Indiana Code 6-3.6-2-8. “Economic development project”
(1) the county, city, or town determines will:
Terms Used In Indiana Code 6-3.6-2-8
- Contract: A legal written agreement that becomes binding when signed.
- 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.
(B) attract a major new business enterprise to the county, city, or town; or
(C) retain or expand a significant business enterprise within the county, city, or town; and
(2) involves an expenditure for:
(A) the acquisition of land;
(B) interests in land;
(C) site improvements;
(D) infrastructure improvements;
(E) buildings;
(F) structures;
(G) rehabilitation, renovation, and enlargement of buildings and structures;
(H) machinery;
(I) equipment;
(J) furnishings;
(K) facilities;
(L) administrative expenses associated with a project described in this section, including contract payments to a nonprofit corporation whose primary corporate purpose is to assist government in planning and implementing economic development projects;
(M) operating expenses of a governmental entity that plans or implements economic development projects; or
(N) substance removal or remedial action in a designated county, city, or town;
or any combination of these.
As added by P.L.243-2015, SEC.10.