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ARTICLE · 09 MAY 2013

Additional Annual Reporting Requirements, Authority For "Age-Restricted Housing" TIF Districts On Horizon For Indiana Redevelopment Commissions

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Indiana Governor Mike Pence is considering signature of several legislative bills passed during the 2013 session, including one that would require Indiana Redevelopment Commissions to report on their activities to city, town and county councils.

United StatesGovernment, Public Sector
Thomas A. Pitman
Thomas A. Pitman
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Indiana Governor Mike Pence is considering signature of several legislative bills passed during the 2013 session, including one that would require Indiana Redevelopment Commissions to report on their activities to city, town and county councils.

House Enrolled Act 1116, if signed, would require Redevelopment Commissions to submit a report by August 1 (beginning in 2013) to the fiscal body of the unit (Common Council in cities, Town Council in towns, and County Councils in counties). The report is required to include specified information for each tax increment financing (TIF) district for the previous year, including:

  • Revenues received;
  • Expenses paid;
  • Fund balances;
  • Amount and maturity date for all outstanding obligations;

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