 1 of the estimated disbursements, if found to be correct
and in conformity with the data submitted in the certified statement, are
a binding obligation upon the unit. Notwithstanding any other law,
neither the county board of tax adjustment nor the state board of tax
commissioners may reduce the appropriations made to pay the amount
equal to estimated disbursements minus estimated receipts.
(g) Notwithstanding subsection (f), the amount of
appropriations required to be made by the legislative body shall be
reduced by amounts transferred from a public safety user fee fund
established under
IC 36-8-8.5
or
IC 36-8-8.7
and credited to the
1937 fund.
shall collect and credit to the 1953 fund, to be used exclusively by
the 1953 fund.
(6) From amounts transferred from a public safety user fee
revenue fund established under
IC 36-8-8.5.
dependents is entitled.
(c) After the amounts of receipts and disbursements shown in the
itemized estimate are fixed and approved by the executive, fiscal
officer, legislative body and other bodies, as provided by law for other
municipal funds, the total receipts shall be deducted from the total
expenditures stated in the itemized estimate, and the amount of the
excess shall be paid by the police special service district in the same
manner as other expenses of the district are paid. Except as provided
in subsection (d), the legislative body shall levy a tax and the money
derived from the levy shall, when collected, be credited exclusively to
the 1953 fund. The tax shall be levied in the amount and at the rate that
is necessary to produce sufficient revenue to equal the deficit.
Notwithstanding any other law, neither the county board of tax
adjustment nor the state board of tax commissioners may reduce the tax
levy.
(d) Notwithstanding subsection (c), the legislative body is not
required to levy a tax if the amounts transferred from a public
safety user fee revenue fund established under
IC 36-8-8.5
and
credited to the 1953 fund are sufficient to produce revenue equal
to the deficit.
file and available for public inspection in the offices of the city
clerk.
(d) The fees established for any users or property shall be
extended to cover any additional property that is subsequently
served, without any hearing or notice.
(e) The legislative body may change or readjust the fees in the
same manner by which they were established.
(f) Fees collected under this chapter are considered additional
revenues of the consolidated city.
Sec. 4. (a) Owners of real property located in a county
containing a consolidated city served or to be served by:
(1) the police department;
(2) the fire department; or
(3) both the police and fire departments;
and other interested persons may file a written petition objecting
to the user fees. The only grounds for an objection to the user fees
is that the fees are not just and equitable.
(b) If a written petition objecting to the user fees is filed under
this section, the following requirements must be met:
(1) The petition must contain the names and addresses of the
petitioners.
(2) The petitioners must attend the public hearing provided
under section 3 of this chapter.
(3) The written petition must be filed with the legislative body
within five (5) days after the hearing required under section
3 of this chapter.
(4) The written petition must state specifically the ground or
grounds of objection.
(c) Unless the objecting petition is abandoned, the city clerk
shall file in the office of the clerk of the circuit or superior court of
the county a copy of the user fee ordinance or ordinances together
with the petition. The court shall then set the matter for hearing at
the earliest possible date, which must be within twenty (20) days
after the filing of the petition with the court. The court shall send
notice of the hearing by certified mail to the consolidated city and
to the first signer of the petition at the address shown on the
petition. All interested parties shall appear in the court without
further notice, and the consolidated city may not conduct any
further proceedings concerning the user fees until the matters
presented by the petition are heard and determined by the court.
(d) The petitioners shall file with the petition a bond in the sum
and with the security fixed by the court. The bond must be
conditioned on the petitioners' payment of all or part of the costs
of the hearing and any damages awarded to the consolidated city
if the petition is denied, as ordered by the court.
(e) Upon the date fixed in the notice, the court shall, without a
jury, hear the evidence produced. The court shall presume the user
fees are just and equitable and confirm the decision of the
legislative body unless it determines that the findings of the
legislative body are arbitrary and capricious, in which case it may
sustain the objecting petition. The order of the court is final and
conclusive upon all parties to the proceeding and parties who
might have appeared at the hearing, subject only to the right of
direct appeal. All questions that were presented or might have been
presented are considered to have been adjudicated by the order of
the court, and no collateral attack upon the decision of the
legislative body or order of the court is permitted.
(f) If the court sustains the petition, or if it is sustained on
appeal, the legislative body shall set the user fees in accordance
with the decision of the court.
Sec. 5. (a) The collection of the user fees authorized by this
chapter may be effectuated through a periodic billing system.
(b) If user fees are not paid within the time fixed by the
legislative body in an ordinance adopted under section 3 of this
chapter, the user fees become delinquent, and a penalty of ten
percent (10%) of the amount of the user fees attaches to the user
fees. The consolidated city may recover:
(1) the amount due;
(2) the penalty; and
(3) reasonable attorney's fees;
in a civil action in the name of the consolidated city.
Sec. 6. (a) The fiscal officer shall establish a public safety user
fee revenue fund to be maintained as a separate fund of the
consolidated city. The fund consists of:
(1) revenues from a public safety user fee imposed under this
chapter; and
of delinquent fees and penalties that are enforceable under this
section. The list must include:
(1) the name or names of the owner or owners of each lot or
parcel of real property on which fees are delinquent;
(2) the description of the premises, as shown by the records of
the county auditor; and
(3) the amount of the delinquent fees and the penalty.
(c) The fiscal officer shall record a copy of each list with the
county recorder, who shall charge a fee for recording it in
accordance with
IC 36-2-7-10.
The fiscal officer shall then mail to
each property owner on the list a notice stating that a lien against
the owner's property has been recorded.
(d) Using the lists prepared under subsection (b) and recorded
under subsection (c), the fiscal officer shall certify to the county
auditor a list of the liens that remain unpaid according to a
schedule agreed upon by the county treasurer and the fiscal officer
for collection with the next cycle for property taxes. The county
and its officers and employees are not liable for any material error
in the information on the list.
(e) Using the lists prepared under subsection (b) and recorded
under subsection (c), after September 1 of the preceding calendar
year and before September 1 of the current calendar year, the
fiscal officer shall, before December 15 of each year, certify to the
county auditor a list of the liens that remain unpaid for collection
in the next May. The county and its officers and employees are not
liable for any material error in the information on the list.
(f) The fiscal officer shall release a recorded lien when the:
(1) delinquent user fees;
(2) penalties; and
(3) recording fees;
are fully paid.
(g) The county recorder shall charge a fee for releasing the lien
in accordance with
IC 36-2-7-10.
(h) On receipt of the list under subsection (d) or (e), the county
recorder shall immediately enter on the tax duplicate for the
consolidated city the delinquent fees, penalties, recording fees, and
certification fees, which are due not later than the due date of the
next installment of property taxes.
served or to be served by:
(1) the police department;
(2) the fire department; or
(3) the police and fire departments;
and other interested persons may file a written petition objecting
to the user fees. The only grounds for objection is that the fees are
not just and equitable.
(b) If a written petition objecting to the user fees is filed under
this section, the following requirements must be met:
(1) The petition must contain the names and addresses of the
petitioners.
(2) The petitioners must attend the public hearing provided
under section 3 of this chapter.
(3) The written petition must be filed with the legislative body
within five (5) days after the hearing required under section
3 of this chapter.
(4) The written petition must state specifically the ground or
grounds of objection.
(c) Unless the objecting petition is abandoned, the municipal
clerk shall file in the office of the clerk of the circuit or superior
court of the county a copy of the user fee ordinance or ordinances
together with the petition. The court shall then set the matter for
hearing at the earliest possible date, which must be within twenty
(20) days after the filing of the petition with the court. The court
shall send notice of the hearing by certified mail to the municipality
and to the first signer of the petition at the address shown on the
petition. All interested parties shall appear in the court without
further notice, and the municipality may not conduct any further
proceedings concerning the user fees until the matters presented by
the petition are heard and determined by the court.
(d) The petitioners shall file with the petition a bond in the sum
and with the security fixed by the court. The bond must be
conditioned on the petitioners' payment of all or part of the costs
of the hearing and any damages awarded to the municipality if the
petition is denied, as ordered by the court.
(e) Upon the date fixed in the notice, the court shall, without a
jury, hear the evidence produced. The court shall presume the user
fees are just and equitable and confirm the decision of the
legislative body, unless it determines that the findings of the
legislative body are arbitrary and capricious, in which case it may
sustain the objecting petition. The order of the court is final and
conclusive upon all parties to the proceeding and parties who
might have appeared at the hearing, subject only to the right of
direct appeal. All questions that were presented or might have been
presented are considered to have been adjudicated by the order of
the court, and no collateral attack upon the decision of the
legislative body or order of the court is permitted.
(f) If the court sustains the petition, or if it is sustained on
appeal, the legislative body shall set the user fees in accordance
with the decision of the court.
Sec. 5. The collection of the user fees authorized by this chapter
may be effectuated through a periodic billing system.
Sec. 6. (a) The fiscal officer shall establish a public safety user
fee fund to be maintained as a separate fund of the municipality.
The fund consists of:
(1) revenues from a public safety user fee imposed under this
chapter; and
(2) penalties imposed for late payment or nonpayment of a
user fee imposed under this chapter.
(b) The fiscal officer shall maintain separate accounts within the
fund for:
(1) user fees imposed for services provided by the police
department, if a user fee is imposed solely for services
provided by the police department; and
(2) user fees imposed for services provided by the fire
department, if a user fee is imposed solely for services
provided by the fire department.
(c) Amounts deposited in the fund may be used to pay all or part
of the costs of:
(1) administering the fund; or
(2) pension obligations under:
(A)
IC 36-8-6
;
(B)
IC 36-8-7
; or
(C) any combination of clauses (A) and (B).
(d) Amounts in the public safety user fee revenue fund do not
revert to the general fund at the end of the fiscal year.
were not incurred by the purchaser as a user, lessee, or previous
owner, and that the purchaser has not been paid by the seller for
the delinquent fees.
Sec. 10. (a) The fiscal officer may defer enforcing the collection
of unpaid fees and penalties assessed under this chapter until the
unpaid fees and penalties have been due and unpaid for at least
ninety (90) days.
(b) Except as provided in subsection (a), the fiscal officer shall
enforce the payment and collection of fees and penalties imposed
under this chapter. As often as the fiscal officer determines is
necessary in a calendar year, the fiscal officer shall prepare a list
of delinquent fees and penalties that are enforceable under this
section. The list must include:
(1) the name or names of the owner or owners of each lot or
parcel of real property on which fees are delinquent;
(2) the description of the premises, as shown by the records of
the county auditor; and
(3) the amount of the delinquent fees, and the penalty.
(c) The fiscal officer shall record a copy of each list with the
county recorder, who shall charge a fee for recording it in
accordance with
IC 36-2-7-10.
The fiscal officer shall then mail to
each property owner on the list a notice stating that a lien against
the owner's property has been recorded.
(d) Using the lists prepared under subsection (b) and recorded
under subsection (c), the fiscal officer shall certify to the county
auditor a list of the liens that remain unpaid according to a
schedule agreed upon by the county treasurer and the fiscal officer
for collection with the next cycle for property taxes. The county
and its officers and employees are not liable for any material error
in the information on the list.
(e) Using the lists prepared under subsection (b) and recorded
under subsection (c), after September 1 of the preceding calendar
year and before September 1 of the current calendar year, the
fiscal officer shall, before December 15 of each year, certify to the
county auditor a list of the liens that remain unpaid for collection
in the next May. The county and its officers and employees are not
liable for any material error in the information on the list.
(f) The fiscal officer shall release a recorded lien when the:
area that is established under the authority of any of the following
statutes and in which tax increment revenues are collected:
(1)
IC 6-1.1-39.
(2)
IC 8-22-3.5.
(3)
IC 36-7-14.
(4)
IC 36-7-14.5.
(5)
IC 36-7-15.1.
(6)
IC 36-7-30.
Sec. 2. As used in this chapter, "base assessed value" means the
base assessed value as that term is defined in
IC 6-1.1-39-5
(h),
IC 8-22-3.5-9
(a),
IC 36-7-14-39
(a),
IC 36-7-15.1-26
(a),
IC 36-7-15.1-35
(a), or
IC 36-7-30-25
(a)(2).
Sec. 3. As used in this chapter, "governing body" means the
following:
(1) For an allocation area created under
IC 6-1.1-39
, the fiscal
body of the county (as defined in
IC 36-1-2-6
).
(2) For an allocation area created under
IC 8-22-3.5
, the
commission (as defined in
IC 8-22-3.5-2
).
(3) For an allocation area created under
IC 36-7-14
, the
redevelopment commission of the unit.
(4) For an allocation area created under
IC 36-7-14.5
, the
authority created by the unit.
(5) For an allocation area created under
IC 36-7-15.1
, the
metropolitan development commission of the consolidated
city.
(6) For an allocation area created under
IC 36-7-30
, the
military base reuse authority.
Sec. 4. As used in this chapter, "obligation" means an obligation
to repay:
(1) the principal and interest on bonds;
(2) lease rentals on leases; or
(3) any other contractual obligation;
payable from tax increment revenues. The term includes a
guarantee of repayment from tax increment revenues if other
revenues are insufficient to make a payment.
Sec. 5. As used in this chapter, "property taxes" means:
(1) property taxes, as defined in
IC 6-1.1-39-5
(g),
IC 36-7-14-39
(a),
IC 36-7-15.1-26
(a), and
IC 36-7-30-25
(a)(3);
or
(2) for allocation areas created under
IC 8-22-3.5
, the taxes
assessed on taxable tangible property in the allocation area.
Sec. 6. As used in this chapter, "replacement amount" means
the property taxes that:
(1) were imposed on the assessed value of property in the
allocation area in excess of the base assessed value and
budgeted by a municipality for purposes described in
IC 36-8-8.5-8
or
IC 36-8-8.7-8
in the year before a
municipality began collecting user fees under
IC 36-8-8.5
or
IC 36-8-8.7
; and
(2) will not be collected in a particular year because of the
reduction in the municipality's maximum permissible ad
valorem property tax levy under
IC 36-8-8.5-8
or
IC 36-8-8.7-8.
Sec. 7. As used in this chapter, "tax increment revenues" means
the property taxes attributable to the assessed value of property in
excess of the base assessed value.
Sec. 8. (a) This chapter applies to an allocation area in which:
(1) the holders of obligations received a pledge before the date
on which a municipality imposed a user fee under
IC 36-8-8.5
or
IC 36-8-8.7
of tax increment revenues to repay any part of
the obligations due after the date on which the municipality
imposed a user fee under
IC 36-8-8.5
or
IC 36-8-8.7
; and
(2) the reduction of a property tax levy under
IC 36-8-8.5
or
IC 36-8-8.7
adversely affects the ability of the governing body
to repay the obligations described in subdivision (1).
(b) A governing body may use one (1) or more of the procedures
described in sections 9 through 11 of this chapter to provide
sufficient funds to repay the obligations described in subsection (a).
The amount raised each year may not exceed the replacement
amount.
Sec. 9. (a) A governing body may, after a public hearing, impose
a special assessment on the owners of property that is located in an
allocation area to repay a bond or an obligation described in
section 8 of this chapter that comes due after the date on which the
municipality imposed a user fee under
IC 36-8-8.5
or
IC 36-8-8.7.
The amount of a special assessment for a taxpayer shall be
determined by multiplying the replacement amount by a fraction,
the denominator of which is the total incremental assessed value in
the allocation area, and the numerator of which is the incremental
assessed value of the taxpayer's property in the allocation area.
(b) Before a public hearing under subsection (a) may be held,
the governing body must publish notice of the hearing under
IC 5-3-1.
The notice must state that the governing body will meet
to consider whether a special assessment should be imposed under
this chapter and whether the special assessment will help the
governing body realize the redevelopment or economic
development objectives for the allocation area or honor its
obligations related to the allocation area. The notice must also
name a date when the governing body will receive and hear
remonstrances and objections from persons affected by the special
assessment. All persons affected by the hearing, including all
taxpayers within the allocation area, shall be considered notified of
the pendency of the hearing and of subsequent acts, hearings, and
orders of the governing body by the notice. At the hearing, which
may be adjourned from time to time, the governing body shall hear
all persons affected by the proceedings and shall consider all
written remonstrances and objections that have been filed. The
only grounds for remonstrance or objection are that the special
assessment will not help the governing body realize the
redevelopment or economic development objectives for the
allocation area or honor its obligations related to the allocation
area. After considering the evidence presented, the governing body
shall take final action concerning the proposed special assessment.
The final action taken by the governing body shall be recorded and
is final and conclusive, except that an appeal may be taken in the
manner prescribed by subsection (c).
(c) A person who filed a written remonstrance with a governing
body under subsection (b) and is aggrieved by the final action
taken may, within ten (10) days after that final action, file in the
office of the clerk of the circuit or superior court a copy of the
order of the governing body and the person's remonstrance or
objection against that final action, together with a bond
conditioned to pay the costs of appeal if the appeal is determined
against the person. The only ground of remonstrance or objection
that the court may hear is whether the proposed assessment will
help achieve the redevelopment of economic development
objectives for the allocation area or honor its obligations related to
the allocation area. An appeal under this subsection shall be
promptly heard by the court without a jury. All remonstrances or
objections upon which an appeal has been taken must be
consolidated, heard, and determined within thirty (30) days after
the time of the filing of the appeal. The court shall hear evidence on
the remonstrances or objections, and may confirm the final action
of the governing body or sustain the remonstrances or objections.
The judgment of the court is final and conclusive, unless an appeal
is taken as in other civil actions.
(d) The maximum amount of a special assessment under this
section may not exceed the replacement amount.
(e) A special assessment shall be imposed and collected in the
same manner as ad valorem property taxes are imposed and
collected.
Sec. 10. (a) For purposes of this section, "additional credit"
means:
(1) for allocation areas created under
IC 6-1.1-39
, the
additional credit described in
IC 6-1.1-39-6
(a);
(2) for allocation areas created under
IC 8-22-3.5
, the
additional credit described in
IC 8-22-3.5-10
(a);
(3) for allocation areas created under
IC 36-7-14
, the
additional credit described in
IC 36-7-14-39.5
(c);
(4) for allocation areas created under
IC 36-7-14.5
, the
additional credit described in
IC 36-7-14.5-12.5
(d)(5);
(5) for allocation areas created under
IC 36-7-15.1
:
(A) the additional credit described in
IC 36-7-15.1-26.5
(e);
or
(B) the credit described in
IC 36-7-15.1-35
(d); or
(6) for allocation areas created under
IC 36-7-30
, the
additional credit described in
IC 36-7-30-25
(b)(2)(E).
(b) In order to raise the replacement amount, the governing
body of each allocation area may deny all or a part of the
additional credit.
Sec. 11. If a governing body does not impose a special
assessment under section 9 of this chapter or deny all or part of the
additional credit under section 10 of this chapter, the governing
body may, in order to provide sufficient funds to repay the
obligations described in section 8(a) of this chapter, use any tax
increment revenues that exceed:
(1) the amount pledged to pay the principal and interest of
obligations; and
(2) any amounts used to provide debt service reserve for
obligations payable solely or in part from tax increment
revenues or from other revenues.
(Reference is to HB 1574 as introduced.)
and when so amended that said bill do pass.