IN HB1330

Allows the city of Terre Haute to establish a professional sports development area containing specified facilities including the Hulman Center, three hotels, Honey Creek Mall, Indiana State University Foundation Building, and a future convention center or tourism facility.

Allocates up to $5 million per year in state sales tax revenue from operations in the tax area to Terre Haute for constructing or equipping a convention center or tourism-related facility, including financing and lease payments.

Establishes a development area oversight board consisting of 9 members (5 appointed by Terre Haute mayor, 1 by Convention and Visitors Bureau, 2 by Indiana State University president, 1 by Vigo County council) with approval authority over tax distribution and any bonds or leases pledged with tax revenue.

Requires Terre Haute to establish the tax area by July 1, 2016, and restricts tax revenue capture to $5 million annually, with reporting requirements limited to state gross retail tax attributable to designated facilities.

Extends the expiration date for professional sports development areas from December 31, 2027, to December 31, 2046.