Principal provisions of 2014 Legislation with Direct Impact on
Indiana Redevelopment Commissions: Senate Enrolled Act 118
(awaiting signature of Governor Pence)
1. Termination Date for "Legacy" TIF Districts
Tax allocation areas ("TIF Districts") created prior
to July 1, 1995 were not required to set a termination date. Such
areas will now have a statutorily imposed termination date of the
later of (a) June 30, 2025 or (b) the final maturity date of
obligations payable from the TIF District that are issued by July
1, 2015.
Presumably, the termination date would apply only to the portion
of the TIF District created before July 1, 1995, and not to any
expansions that occurred after June 30, 1995. Expansions that
occurred after June 30, 1995, should keep their existing
termination dates. Such termination dates are tied to when the
portion of the TIF district was created, as follows: