SB 260 Summary

• Allows local government units to expend money and provide financial assistance (grants and loans) in direct support of active military bases and entities located within closed or inactive military base facilities, subject to fiscal body approval.

• Defines "active military base" as military installations used for deployment, training, maintenance, and testing activities of U.S. armed forces or Indiana National Guard components.

• Applies only to counties where total net property taxes allocated to tax increment financing areas do not exceed 19% of total net property taxes billed in the preceding calendar year.

• Requires fiscal bodies to separately approve each grant, loan, or expenditure for financial assistance, with loan terms changeable only upon subsequent fiscal body approval.

• Effective July 1, 2014, and amends Indiana Code sections relating to local government redevelopment commissions, military base reuse authorities, and military base development authorities.