Bill > HB1225

This bill establishes a new "Level 3" designation for certified technology parks, which are designated areas intended to foster technological development. Currently, certified technology parks have limits on the total amount of certain taxes that can be deposited into their dedicated financing funds. This bill states that if a Level 2 certified technology park, which is a park that has already reached its initial deposit limit and qualified for additional funding, has reached its Level 2 deposit limit, maintains its certification, and is located within a "qualified military base enhancement area" (an area designated to support military installations), it will automatically become a Level 3 park. As a Level 3 park, it can receive an additional annual deposit of income tax revenue, up to $250,000 multiplied by the number of redevelopment commissions involved in its operation. The bill also clarifies how "income tax incremental amount" is calculated, which is the difference between taxes paid by employees in the park and a base period amount, accounting for any tax credits.

Budget and Finance

https://iga.in.gov/legislative/2026/bills/house/1225/details