Indiana HB1244 amends tax increment financing procedures, requiring 10% of excess property tax proceeds to be allocated among school corporations.

Indiana HB1244 amends the procedures for tax increment financing in redevelopment areas. It mandates that 10% of the excess property tax proceeds collected in an allocation area must be allocated among school corporations, libraries, and taxing units that provide police, fire protection, emergency medical service, or public safety services within the allocation area.

Indiana HB1244 amends tax increment financing procedures, requiring 10% of excess property tax proceeds to be allocated among school corporations.

Indiana HB1244 amends the procedures for tax increment financing in redevelopment areas. It mandates that 10% of the excess property tax proceeds collected in an allocation area must be allocated among school corporations, libraries, and taxing units that provide police, fire protection, emergency medical service, or public safety services within the allocation area.