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IN HB1415
Bill
Status
1/16/2018
Primary Sponsor
Philip GiaQuinta
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AI Summary
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Allows redevelopment commissions to use tax increment financing revenue to improve, repair, and maintain publicly owned buildings, structures, and improvements necessary to carry out their redevelopment plans.
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Expands the definition of "redevelopment" under IC 36-7-1-18 to explicitly include improving, repairing, and maintaining land, buildings, structures, and improvements as part of redevelopment activities.
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Permits redevelopment commissions to pay expenses for local public improvements in allocation areas or serving allocation areas, regardless of whether the commission owns the public improvement.
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Applies to redevelopment commissions established under both IC 36-7-14 (general redevelopment) and IC 36-7-15.1 (city-specific redevelopment provisions).
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Effective date: July 1, 2018.
Legislative Description
Use of revenue by redevelopment commissions. Allows revenue received by a redevelopment commission from a tax increment financing allocation area to be used to improve, repair, and maintain publicly owned buildings, structures, and improvements as necessary to carry out the commission's redevelopment plan.
Last Action
First reading: referred to Committee on Government and Regulatory Reform
1/16/2018