Sec. 10. (a) A tax area must be established by resolution. A resolution establishing a tax area must provide for the allocation of covered taxes attributable to a taxable event or covered taxes earned in the tax area to the professional sports and convention development area fund established for the city or county. The allocation provision must apply to the entire tax area. The following apply to Allen County:

(1) The fund required by this subsection is the coliseum professional sports and convention development area fund. This fund shall be administered by the Allen County Memorial Coliseum board of trustees.

(2) The allocation each year must be as follows:

(A) The following for state fiscal years ending before July 1, 2021:

(i) The first two million six hundred thousand dollars ($2,600,000) shall be transferred to the county treasurer for deposit in the coliseum professional sports and convention development area fund.

(ii) The remaining amount shall be transferred to the treasurer of the joint county-city capital improvement board in the county.

(B) The following for state fiscal years beginning after June 30, 2021:

(i) The first two million six hundred thousand dollars ($2,600,000) shall be transferred to the county treasurer for deposit in the coliseum professional sports and convention development area fund.

(ii) After the allocation under item (i), the next four hundred thousand dollars ($400,000) shall be transferred to the joint county-city capital improvement board in the county for the Grand Wayne Center.

(iii) After the allocations under items (i) and (ii), any remaining amount shall be transferred to the joint county-city capital improvement board in the county to be split evenly between the Allen County War Memorial Coliseum and the Grand Wayne Center.

A tax area located in Allen County terminates not later than December 31, 2038. Any bonds that were issued before January 1, 2015, to finance the facility or proposed facility must have a maturity of less than twenty-five (25) years.

     (b) In addition to subsection (a), all of the salary, wages, bonuses, and other compensation that are:

(1) paid during a taxable year to a professional athlete for professional athletic services;

(2) taxable in Indiana; and

(3) earned in the tax area;

shall be allocated to the tax area if the professional athlete is a member of a team that plays the majority of the professional athletic events that the team plays in Indiana in the tax area.

     (c) Except as provided in subsection (d), for a tax area that is:

(1) not located in Allen County;

(2) not located in the city of Fishers; and

(3) not located in the city of South Bend;

the total amount of state revenue captured by the tax area may not exceed ten dollars ($10) per resident of the city or county per year for twenty (20) consecutive years.

     (d) This subsection applies to a tax area established in the city of Evansville that expired before July 1, 2021. The tax area described in this subsection is renewed beginning after June 30, 2021, for an additional twenty (20) consecutive years, and shall include:

(1) the boundaries of the tax area before its expiration; plus

(2) the additional tax area added under section 8(e) of this chapter.

The provisions in sections 11 and 12 of this chapter are not applicable to the renewal of the tax area described in this subsection.

     (e) This subsection applies to a tax area established in the city of South Bend that expired before July 1, 2021. The following apply:

(1) The tax area described in this subsection is renewed beginning after June 30, 2021, and shall include:

(A) the boundaries of the tax area before its expiration; plus

(B) the additional tax areas added under section 8(f) of this chapter.

The provisions in sections 11 and 12 of this chapter are not applicable to the renewal of the tax area described in this subsection.

(2) The maximum amount of covered taxes that may be captured in the tax area under this subsection is:

(A) before July 1, 2023, two million dollars ($2,000,000) per year; and

(B) after June 30, 2023, five million dollars ($5,000,000) per year.

(3) For state fiscal years beginning after June 30, 2023, the first two million five hundred thousand dollars ($2,500,000) captured in the tax area each year shall be transferred to the city of South Bend to be used for a capital improvement that will construct or equip a facility owned by the city and used by a professional sports franchise for practice or competitive sporting events.

(4) After the allocations under subdivision (3), any remaining amount shall be transferred to the city of South Bend to be used consistent with section 19(1) of this chapter.

The tax area renewed in the city of South Bend under this subsection terminates not later than June 30, 2044.

     (f) This subsection applies to a tax area established in the city of Fishers. The following apply:

(1) The maximum amount of covered taxes that may be captured in the tax area is two million dollars ($2,000,000) per year.

(2) The tax revenue captured in the tax area each year shall be transferred to the city of Fishers to be used for a capital improvement that will construct or equip a facility owned by the city and used by a professional sports franchise for practice or competitive sporting events.

The tax area located in the city of Fishers terminates not later than June 30, 2044.

     (g) The resolution establishing the tax area must designate the facility or proposed facility and the facility site for which the tax area is established.

     (h) The department may adopt rules under IC 4-22-2 and guidelines to govern the allocation of covered taxes to a tax area.

As added by P.L.255-1997(ss), SEC.20. Amended by P.L.176-2009, SEC.26; P.L.182-2009(ss), SEC.511; P.L.119-2012, SEC.212; P.L.137-2012, SEC.121; P.L.100-2014, SEC.3; P.L.79-2021, SEC.2; P.L.104-2022, SEC.194; P.L.183-2023, SEC.3.