LEGISLATIVE SERVICES AGENCY
OFFICE OF FISCAL AND MANAGEMENT ANALYSIS
200 W. Washington, Suite 301
Indianapolis, IN 46204
(317) 233-0696
iga.in.gov
FISCAL IMPACT STATEMENT
LS 6971 NOTE PREPARED: Jan 5, 2022
BILL NUMBER: SB 373 BILL AMENDED:
SUBJECT: Lake County Convention and Entertainment District.
FIRST AUTHOR: Sen. Charbonneau BILL STATUS: As Introduced
FIRST SPONSOR:
FUNDS AFFECTED: GENERAL IMPACT: Pending
DEDICATED
FEDERAL
Summary of Legislation: The bill establishes the Lake County Convention and Entertainment District fund
(fund). It specifies permissible uses for money in the fund. It provides that the Northwest Indiana Regional
Development Authority (NWRDA) administers the fund. It requires the licensed owner of a riverboat
operating in Vigo County to pay 0.5% of the riverboat's adjusted gross receipts (AGR) in a year to the
NWRDA for deposit in the fund for 10 years.
The bill allows the Lake County fiscal body to adopt an increase in the county Innkeeper's Tax. It provides
that part of the revenue from an increase in the County Innkeeper's Tax must be deposited in the fund.
The bill authorizes the city of Gary to impose a Food and Beverage Tax on transactions occurring in a
specified area. It specifies the distribution of the revenue from the Food and Beverage Tax.
The bill allows the Lake County legislative body to adopt an ordinance establishing a convention and
entertainment district development area (tax area). It requires the legislative body to make findings when
adopting an ordinance. It requires the legislative body to submit an ordinance establishing a tax area to the
Budget Committee and Budget Agency for review and approval. It allows a tax area to receive incremental
State and Local Income Tax revenue and incremental Sales Tax revenue attributable to the tax area. It
provides that the revenue attributable to the tax area must be deposited in the fund. It limits the amount of
incremental tax revenue that may be allocated to $8 M per year. It provides that a tax area terminates not later
than 20 years after incremental tax revenues are first allocated to the tax area.
It changes the population parameters to reflect the population count determined under the 2020 decennial
census.
SB 373 1 Effective Date: July 1, 2022.
Explanation of State Expenditures: As of the above date, the fiscal analysis of this bill has not been
completed. Please contact the Office of Fiscal and Management Analysis for an update of this fiscal impact
statement.
Explanation of State Revenues:
Explanation of Local Expenditures:
Explanation of Local Revenues:
State Agencies Affected:
Local Agencies Affected:
Information Sources:
Fiscal Analyst: Randhir Jha, 317-232-9556.
SB 373 2