Indiana Code Title 36. Local Government § 36-7.5-4.5-28

Sec. 28. (a) Not later than November 30 of the year following the establishment of a district under this chapter, or November 30, 2024, whichever is later, the department shall determine the following for that district:

(b) Before December 1 of each year, beginning in the year two (2) years following the establishment of the district under this chapter, the department shall determine the following for each district for the preceding calendar year:

(c) The department shall notify the budget agency and the development authority of each base period amount and annually each increment revenue amount.

(d) Before December 15 of each calendar year, the department shall determine and certify to the Indiana finance authority and the development authority the following:

(e) Beginning in the following calendar year, the state comptroller shall distribute from a district's account within the local income tax increment fund to the development authority or redevelopment commission, in the case of a district located in a cash participant county, on or before March 1, the lesser of:

(f) The development authority or redevelopment commission shall deposit the local income tax increment revenue it receives in the appropriate district account in the south shore improvement and development fund.

(g) Notwithstanding subsection (a), if the department determines that an amount determined under section 7, 8, 9, 10, 13, or 14 of this chapter is in error, the department shall redetermine any erroneous amounts and notify the budget agency and development authority of any redetermination.  If the department determines that the redetermination of an amount affects incremental tax amounts determined under subsection (b), the department shall recompute the incremental tax amounts and make any necessary adjustments to distributions or computations to reflect any redetermination.

(h) A municipality that includes more than one (1) transit development district may share its increment revenue among the transit development districts upon approval of the legislative body of the municipality.