IN HB1521

Requires projects financed after June 30, 2013, using tax increment financing (TIF) funds to be physically located within the allocation area, economic development project district, economic development tax area, or certified technology park where the tax increment is generated

Removes language allowing TIF funds to be used for projects that are "physically connected to," "serving," or "benefiting" an allocation area, restricting use to projects physically located within the designated area

Applies to redevelopment commissions, metropolitan development commissions, military base reuse authorities, and development authorities across multiple Indiana Code chapters governing redevelopment and economic development

Grandfathers projects approved by resolution before July 1, 2013, exempting them from the new physical location requirement

Affects eligible uses of allocation funds including bond payments, infrastructure construction, public improvements, reimbursements for local improvements, and certified technology park expenditures