IN HB1303

Authorizes the Gary city council to impose a municipal employment opportunity tax of up to 1% on the adjusted gross income of nonresident individuals who work in Gary but live elsewhere

Restricts tax revenue to infrastructure repair and improvements (sanitary sewers, parks, roads, bridges, drainage facilities, water systems) or public safety expenditures

Permits the city to issue bonds or enter into leases payable from the tax revenue for infrastructure or public safety capital projects, with lease terms up to 50 years

Allows the state to intercept tax distributions if Gary fails to make required debt service payments or does not comply with certain data reporting requirements

Takes effect July 1, 2012, with monthly distributions of one-twelfth of certified annual revenue to the municipal treasurer