SB 260

Bill Subjects

Accounts, State Board Of Schools, Funds And Budgets Tax Increment Financing (Tif)

Abstract

Requires the superintendent of each school corporation to submit the report compiled by the office of management and budget concerning the ratio of student instructional expenditures to all other expenditures to the local board of finance for the school corporation. Requires a redevelopment commission to provide notice of an adopted resolution concerning an area in need of redevelopment, an economic development area, or an allocation area, to the: (1) president of the governing body; and (2) superintendent; of each school corporation that is wholly or partly located within the allocation area established by the commission. Requires a redevelopment commission to provide information concerning each tax increment financing district to the: (1) president of the governing body; and (2) superintendent; of each school corporation that is wholly or partly located within the allocation area established by the commission. Requires an audit of a redevelopment commission or department of redevelopment to include a review of tax increment financing district allocation area funds.