Sec. 12. (a) A resolution adopted under section 11 of this chapter must include a provision with respect to the allocation and distribution of covered local income taxes for the purposes and in the manner provided in this section. The allocation provision must apply to the entire tax area.

     (b) When an allocation provision is adopted under subsection (a), the commission shall notify the department by certified mail of the adoption of the provision and shall include with the notification a complete list of the following:

Terms Used In Indiana Code 36-7-27-12

  • base period amount: means the aggregate amount of covered local income taxes paid by employees employed in a tax area with respect to wages earned for work in the tax area for the state fiscal year that precedes the date on which the commission confirmed the resolution designating the tax area. See Indiana Code 36-7-27-2
  • commission: refers to the metropolitan development commission acting as the redevelopment commission of a consolidated city, subject to IC 36-3-4-23. See Indiana Code 36-7-27-3
  • covered local income taxes: means the local income tax imposed on county taxpayers under Indiana Code 36-7-27-5
  • department: refers to the department of state revenue. See Indiana Code 36-7-27-6
  • tax area: means a geographic area established by a commission under section 11 of this chapter in which a qualified economic development tax project is located. See Indiana Code 36-7-27-10
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(1) Employers in the tax area.

(2) Street names and the range of street numbers of each street in the tax area.

The commission shall update the list before July 1 of each year.

     (c) Not later than sixty (60) days after receipt from the commission of the notification under subsection (b), the department shall determine the base period amount and certify that amount to the commission.

As added by P.L.27-1992, SEC.28.

  Previous section
Next section  
 Chapter 27 Contents