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IN HB1673
Bill
Status
1/24/2019
Primary Sponsor
Philip GiaQuinta
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AI Summary
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Expands the definition of "redevelopment" to include improving, repairing, and maintaining publicly owned buildings, structures, and improvements necessary to carry out redevelopment plans, even when demolition is not required
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Authorizes redevelopment commissions to use tax increment financing (TIF) revenue to pay expenses for local public improvements in allocation areas regardless of whether the commission owns the public improvement
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Removes the previous requirement that buildings must be "acquired" by the redevelopment commission before repair and maintenance funds can be used on them
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Amends Indiana Code sections IC 36-7-1-18, IC 36-7-14-12.2, IC 36-7-14-39, and IC 36-7-15.1-7 to expand commission authority over publicly owned property
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Effective date: July 1, 2019
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
1/24/2019