Bill Text: IN SR0056 | 2013 | Regular Session | Introduced
Bill Title: Study committee on the use of tax increment financing.
Spectrum: Slight Partisan Bill (Republican 6-2)
Status: (Passed) 2013-04-08 - Senator Banks added as coauthor [SR0056 Detail]
Download: Indiana-2013-SR0056-Introduced.html
A SENATE RESOLUTION urging the legislative council to create an interim study committee to study the use of tax increment financing.
March 28, 2013, read first time and referred to Committee on Tax and Fiscal Policy
April 2, 2013,
amended, reported favorably _ Do Pass.
MADAM PRESIDENT:
I offer the following resolution and move its adoption:
A SENATE RESOLUTION urging the legislative council to create
an interim study committee to study the use of tax increment financing.
Whereas, A study of the use of tax increment financing is
appropriate: Therefore,
of the General Assembly of the State of Indiana:
SECTION 1. That the legislative council is urged to create an interim
study committee to study the use of tax increment financing.
SECTION 2. That the committee, if established, should include the
study of the following issues, especially with respect to Clark County:
(1) Whether the legislative body of the unit establishing the
redevelopment commission should approve certain actions by a
redevelopment commission, such as entering into debt obligations,
making agreements with long term obligations, and purchasing real
property.
(2) Whether the approving ordinance or resolution adopted by a
redevelopment commission should be more comprehensive.
(3) Whether more oversight by the legislative body of the unit
establishing the redevelopment commission is appropriate,
including whether the redevelopment commission should present
an annual report at a public meeting of an elected body that
includes the following information by tax increment financing
district:
(A) Revenues received.
(B) Expenses paid.
(C) Fund balances.
(D) The amount and maturity date for all outstanding
obligations.
(E) The amount paid on outstanding obligations.
(F) A list of all the parcels included in each tax increment
financing district allocation area and the base assessed value and
incremental assessed value for each parcel in the list.
(4) Whether a redevelopment commission and a department of
redevelopment should be subject to the same laws, rules, and
ordinances of a general nature that apply to all other commissions
or departments of the unit.
(5) Whether more thorough or more frequent audits, or both, by the
state board of accounts is appropriate for redevelopment
commissions, departments of redevelopment, and redevelopment
authorities.
(6) Whether redevelopment commissions are complying with the
public meeting and public records laws.
(7) An evaluation of the percentage amount of incremental
assessed value that is captured by a tax increment financing district
and whether a percentage limit is appropriate.
(8) An evaluation of revenue being received by a redevelopment
commission and whether the revenue is expected to generate an
excess that should be made available to other taxing units by the
redevelopment commission and whether the legislative body of the
unit establishing the redevelopment commission should make the
determination of the amount of any excess.
SECTION 3. That the committee, if established, shall operate under
the direction of the legislative council and that the committee shall
issue such reports as directed by the council.
