IndianaHB 1576First Regular Session 124th General Assembly (2025)House

Small town opportunity initiative.

Sponsored By: Lori Goss-Reaves (Republican)

Failed

Summary

Adds provisions concerning the awarding of redevelopment tax credits by the Indiana economic development corporation (IEDC) for projects located in counties, cities, and towns that meet specified population and project criteria. Provides for the minimum and maximum credit percentages for such a project. Specifies that a credit awarded to a taxpayer for such a project is not subject to repayment and prohibits the IEDC from including a repayment provision as part of an agreement entered into for the award of the credit. Provides that the aggregate limit of applicable tax credits that the IEDC may certify for a state fiscal year excludes the first $100,000,000 in redevelopment tax credits for projects in counties, cities, and towns meeting the criteria added by the bill. Allows a redevelopment commission (commission) in a county, city, or town for which a project meeting the criteria added by the bill has received a redevelopment tax credit to establish a program to enhance investments made for those projects in the form of a 60 year allocation area to accomplish the purposes of the program. Sets forth the procedures that a commission is required to take to establish such a program. Requires the commission to annually transfer at least 12% of the aggregate allocated tax proceeds from the allocation area to school corporations located within the allocation area.

ways and means

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Lori Goss-Reaves

    Republican • House

Cosponsors

  • Craig Snow

    Republican • House

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. First reading: referred to Committee on Ways and Means

    1/21/2025House
  2. Authored by Representative Goss-Reaves

    1/21/2025House
  3. Coauthored by Representative Snow

    1/21/2025House

Bill Text

  • Introduced House Bill (H)

Related Bills

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