Indiana Code 36-7.5-4.5-14. “State income tax increment revenue”
Current as of: 2023 | Check for updates
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Sec. 14. (a) As used in this chapter, “state income tax increment revenue” means the remainder of:
(A) wages and salary earned for work in the territory comprising a district; and
(1) the aggregate amount of state adjusted gross income taxes paid or remitted for a calendar year with respect to:
Terms Used In Indiana Code 36-7.5-4.5-14
- district: refers to a transit development district established by the development authority under this chapter. See Indiana Code 36-7.5-4.5-6
- 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.
- state income tax base period amount: means the aggregate amount of state adjusted gross income taxes paid or remitted by or on behalf of:
Indiana Code 36-7.5-4.5-13
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(B) income earned by residents living within the district; minus
(2) the state income tax base period amount.
(b) If an individual is a resident of one (1) district and is employed within another district during a calendar year, the state 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.193.