Sec. 17. (a) If an innovation development district is designated under section 9 of this chapter, the corporation shall send to the department of state revenue:

(1) a certified copy of the designation of the innovation development district under section 9 of this chapter;

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Terms Used In Indiana Code 36-7-32.5-17

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • corporation: refers to the Indiana economic development corporation established by IC 5-28-3-1. See Indiana Code 36-7-32.5-2
  • gross retail base period amount: means the aggregate amount of state gross retail and use taxes remitted under Indiana Code 36-7-32.5-4
  • income tax base period amount: means the aggregate amount of state adjusted gross income taxes paid:

    Indiana Code 36-7-32.5-6

  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) if an agreement is entered into under section 12 of this chapter, a certified copy of the agreement; and

(3) a complete list of the employers and businesses that are paying for the services of individuals who are not employees in the innovation development district and the street names and the range of street numbers of each street in the innovation development district.

The corporation shall update the list provided under subdivision (3) before July 1 of each year.

     (b) Not later than sixty (60) days after receiving a copy of the designation of the innovation development district, the department of state revenue shall determine the gross retail base period amount and the income tax base period amount.

As added by P.L.135-2022, SEC.28. Amended by P.L.201-2023, SEC.277.

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