IN HB1023

Allows the Virgil I. Grissom municipal airport in Lawrence County to be designated as an airport development zone by the county board of aviation commissioners.

Adds Lawrence County (population between 45,900 and 46,000) to the list of eligible counties under IC 8-22-3.5 for airport development zone designation.

Businesses in the designated airport development zone receive tax benefits equivalent to enterprise zone benefits under specified Indiana Code sections.

Businesses receiving benefits must pay an annual fee into the debt service fund and use all benefits for property, employees, and activities within the airport development zone.

Effective July 1, 2010.