Indiana 2025 Regular Session

Indiana House Bill HB1683 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1
2	2	Introduced Version
3	3	HOUSE BILL No. 1683
4	4	_____
5	5	DIGEST OF INTRODUCED BILL
6	6	Citations Affected: IC 36-7-32-22.
7	7	Synopsis: Certified technology parks. Increases the maximum amount
8	8	of an additional annual deposit amount for a Level 2 certified
9	9	technology park to: (1) $500,000; or (2) $500,000 multiplied by the
10	10	number of redevelopment commissions that have entered into a written
11	11	agreement for the operation of the certified technology park; as
12	12	applicable.
13	13	Effective: July 1, 2025.
14	14	Lopez, Snow
15	15	January 21, 2025, read first time and referred to Committee on Ways and Means.
16	16	2025 IN 1683—LS 7008/DI 92 Introduced
17	17	First Regular Session of the 124th General Assembly (2025)
18	18	PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
19	19	Constitution) is being amended, the text of the existing provision will appear in this style type,
20	20	additions will appear in this style type, and deletions will appear in this style type.
21	21	Additions: Whenever a new statutory provision is being enacted (or a new constitutional
22	22	provision adopted), the text of the new provision will appear in this style type. Also, the
23	23	word NEW will appear in that style type in the introductory clause of each SECTION that adds
24	24	a new provision to the Indiana Code or the Indiana Constitution.
25	25	Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts
26	26	between statutes enacted by the 2024 Regular Session of the General Assembly.
27	27	HOUSE BILL No. 1683
28	28	A BILL FOR AN ACT to amend the Indiana Code concerning local
29	29	government.
30	30	Be it enacted by the General Assembly of the State of Indiana:
31	31	1 SECTION 1. IC 36-7-32-22, AS AMENDED BY P.L.236-2023,
32	32	2 SECTION 188, IS AMENDED TO READ AS FOLLOWS
33	33	3 [EFFECTIVE JULY 1, 2025]: Sec. 22. (a) The treasurer of state shall
34	34	4 establish an incremental tax financing fund for each certified
35	35	5 technology park designated under this chapter. The fund shall be
36	36	6 administered by the treasurer of state. Money in the fund does not
37	37	7 revert to the state general fund at the end of a state fiscal year.
38	38	8 (b) Subject to subsection (c), the following amounts shall be
39	39	9 deposited during each state fiscal year in the incremental tax financing
40	40	10 fund established for a certified technology park under subsection (a):
41	41	11 (1) The aggregate amount of state gross retail and use taxes that
42	42	12 are remitted under IC 6-2.5 by businesses operating in the
43	43	13 certified technology park, until the amount of state gross retail
44	44	14 and use taxes deposited equals the gross retail incremental
45	45	15 amount for the certified technology park.
46	46	16 (2) Except as provided in subdivision (3), the aggregate amount
47	47	17 of the following taxes paid by employees employed in the
48	48	2025 IN 1683—LS 7008/DI 92 2
49	49	1 certified technology park with respect to wages earned for work
50	50	2 in the certified technology park, until the amount deposited equals
51	51	3 the income tax incremental amount as defined in section 8.5(1) of
52	52	4 this chapter:
53	53	5 (A) The adjusted gross income tax.
54	54	6 (B) The local income tax (IC 6-3.6).
55	55	7 (3) In the case of a certified technology park to which subsection
56	56	8 (e) applies, the amount determined under subsection (e), if any.
57	57	9 (c) Except as provided in subsections (d) and (e), not more than a
58	58	10 total of five million dollars ($5,000,000) may be deposited in a
59	59	11 particular incremental tax financing fund for a certified technology
60	60	12 park over the life of the certified technology park.
61	61	13 (d) Except as provided in subsection (e), in the case of a certified
62	62	14 technology park that is operating under a written agreement entered
63	63	15 into by two (2) or more redevelopment commissions, and subject to
64	64	16 section 26(b)(4) of this chapter:
65	65	17 (1) not more than a total of five million dollars ($5,000,000) may
66	66	18 be deposited over the life of the certified technology park in the
67	67	19 incremental tax financing fund of each redevelopment
68	68	20 commission participating in the operation of the certified
69	69	21 technology park; and
70	70	22 (2) the total amount that may be deposited in all incremental tax
71	71	23 financing funds, over the life of the certified technology park, in
72	72	24 aggregate, may not exceed the result of:
73	73	25 (A) five million dollars ($5,000,000); multiplied by
74	74	26 (B) the number of redevelopment commissions that have
75	75	27 entered into a written agreement for the operation of the
76	76	28 certified technology park.
77	77	29 (e) If a certified technology park has reached the limit on deposits
78	78	30 under subsection (c) or (d) and maintains its certification under section
79	79	31 11(c) of this chapter, the certified technology park shall become a
80	80	32 Level 2 certified technology park and an additional annual deposit
81	81	33 amount shall be deposited in the incremental tax financing fund for the
82	82	34 certified technology park equal to the following:
83	83	35 (1) For a certified technology park to which subsection (c)
84	84	36 applies, the lesser of:
85	85	37 (A) the income tax incremental amount as defined in section
86	86	38 8.5(2) of this chapter; or
87	87	39 (B) two hundred fifty five hundred thousand dollars
88	88	40 ($250,000). ($500,000).
89	89	41 (2) For a certified technology park to which subsection (d)
90	90	42 applies, the lesser of:
91	91	2025 IN 1683—LS 7008/DI 92 3
92	92	1 (A) the aggregate income tax incremental amounts as defined
93	93	2 in section 8.5(2) of this chapter attributable to each
94	94	3 redevelopment commission that has entered into a written
95	95	4 agreement for the operation of the certified technology park;
96	96	5 or
97	97	6 (B) two hundred fifty five hundred thousand dollars
98	98	7 ($250,000) ($500,000) multiplied by the number of
99	99	8 redevelopment commissions that have entered into a written
100	100	9 agreement for the operation of the certified technology park.
101	101	10 (3) The following apply to deposits under this subsection:
102	102	11 (A) If a certified technology park reached its limit on deposits
103	103	12 based on a state fiscal year ending before July 1, 2020, the
104	104	13 certified technology park shall receive deposits based on the
105	105	14 income tax incremental amount as defined in section 8.5(2) of
106	106	15 this chapter for each state fiscal year ending after June 30,
107	107	16 2019.
108	108	17 (B) If a certified technology park reached its limit on deposits
109	109	18 based on a state fiscal year ending after June 30, 2020, the
110	110	19 certified technology park shall receive deposits based on the
111	111	20 income tax incremental amount as defined in section 8.5(2) of
112	112	21 this chapter for the state fiscal year in which it reached its limit
113	113	22 on deposits under subsection (c) or (d) and each state fiscal
114	114	23 year thereafter.
115	115	24 (C) If a certified technology park is permitted to receive
116	116	25 deposits under this subsection during the state fiscal year in
117	117	26 which it reached its limit on deposits under subsection (c) or
118	118	27 (d), the income tax incremental amount for purposes of
119	119	28 subdivision (1)(A) or (1)(B) for that state fiscal year shall be
120	120	29 reduced by an amount equal to:
121	121	30 (i) the deposit amount for the state fiscal year under
122	122	31 subsection (b) required to reach the limit on deposits under
123	123	32 subsection (c) or (d); minus
124	124	33 (ii) the gross retail incremental amount determined under
125	125	34 section 6.5 of this chapter;
126	126	35 but not less than zero (0).
127	127	36 (f) This subsection applies to a Level 2 certified technology park
128	128	37 designated in subsection (e). When the Indiana economic development
129	129	38 corporation recertifies a certified technology park as required under
130	130	39 section 11 of this chapter, the corporation shall make a determination
131	131	40 of whether the certified technology park shall continue to be designated
132	132	41 as a Level 2 certified technology park.
133	133	42 (g) On or before the twentieth day of each month, all amounts held
134	134	2025 IN 1683—LS 7008/DI 92 4
135	135	1 in the incremental tax financing fund established for a certified
136	136	2 technology park shall be distributed to the redevelopment commission
137	137	3 for deposit in the certified technology park fund established under
138	138	4 section 23 of this chapter.
139	139	2025 IN 1683—LS 7008/DI 92