IN HB1067

Establishes an incremental tax financing fund for each certified technology park, administered by the state treasurer with funds that do not revert to the general fund at fiscal year end

Deposits state gross retail and use taxes from businesses operating in the park and adjusted gross income tax and local income tax from employees working in the park into the fund until reaching specified incremental amounts

Limits deposits to a maximum of $5,000,000 per certified technology park during each three-year period beginning on the original designation date or most recent recertification date

For parks operated under written agreements between two or more redevelopment commissions, allows up to $5,000,000 per commission during each three-year period, with total aggregate deposits capped at $5,000,000 multiplied by the number of participating commissions

Requires monthly distribution of all amounts held in the incremental tax financing fund to the redevelopment commission by the twentieth day of each month