§ 4-10-23-1 Application
§ 4-10-23-2 “Commission”
§ 4-10-23-3 “Credit”
§ 4-10-23-4 “District”
§ 4-10-23-5 “Gross retail base period amount”
§ 4-10-23-6 “Gross retail incremental amount”
§ 4-10-23-7 “Income tax base period amount”
§ 4-10-23-8 “Income tax incremental amount”
§ 4-10-23-9 “Qualified motorsports facility”
§ 4-10-23-10 Calculation of incremental amounts; reporting
§ 4-10-23-11 Determination of incremental amounts and admissions fees for preceding calendar year
§ 4-10-23-12 Notification of amounts determined; credits against obligations

Terms Used In Indiana Code > Title 4 > Article 10 > Chapter 23 - Motorsports Investment District Credits

  • academy: refers to the Indiana academy for science, mathematics, and humanities established under this chapter. See Indiana Code 20-24.5-3-2
  • board of trustees: has the meaning set forth in IC 21-7-13-9. See Indiana Code 20-24.5-1-3
  • board of trustees: has the meaning set forth in IC 21-7-13-9. See Indiana Code 20-24.5-2-2
  • commission: refers to the Indiana motorsports commission created under Indiana Code 4-10-23-2
  • Contract: A legal written agreement that becomes binding when signed.
  • contract: refers to a contract made under this chapter between a state educational institution and a school corporation to educate part or all of the students of one (1) or more school corporations in a university administered school. See Indiana Code 20-24.5-1-4
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • credit: refers to a credit provided to the owner or owners of the qualified motorsports facility for the preceding state fiscal year under section 12 of this chapter. See Indiana Code 4-10-23-3
  • district: refers to a motorsports investment district established under Indiana Code 4-10-23-4
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • grant: refers to a grant awarded to a charter school under this chapter. See Indiana Code 20-24-14-2
  • gross retail base period amount: means the aggregate amount of state gross retail and use taxes remitted under Indiana Code 4-10-23-5
  • gross retail incremental amount: means the remainder of:

    Indiana Code 4-10-23-6

  • income tax base period amount: means the aggregate amount of state adjusted gross income taxes paid or remitted by or on behalf of a taxpayer during the calendar year of 2012 with respect to income earned or attributable to the taxpayer's activities in the district. See Indiana Code 4-10-23-7
  • income tax incremental amount: means the remainder of:

    Indiana Code 4-10-23-8

  • laboratory school: refers to a preschool, an elementary school, or a high school described in section 4 of this chapter. See Indiana Code 20-24.5-2-3
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • program: refers to the charter school facility grant program established by section 4 of this chapter. See Indiana Code 20-24-14-3
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • qualified motorsports facility: has the meaning set forth in Indiana Code 4-10-23-9
  • 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.
  • school: refers to a charter school or an innovation network school described in section 1(a)(2) of this chapter. See Indiana Code 20-24-13-2
  • school for the arts: refers to the Indiana school for the arts established under this chapter. See Indiana Code 20-24.5-4-2
  • Statute: A law passed by a legislature.
  • United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
  • university administered school: refers to a preschool, an elementary school, or a high school established by a state educational institution in a county in Indiana where the state educational institution is located to instruct children in the county in the subjects and branches of learning taught in the public schools. See Indiana Code 20-24.5-1-5
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5