LEGISLATIVE SERVICES AGENCY
OFFICE OF FISCAL AND MANAGEMENT ANALYSIS
200 W. Washington St., Suite 301
Indianapolis, IN 46204
(317) 233-0696
iga.in.gov
FISCAL IMPACT STATEMENT
LS 6724 NOTE PREPARED: Jan 4, 2024
BILL NUMBER: SB 248 BILL AMENDED:
SUBJECT: Economic Development.
FIRST AUTHOR: Sen. Garten BILL STATUS: As Introduced
FIRST SPONSOR:
FUNDS AFFECTED: GENERAL IMPACT: Local
DEDICATED
FEDERAL
Summary of Legislation: Annexation: This bill allows a city on the Ohio River that established a port
authority to annex territory that is not contiguous to the city boundaries if a railroad owned by the port
authority connects the city to the annexed territory.
Military Base Reuse Authorities: The bill also prohibits a public official from being appointed to the
executive board of a military base reuse authority after June 30, 2024, and sets certain minimum
qualifications for members.
Effective Date: July 1, 2024.
Explanation of State Expenditures:
Explanation of State Revenues:
Explanation of Local Expenditures:
Explanation of Local Revenues: Annexation: This provision will permit the city of Madison to annex,
through a voluntary annexation, territory that is not contiguous to its boundaries if that land is connected to
the city by the Madison Railroad. The railroad runs from Madison to North Vernon, and also to the Jefferson
Proving Grounds.
When property is annexed, the property’s net assessed valuation (AV) is added to the municipality’s AV
base, and the municipal tax rate is applied to that property. The municipality may also appeal to the DLGF
SB 248 1 for an increased maximum levy due to increased costs resulting from the annexation. Any change in local
revenue depends on whether the city appeals for a maximum levy increase and the amount granted.
State Agencies Affected:
Local Agencies Affected: City of Madison; Military base reuse authorities.
Information Sources: www.madisonrailroad.com.
Fiscal Analyst: Bob Sigalow, 317-232-9859.
SB 248 2