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Ind. Code § 6-9-2.5-7.7

Convention center operating, capital improvement, and financial incentive fund

Redline — January 1, 2018 → current.View current text →
Current — January 1, 2025
As of January 1, 2018
Sec. 7.7. (a) As used in this section, "fund" refers to the convention center operating, capital improvement, and financial incentive fund established under subsection (b).
Sec. 7.7. (a) The county treasurer shall establish a convention center operating fund.
(b) The county treasurer shall establish a convention center operating, capital improvement, and financial incentive fund.
(b) Before January 1, 2020, the county treasurer shall deposit in the convention center operating fund the amount of money received under section 6 of this chapter that is generated by a two percent (2%) rate. Money in the fund must be expended for the operating expenses of a convention center.
(c) Before January 1, 2029, the county treasurer shall deposit in the fund the amount of money received under section 6 of this chapter that is generated by a two percent (2%) rate.
(c) After December 31, 2019, the county treasurer shall deposit in the convention center operating fund the amount of money received under section 6 of this chapter that is generated by a one percent (1%) rate. Money in the fund must be expended for the operating expenses of a convention center with the unused balance transferred on January 1 of each year to the tourism capital improvement fund.
(d) After December 31, 2028, the county treasurer shall deposit in the fund the amount of money received under section 6 of this chapter that is generated by a one percent (1%) rate.
(e) Money in the fund may be expended only for the following:
(1) Operating expenses of a convention center located in the county.
(2) Capital improvements to a convention center located in the county.
(3) Financial incentives to attract, promote, or encourage new business conventions, trade shows, or special events held at a convention center located in the county.
(f) A financial incentive described in subsection (e)(3) may not be distributed to a new business for at least thirty (30) days after the conclusion of a convention, trade show, or special event that is held by the new business at a convention center located in the county.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.