Ind. Code § 5-1-17.5-25

Current through P.L. 171-2024

Section 5-1-17.5-25 - Allocation of amounts appropriated to the commission; expiration date of district

A resolution establishing a motorsports investment district must provide for the allocation to the motorsports investment district fund established under section 30 of this chapter of the money appropriated to the commission. The resolution must state an expiration date for the motorsports investment district, which must be the later of:

(1) the date that is thirty (30) years after the date of the adoption of the resolution; or

(2) the date on which the owner or owners of a qualified motorsports facility no longer have a financial liability to the commission.

Subject to section 24(c) of this chapter, the commission shall specify in the resolution the geographic area that is included within the motorsports investment district.

IC 5-1-17.5-25

Added by P.L. 233-2013, SEC. 5, eff. 5/10/2013.