Indiana Code 36-7-31.5-8. Resolution; allocation of taxes to additional professional sports development area fund
(b) All of the salary, wages, bonuses, and other compensation that are:
Terms Used In Indiana Code 36-7-31.5-8
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) taxable in Indiana; and
(3) earned in the tax area;
shall be allocated to the tax area if the professional athlete is a member of a team that plays home games at a capital improvement in the tax area.
(c) The total amount of state revenue captured by the tax area may not exceed nine million five hundred thousand dollars ($9,500,000) per state fiscal year for not more than thirty-two (32) years after the first allocation of covered taxes from the tax area.
(d) The resolution establishing the tax area must designate the facilities and the sites of the facilities, for which the tax area is established and covered taxes will be used.
(e) The department may adopt rules and guidelines to govern the allocation of covered taxes to a tax area and to adopt withholding requirements in the manner authorized under IC 6-3-4-8.
As added by P.L.109-2019, SEC.16. Amended by P.L.11-2021, SEC.2.