Indiana § 5-28-15-5.7 - Powers of an urban enterprise association

§ 5-28-15-5.7. Powers of an urban enterprise association

Sec. 5.7. (a) Beginning after December 31, 2018, a zone U.E.A. has the following powers, in addition to other powers that are contained in this chapter:

(1) To request the waiver of a municipal ordinance or regulation as provided in section 14(c) of this chapter.

(2) To adopt guidelines for the disqualification of a zone business from eligibility for one (1) or more incentives available to zone businesses, if the zone business does not do one (1) of the following:

(A) Use all its incentives for its property or employees in the zone.

(B) Remain open and operating as a zone business for twelve (12) months of the year for which the incentive is claimed.

(3) To modify the boundary of the zone if the legislative body determines that the modification is in the best interests of the zone.

(4) To employ staff and contract for services to carry out this chapter.

(b) Each zone business that receives an incentive described in section 3 of this chapter shall assist the zone U.E.A. in an amount determined by the legislative body of the municipality in which the zone business is located. If a zone business does not assist the zone U.E.A. as required under this subsection, the legislative body of the municipality in which the zone is located may pass an ordinance disqualifying the zone business from eligibility for all incentives available to the zone businesses. If all of a zone business's incentives exceed one thousand dollars ($1,000) in a year, the legislative body of the municipality may, at the request of the zone U.E.A., impose an additional fee on a zone business to be paid to the zone U.E.A. in an amount equal to one percent (1%) of all its incentives to be used exclusively for the zone U.E.A.'s administrative expenses.

(c) If a legislative body disqualifies a zone business under subsection (b), the legislative body shall notify the department of local government finance and the department of state revenue in writing not more than thirty (30) days after the passage of the ordinance disqualifying the zone business. Disqualification of a zone business under this section is effective beginning with the taxable year in which the ordinance disqualifying the zone business is adopted.

As added by P.L.146-2018, SEC.5.