Bill > HB1615

This bill modifies the regulations surrounding certified technology parks in Indiana, specifically focusing on how tax incremental amounts can be deposited into their financing funds. The bill increases the maximum annual deposit amount for a Level 2 certified technology park to either $500,000 or $500,000 multiplied by the number of redevelopment commissions involved in the park's operation. If a Level 2 park reaches its deposit limit but maintains its certification and is located within a military base enhancement area, it can automatically become a Level 3 park. As a Level 3 park, it can receive an additional annual incremental income tax deposit of up to $250,000 multiplied by the number of participating redevelopment commissions. The changes aim to provide more financial flexibility for technology parks that have demonstrated ongoing value and meet specific geographic or operational criteria. The bill will take effect on July 1, 2025, and modifies existing statutes related to how these parks can receive and use tax incremental financing.

Budget and Finance, Military Affairs and Security

https://iga.in.gov/legislative/2025/bills/house/1615/details