Indiana SB0278 amends tax increment financing laws, adjusting tax assessments and allocations.

Indiana SB0278 amends various sections of the Indiana Code to adjust tax assessments and allocations in tax increment financing areas. It specifies how property taxes are to be allocated among taxing units, including the creation of special funds for certain areas. The bill also sets deadlines for reassessments and adjustments, and outlines the responsibilities of various entities in managing these funds. It includes provisions for the creation of allocation areas, the determination of base assessed values, and the handling of excess property tax proceeds.

Indiana SB0278 amends tax increment financing laws, adjusting tax assessments and allocations.

Indiana SB0278 amends various sections of the Indiana Code to adjust tax assessments and allocations in tax increment financing areas. It specifies how property taxes are to be allocated among taxing units, including the creation of special funds for certain areas. The bill also sets deadlines for reassessments and adjustments, and outlines the responsibilities of various entities in managing these funds. It includes provisions for the creation of allocation areas, the determination of base assessed values, and the handling of excess property tax proceeds.