Indiana Code 36-7-31.3-20. Repayments to fund
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Sec. 20. The designating body shall repay to the professional sports development area fund any amount that is distributed to the designating body and used for:
(2) a facility or facility site other than the facility and facility site to which covered taxes are designated under the resolution described in section 10 of this chapter.
(1) a purpose that is not described in this chapter; or
Terms Used In Indiana Code 36-7-31.3-20
- covered taxes: means the part of the following taxes attributable to the operation of a facility designated as part of a tax area under section 8 of this chapter:
Indiana Code 36-7-31.3-4
- department: refers to the department of state revenue. See Indiana Code 36-7-31.3-5
- designating body: means a:
Indiana Code 36-7-31.3-5.5
- tax area: means a geographic area established as a professional sports and convention development area under section 10 of this chapter. See Indiana Code 36-7-31.3-6
The department shall distribute the covered taxes repaid to the professional sports development area fund under this section proportionately to the funds and the political subdivisions that would have received the covered taxes if the covered taxes had not been allocated to the tax area under this chapter.
As added by P.L.255-1997(ss), SEC.20. Amended by P.L.178-2002, SEC.132.