Sec. 14. (a) This section does not apply to that part of the tax area in which a facility or complex of facilities described in section 10(b)(3) and 10(c) of this chapter is located. A reference to “tax area” in this section does not include the part of the tax area in which a facility or complex of facilities described in section 10(b)(3) and 10(c) of this chapter is located.

     (b) A tax area must be established by resolution. A resolution establishing a tax area must provide for the allocation of covered taxes attributable to a taxable event or covered taxes earned in the tax area as follows:

(1) Before January 1, 2028, to the professional sports development area fund established for the county.

(2) After December 31, 2027, to the sports and convention facilities operating fund.

The allocation provision must apply to the part of the tax area covered by this section. The resolution must provide that the tax area terminates not later than December 31, 2040.

     (c) All of the salary, wages, bonuses, and other compensation that are:

(1) paid during a taxable year to a professional athlete for professional athletic services;

(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 the majority of the professional athletic events that the team plays in Indiana in the tax area.

     (d) Except as provided by section 14.1 of this chapter, the total amount of state revenue captured by the tax area may not exceed five million dollars ($5,000,000) per year.

     (e) The resolution establishing the tax area must designate the facility and the facility site for which the tax area is established and covered taxes will be used.

     (f) The department may adopt rules under IC 4-22-2 and guidelines to govern the allocation of covered taxes to a tax area.

As added by P.L.255-1997(ss), SEC.19. Amended by P.L.214-2005, SEC.68; P.L.182-2009(ss), SEC.412; P.L.109-2019, SEC.12.