Section 36-7.5-4.5-10 - "Local income tax increment revenue"(a) As used in this chapter, "local income tax increment revenue" means the remainder of: (1) the total amount of local income tax (IC 6-3.6) paid by:(A) employees employed in the district with respect to wages and salary earned for work in the territory comprising the district for a particular calendar year; and(B) residents living within the district; minus(2) the local income tax base period amount; as determined by the department.
(b) If an individual is a resident of one (1) district and is employed within another district during a calendar year, the local income tax for the individual shall be attributed to the district in which the individual resides.Amended by P.L. 236-2023,SEC. 191, eff. 7/1/2023.Added by P.L. 248-2017,SEC. 10, eff. 7/1/2017.