Tax increment financing in Marion County.

Authors: Senator R Michael Young, Senator Luke Kenley, Senator Greg Taylor

Co-authors: Senator Douglas Eckerty, Senator Michael Delph, Senator Earline Rogers

Sponsors: Representative Robert Behning

Digest

Requires the Indianapolis metropolitan development commission to establish a new base assessed value beginning in 2016 for purposes of determining the incremental tax revenue for the Marion County airport economic development area. Specifies that the base assessed value must be set at the amount that will limit the incremental revenue to 150% of the debt service of the bonds denominated as series 2007 and 2007A as of January 1, 2015. (The base assessed value is used in determining revenue for other taxing units.)