IN HB1240

Allows redevelopment commissions outside Marion County to use tax increment finance (TIF) proceeds to pay public safety expenses or transfer revenue to counties or municipalities for such expenses

Requires the redevelopment commission to adopt a resolution determining that paying the expenses or transferring revenue will enhance economic development opportunities before using TIF funds for public safety

Applies to commissions established by counties (for expenses within the county) or municipalities (for expenses within the municipality)

Amends IC 36-7-14 to add public safety expenditures as an authorized use of property tax proceeds allocated to allocation funds

Effective date: July 1, 2013