Indiana Code 36-7.5-4.5-10. “Local income tax increment revenue”
Current as of: 2023 | Check for updates
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Sec. 10. (a) As used in this chapter, “local income tax increment revenue” means the remainder of:
(A) employees employed in the district with respect to wages and salary earned for work in the territory comprising the district for a particular calendar year; and
(1) the total amount of local income tax (IC 6-3.6) paid by:
Terms Used In Indiana Code 36-7.5-4.5-10
- department: refers to the department of state revenue. See Indiana Code 36-7.5-4.5-4
- district: refers to a transit development district established by the development authority under this chapter. See Indiana Code 36-7.5-4.5-6
- local income tax base period amount: means the total amount of local income tax (Indiana Code 36-7.5-4.5-9
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(B) residents living within the district; minus
(2) the local income tax base period amount;
as determined by the department.
(b) If an individual is a resident of one (1) district and is employed within another district during a calendar year, the local income tax for the individual shall be attributed to the district in which the individual resides.
As added by P.L.248-2017, SEC.10. Amended by P.L.236-2023, SEC.191.