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House Bill 1527


 

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House Bill 1527

ARCHIVE (2009)

Latest Information

 
DIGEST OF INTRODUCED BILL

Tax increment financing. Provides that in counties other than Marion County, property tax proceeds allocated under tax increment financing (TIF) may be used for: (1) improvements that are located in or serve the TIF allocation area; or (2) in the case of a redevelopment commission established by a municipality, improvements that are located within the municipality. (Current law provides that the property tax proceeds allocated under TIF may be used for improvements that are physically located in or physically connected to the TIF allocation area.) Specifies certain improvements that may be financed with property tax proceeds allocated under TIF. Provides that in counties other than Marion County, property tax proceeds allocated under a TIF housing program may be used for specified purposes: (1) within the TIF allocation area; or (2) in the case of a redevelopment commission established by a municipality, within the municipality. (Current law provides that the property tax proceeds must be used within the TIF allocation area for the specified purposes.)
Current Status:
 In Committee - first House
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