Indiana Code 36-7-31-12. Review of resolution by budget committee; notice requirements; information to taxing units

Sec. 12. (a) Upon adoption of a resolution establishing a tax area under section 14 of this chapter, the commission shall submit the resolution to the budget committee for review and recommendation to the budget agency. The budget committee shall meet not later than sixty (60) days after receipt of a resolution and shall make a recommendation on the resolution to the budget agency.

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Terms Used In Indiana Code 36-7-31-12

budget agency: means the budget agency established by IC 4-12-1. See Indiana Code 36-7-31-2
budget committee: has the meaning set forth in IC 4-12-1-3. See Indiana Code 36-7-31-3
commission: refers to the metropolitan development commission acting as the redevelopment commission of a consolidated city. See Indiana Code 36-7-31-5
Property: includes personal and real property. See Indiana Code 1-1-4-5
tax area: means a geographic area established by a commission as a professional sports development area under section 14 of this chapter. See Indiana Code 36-7-31-8

(b) Upon adoption of a resolution changing the boundaries of a tax area under section 14 of this chapter, the commission shall:

(1) publish notice of the adoption and substance of the resolution in accordance with IC 5-3-1; and

(2) file the following information with each taxing unit in the county in which the district is located:

(A) A copy of the notice required by subdivision (1).

(B) A statement disclosing the impact of the district, including the following:

(i) The estimated economic benefits and costs incurred by the district, as measured by increased employment and anticipated growth of property assessed values.

(ii) The anticipated impact on tax revenues of each taxing unit.

The notice must state the general boundaries of the district.

(c) Upon completion of the actions required by subsection (b), the commission shall submit the resolution to the budget committee for review and recommendation to the budget agency. The budget committee shall meet not later than sixty (60) days after receipt of a resolution and shall make a recommendation on the resolution to the budget agency.

As added by P.L.255-1997(ss), SEC.19. Amended by P.L.199-2005, SEC.36.

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