Indiana HB1164 amends tax increment financing districts to allow earlier debt retirement and retention of assessed value.
Indiana HB1164 modifies the state's tax increment financing districts by allowing redevelopment commissions to use funds for earlier debt retirement. It also permits these commissions to retain the assessed value associated with the original debt service schedule. The bill specifies conditions for the allocation of property taxes and sets deadlines for certain actions. Effective dates for these changes are July 1, 2026, and July 1, 2027.
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