Ind. Code § 36-7-31-22

Current through P.L. 171-2024

Section 36-7-31-22 - Repayments to funds

The capital improvement board shall repay to the professional sports development area fund or the sports and convention facilities operating fund any amount that is distributed to the capital improvement board and used for:

(1) a purpose that is not described in section 21 of this chapter; or

(2) a facility or facility site other than the facility and facility site to which covered taxes are designated under the resolution described in section 14 or 14.2 of this chapter.

The department shall distribute the covered taxes repaid to the professional sports development area fund or the sports and convention facilities operating fund under this section proportionately to the funds and the political subdivisions that would have received the covered taxes if the covered taxes had not been allocated to the tax area under this chapter.

IC 36-7-31-22

As added by P.L. 255-1997 (ss), SEC.19. Amended by P.L. 182-2009 (ss), SEC.420.