Shown verbatim: the complete text as captured from the official PDF posted by the Indiana General Assembly, fetched 2026-09-25. Page and line markers are part of the official record; nothing is edited or removed. This is the current version. The official bill page.
Second Regular Session of the 124th General Assembly (2026)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
Constitution) is being amended, the text of the existing provision will appear in this style type,
additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional
provision adopted), the text of the new provision will appear in this style type. Also, the
word NEW will appear in that style type in the introductory clause of each SECTION that adds
a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts
between statutes enacted by the 2025 Regular Session of the General Assembly.
SENATE ENROLLED ACT No. 27
AN ACT to amend the Indiana Code concerning state and local
administration and to make an appropriation.
Be it enacted by the General Assembly of the State of Indiana:
SECTION 1. IC 5-1-17.1 IS ADDED TO THE INDIANA CODE
AS A NEW CHAPTER TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]:
Chapter 17.1. Northwest Indiana Stadium Authority
Sec. 0.3. The general assembly finds the following:
(1) Northwest Indiana as a region and the city face unique and
distinct challenges and opportunities related to the economic
development issues associated with the construction and
maintenance of a world-class stadium facility in the city.
(2) A unique approach is required to ensure that northwest
Indiana has sufficient revenue sources to allow it to meet these
challenges and opportunities.
(3) The powers and responsibilities provided to northwest
Indiana and to the northwest Indiana stadium authority
created by this chapter are appropriate and necessary to
carry out the public purposes of encouraging and fostering
economic development in northwest Indiana and constructing
a world-class stadium facility in the city.
(4) The relocation of a National Football League franchised
professional football team in northwest Indiana poses unique
challenges due to the need for development of a world-class
SEA 27 — Concur
2
football stadium and related infrastructure that would not be
needed apart from the needs related to the relocation of a
National Football League franchised professional football
team in the city.
(5) The relocation of a National Football League franchised
professional football team in the city is critical to successful
economic development in the city and northwest Indiana and
is a public purpose.
(6) Encouragement of economic development in northwest
Indiana will:
(A) provide significant economic activity, a substantial
portion of which results from persons residing outside
Indiana, which may attract new businesses and encourage
existing businesses to remain or expand in the city and
northwest Indiana;
(B) promote the city and northwest Indiana to residents
outside Indiana, which may attract residents outside
Indiana and new businesses to relocate to the city and
northwest Indiana area;
(C) protect and increase state and local tax revenues; and
(D) encourage overall economic growth in northwest
Indiana and in Indiana.
(7) Northwest Indiana faces unique challenges in the
development of infrastructure and other facilities necessary
to promote economic development:
(A) as a result of its need to rely on sources of revenue
other than property taxes;
(B) due to the large number of tax exempt properties
located in northwest Indiana; and
(C) because northwest Indiana is the site of numerous state
and regional nonprofit corporations.
(8) Economic development benefits the health and welfare of
the people of Indiana, is a public use and purpose for which
public money may be spent, and is of public utility and
benefit.
Sec. 1. As used in this chapter, "authority" refers to the
northwest Indiana stadium authority created by this chapter.
Sec. 2. As used in this chapter, "board" refers to the board of
directors of the authority.
Sec. 3. As used in this chapter, "bonds" means bonds, notes,
commercial paper, or other evidences of indebtedness. The term
includes obligations (as defined in IC 8-9.5-9-3) and swap
SEA 27 — Concur
3
agreements (as defined in IC 8-9.5-9-4).
Sec. 4. As used in this chapter, "capital improvement" means
the building, facilities, or improvements that the board determines
will be of general public benefit or welfare and will promote the
cultural, recreational, public, or civic well-being of the city and
northwest Indiana. This includes the land comprising the site,
equipment, heating and air conditioning facilities, sewage disposal
facilities, landscaping, walks, drives, parking facilities, and other
structures, facilities, appurtenances, materials, and supplies that
are necessary to make any building, facility, or improvement
suitable for the use for which it was constructed.
Sec. 4.2. As used in this chapter, "city" means the city of
Hammond, Indiana.
Sec. 4.5. As used in this chapter, "stadium board" refers to the
northwest Indiana stadium board created by 36-10-9.5.
Sec. 5. As used in this chapter, "state agency" means any of the
following:
(1) An authority, a board, a commission, a committee, a
department, a division, or other instrumentality of state
government.
(2) The Indiana finance authority created by IC 5-1.2-3.
Sec. 6. A northwest Indiana stadium authority is hereby created
as a separate body corporate and politic as an instrumentality of
the state to acquire, construct, equip, own, lease, and finance
facilities for lease to or for the benefit of the stadium board. The
Indiana finance authority shall provide staff support to the board
of directors appointed under section 7 of this chapter.
Sec. 7. (a) The board is composed of the following members who
must be residents of Indiana:
(1) The director of the state budget agency, or the director's
designee, who shall serve as chair of the board.
(2) One (1) member appointed by the executive of the city,
who shall serve as the vice chair of the board.
(3) The public finance director or the director's designee.
(b) If Lake County adopts an ordinance imposing a food and
beverage tax pursuant to IC 6-9-36-3 and adopts an ordinance
increasing the Lake County innkeeper's tax pursuant to
IC 6-9-2-1.5, the following two (2) members shall be added to the
board:
(1) One (1) member appointed by the county executive of
Lake County.
(2) One (1) member selected by the public finance director
SEA 27 — Concur
4
who shall be from Lake County.
(c) If Porter County adopts an ordinance imposing a food and
beverage tax pursuant to IC 6-9-36-3, the following two (2)
members shall be added to the board:
(1) One (1) member appointed by the county executive of
Porter County.
(2) One (1) member selected by the public finance director
who shall be from Porter County.
(d) A member appointed under subsection (a)(2) serves an initial
term that expires December 31, 2027, and each fourth year
thereafter. The member may be reappointed by the executive of the
city to subsequent terms. The executive of the city shall fill a
vacancy in the membership under subsection (a)(2) by appointing
a new member for the remainder of the vacated term.
(e) Members appointed under subsection (a)(3), subsection
(b)(2), and subsection (c)(2) serve an initial term that expires
December 31, 2028, and each fourth year thereafter. The members
may be reappointed to subsequent terms. The public finance
director shall fill a vacancy to the membership under subsection
(a)(3), subsection (b)(2), and subsection (c)(2) by appointing a new
member for the vacated term.
(f) A member appointed under subsection (b)(1) serves an initial
term that expires December 31, 2028, and each fourth year
thereafter. The member may be reappointed by the county
executive of Lake County to subsequent terms. The county
executive of Lake County shall fill a vacancy in the membership
under subsection (b)(1) by appointing a new member for the
remainder of the vacated term.
(g) A member appointed under subsection (c)(1) serves an initial
term that expires December 31, 2028, and each fourth year
thereafter. The member may be reappointed by the county
executive of Porter County to subsequent terms. The county
executive of Porter County shall fill a vacancy in the membership
under subsection (c)(1) by appointing a new member for the
remainder of the vacated term.
(h) A member appointed under subsection (a)(2), subsection
(a)(3), subsection (b)(1), subsection (b)(2), subsection (c)(1), and
subsection (c)(2):
(1) continues to serve after the expiration of the appointment
until a successor is appointed and qualified; and
(2) may be removed with or without cause by the appointing
authority.
SEA 27 — Concur
5
(i) Each member appointed under subsection (a)(2), subsection
(a)(3), subsection (b)(1), subsection (b)(2), subsection (c)(1), and
subsection (c)(2), before entering upon the duties of office, must
take and subscribe an oath of office under IC 5-4-1, which shall be
endorsed upon the certificate of appointment and filed with the
records of the board.
Sec. 8. (a) The board shall hold an annual organizational
meeting.
(b) The board shall elect one (1) member secretary-treasurer to
perform the duties of those offices. The secretary-treasurer shall
serve from the date of the member's election and until the
member's successor is elected and qualified.
(c) Special meetings may be called by the chair of the board.
(d) The following apply:
(1) Two (2) members constitute a quorum, if no members are
appointed to the board under section 7(b) and 7(c) of this
chapter.
(2) Three (3) members constitute a quorum, if members are
appointed to the board under one (1) but not both section 7(b)
and 7(c) of this chapter.
(3) Four (4) members constitute a quorum, if members are
appointed to the board under both section 7(b) and 7(c) of this
chapter.
The concurrence of a majority of the members is necessary to
authorize any action.
(e) Subject to IC 5-14-1.5-3.6, members of the board may
participate in a meeting of the board by electronic communication.
Sec. 9. (a) The board may adopt the bylaws and rules it
considers necessary for the proper conduct of its duties and the
safeguarding of the funds and property entrusted to its care.
(b) The board shall, without complying with IC 4-22-2, adopt
the code of ethics in executive order 05-12 for its members and
employees.
Sec. 9.5. The members, officers and employees of the authority
executing bonds, leases, obligations, or other agreements under this
chapter are not subject to personal liability or accountability by
reason of any act authorized by this chapter.
Sec. 10. The authority is organized for the following purposes:
(1) Acquiring, financing, constructing, and leasing land and
capital improvements to or for the benefit of the stadium
board.
(2) Financing and constructing additional improvements to
SEA 27 — Concur
6
capital improvements owned by the authority and leasing
them to or for the benefit of the stadium board.
(3) Acquiring land or all or a portion of one (1) or more
capital improvements from the stadium board by purchase or
lease and leasing the land or these capital improvements back
to the stadium board, with any additional improvements that
may be made to them.
(4) Acquiring all or a portion of one (1) or more capital
improvements from the stadium board by purchase or lease
to fund or refund indebtedness incurred on account of those
capital improvements to enable the stadium board to make a
savings in debt service obligations or lease rental obligations
or to obtain relief from covenants that the stadium board
considers to be unduly burdensome.
Sec. 11. (a) The authority may also:
(1) finance, improve, construct, reconstruct, renovate,
purchase, lease, acquire, and equip land and capital
improvements;
(2) lease the land or those capital improvements to the
stadium board;
(3) sue, be sued, plead, and be impleaded;
(4) condemn, appropriate, lease, rent, purchase, and hold any
real or personal property needed or considered useful in
connection with capital improvements;
(5) acquire real or personal property by gift, devise, or
bequest and hold, use, or dispose of that property for the
purposes authorized by this chapter;
(6) after giving notice, enter upon any lots or lands for the
purpose of surveying or examining them to determine the
location of a capital improvement;
(7) design, order, contract for, and construct, reconstruct, and
renovate any capital improvements or improvements thereto;
(8) employ managers, superintendents, architects, engineers,
attorneys, auditors, clerks, construction managers, and other
employees;
(9) make and enter into all contracts and agreements,
including agreements to arbitrate, that are necessary or
incidental to the performance of its duties and the execution
of its powers under this chapter;
(10) acquire in the name of the authority by the exercise of the
right of condemnation, in the manner provided in subsection
(c), public or private lands, or rights in lands, rights-of-way,
SEA 27 — Concur
7
property, rights, easements, and interests, as it considers
necessary for carrying out this chapter; and
(11) take any other action necessary to implement its purposes
as set forth in section 10 of this chapter.
(b) If the authority is unable to agree with the owners, lessees,
or occupants of any real property selected for the purposes of this
chapter, the authority may proceed to procure the condemnation
of the property under IC 32-24-1. The authority may not institute
a proceeding until the authority has adopted a resolution that:
(1) describes the real property sought to be acquired and the
purpose for which the real property is to be used;
(2) declares that the public interest and necessity require the
acquisition by the authority of the property involved; and
(3) sets out any other facts that the authority considers
necessary or pertinent.
The resolution is conclusive evidence of the public necessity of the
proposed acquisition and shall be referred to the attorney general
for action, in the name of the authority, in the circuit or superior
court of the county in which the real property is located.
Sec. 12. (a) Bonds issued under IC 36-10-9.5 or prior law may
be refunded as provided in this section.
(b) The stadium board may:
(1) lease all or a portion of land or a capital improvement or
improvements to the authority, which may be at a nominal
lease rental with a lease back to the stadium board,
conditioned upon the authority assuming bonds issued under
IC 36-10-9.5 or prior law and issuing its bonds to refund those
bonds; and
(2) sell all or a portion of land or a capital improvement or
improvements to the authority for a price sufficient to provide
for the refunding of those bonds and lease back the land or
capital improvement or improvements from the authority.
Sec. 13. (a) Before a lease may be entered into by the stadium
board under this chapter, the stadium board must find that the
lease rental provided for is fair and reasonable.
(b) A lease or sublease of land or capital improvements from the
authority, or from a state agency under section 25 of this chapter,
to the stadium board:
(1) may not have a term exceeding forty (40) years;
(2) may not require payment of lease rentals for a newly
constructed capital improvement or for improvements to an
existing capital improvement until the capital improvement or
SEA 27 — Concur
8
improvements thereto have been completed and are ready for
occupancy;
(3) may contain provisions:
(A) allowing the stadium board to continue to operate an
existing capital improvement until completion of the
improvements, reconstruction, or renovation of that
capital improvement or any other capital improvement;
and
(B) requiring payment of lease rentals for land, for an
existing capital improvement being used, reconstructed, or
renovated, or for any other existing capital improvement;
(4) may contain an option to renew the lease for the same or
shorter term on the conditions provided in the lease;
(5) must contain an option for the stadium board to purchase
the capital improvement upon the terms stated in the lease
during the term of the lease for a price equal to the amount
required to pay all indebtedness incurred on account of the
capital improvement, including indebtedness incurred for the
refunding of that indebtedness;
(6) may be entered into before acquisition or construction of
a capital improvement;
(7) may provide that the stadium board shall agree to:
(A) pay all taxes and assessments thereon;
(B) maintain insurance thereon for the benefit of the
authority;
(C) assume responsibility for utilities, repairs, alterations,
and any costs of operation; and
(D) pay a deposit or series of deposits to the authority from
any funds legally available to the stadium board before the
commencement of the lease to secure the performance of
the stadium board's the obligations under the lease;
(8) subject to IC 36-10-9.5-11, may provide that the lease
rental payments by the stadium board shall be made from:
(A) proceeds of the Hammond admissions tax imposed
under IC 6-9-78, which the stadium board or its designee
receives pursuant to that chapter;
(B) that part of the proceeds of the Lake County and
Porter County food and beverage tax imposed under
IC 6-9-36, which the stadium board or its designee receives
pursuant to that chapter;
(C) that part of the proceeds of the Hammond food and
beverage tax imposed under IC 6-9-58, which the stadium
SEA 27 — Concur
9
board or its designee receives pursuant to that chapter;
(D) that part of the proceeds of the Lake County
innkeeper's tax imposed under IC 6-9-2, which the stadium
board or its designee receives pursuant to that chapter;
(E) revenue captured under IC 36-7-31.6;
(F) revenue captured under IC 36-7-32.6;
(G) any other funds available to the stadium board; or
(H) any combination of the sources described in clauses (A)
through (G);
(9) subject to subdivision (10), may provide that the stadium
board is responsible for the operation and maintenance of the
capital improvement upon completion of construction,
including the negotiation and maintenance of agreements with
tenants or users of the capital improvement;
(10) must provide that, during the term of the lease, the
authority retains the right to approve any lease agreements
and amendments to any lease agreements between the
stadium board and any National Football League franchised
professional football team that will use the capital
improvement; and
(11) must provide that:
(A) subject to the terms of the lease, the stadium board will
retain all revenues from operation of the capital
improvement; and
(B) the authority has no responsibility to fund the ongoing
maintenance and operations of the capital improvement.
(c) The stadium board may designate the authority as its agent
to receive on behalf of the stadium board any of the revenues
identified in subsection (b)(8).
(d) All information prepared by the stadium board or a political
subdivision served by the stadium board with respect to a capital
improvement proposed to be financed under this chapter, including
a construction budget and timeline, must be provided to the budget
director.
Sec. 14. This chapter contains full and complete authority for
leases between the authority and the stadium board. No law,
procedure, proceedings, publications, notices, consents, approvals,
orders, or acts by the board or the stadium board or any other
officer, department, agency, or instrumentality of the state or any
political subdivision is required to enter into any lease, except as
prescribed in this chapter.
Sec. 15. If the lease provides for a capital improvement or
SEA 27 — Concur
10
improvements thereto to be constructed by the authority, the plans
and specifications shall be submitted to and approved by all
agencies designated by law to pass on plans and specifications for
public buildings.
Sec. 16. The authority and the stadium board may enter into
common wall (party wall) agreements or other agreements
concerning easements or licenses. These agreements shall be
recorded with the recorder of the county in which the capital
improvement is located.
Sec. 17. (a) The stadium board may lease for a nominal lease
rental, or sell to the authority, one (1) or more capital
improvements or portions thereof or land upon which a capital
improvement is located or is to be constructed.
(b) Any lease of all or a portion of a capital improvement by the
stadium board to the authority must be for a term equal to the
term of the lease of that capital improvement back to the stadium
board.
(c) The stadium board may sell property to the authority.
Sec. 18. (a) Subject to subsection (h), the authority may issue
bonds for the purpose of obtaining money to pay the cost of:
(1) acquiring real or personal property, including existing
capital improvements;
(2) constructing, improving, reconstructing, or renovating one
(1) or more capital improvements; or
(3) funding or refunding bonds issued under IC 36-10-9.5 or
prior law.
(b) The bonds are payable from the lease rentals from the lease
of the capital improvements for which the bonds were issued,
insurance proceeds, and any other funds pledged or available.
(c) The bonds shall be authorized by a resolution of the board.
(d) The terms and form of the bonds shall either be set out in the
resolution or in a form of trust indenture approved by the
resolution.
(e) The bonds shall mature within forty (40) years.
(f) The board shall sell the bonds at public or private sale upon
the terms determined by the board.
(g) All money received from any bonds issued under this
chapter shall be applied to the payment of the cost of the
acquisition or construction, or both, of capital improvements, or
the cost of refunding or refinancing outstanding bonds, for which
the bonds are issued. The cost may include:
(1) planning and development of the facility and all buildings,
SEA 27 — Concur
11
facilities, structures, and improvements related to it;
(2) acquisition of a site and clearing and preparing the site for
construction;
(3) equipment, facilities, structures, and improvements that
are necessary or desirable to make the capital improvement
suitable for use and operations;
(4) architectural, engineering, consultant, and attorney's fees;
(5) incidental expenses in connection with the issuance and
sale of bonds;
(6) reserves for principal and interest;
(7) interest during construction;
(8) financial advisory fees;
(9) insurance during construction;
(10) municipal bond insurance, debt service reserve
insurance, letters of credit, or other credit enhancement; and
(11) in the case of refunding or refinancing, payment of the
principal of, redemption premiums (if any) for, and interest
on, the bonds being refunded or refinanced.
(h) The authority may not issue bonds under this chapter unless
the authority first finds that the following conditions are met:
(1) The stadium board and the authority have entered into a
written agreement concerning the terms of the financing of
the facility. This agreement must include the following
provisions:
(A) The stadium board agrees to take any legal action that
the authority considers necessary to facilitate the financing
of the facility, including entering into agreements during
the design and construction of the facility or a sublease of
a capital improvement to any state agency that is then
leased by the authority to any state agency under section
25 of this chapter.
(B) The stadium board is prohibited from taking any other
action with respect to the financing of the facility without
the prior approval of the authority. The authority is not
bound by the terms of any agreement entered into by the
stadium board with respect to the financing of the facility
without the prior approval of the authority.
(C) As the project financier, the Indiana finance authority
(or its successor agency) and the public finance director
will be responsible for selecting all investment bankers,
bond counsel, trustees, and financial advisors.
(D) The authority agrees to consult with the staff of the
SEA 27 — Concur
12
stadium board on an as needed basis during the design and
construction of the facility, and the stadium board agrees
to make its staff available for this purpose.
(E) The authority, the city, the stadium board, and the
National Football League franchised professional football
team must commit to using their best efforts to assist and
cooperate with one another to design and construct the
facility on time and on budget.
(2) The stadium board and the National Football League
franchised professional football team have entered into a lease
for the stadium part of the facility that has been approved by
the authority and has a term of at least thirty-five (35) years.
Sec. 18.5. (a) This section applies to bids received with respect
to a capital improvement under this chapter:
(1) that is constructed by, for, or on behalf of the authority;
and
(2) for which only one (1) bid was received from a responsible
bidder.
(b) The board may attempt to negotiate a more advantageous
proposal and contract with the bidder if the board determines that
rebidding:
(1) is not practicable or advantageous; or
(2) would adversely affect the construction schedule or budget
of the project.
(c) The board shall prepare a bid file containing the following
information:
(1) A copy of all documents that are included as part of the
invitation for bids.
(2) A list of all persons to whom copies of the invitation for
bids were given, including the following information:
(A) A log of the dates and times of each meeting with the
bidder.
(B) The name of each bidder who responded and the dollar
amount of the bid.
(C) A summary of the bid receded.
(3) The basis on which the bid was accepted.
(4) Documentation of the board's negotiating process with the
bidder. The documentation must include the following:
(A) A log of the dates and times of each meeting with the
bidder.
(B) A description of the nature of all communications with
the bidder.
SEA 27 — Concur
13
(C) A copy of all written communications, including
electronic communications, with the bidder.
(5) The entire contents of the contract file except for
proprietary information included with the bid, such as trade
secrets, manufacturing processes, and financial information
that was not required to be made available for public
inspection by the terms of the invitation for bids.
Sec. 19. This chapter contains full and complete authority for
the issuance of bonds. No law, procedure, proceedings,
publications, notices, consents, approvals, orders, or acts by the
board or any other officer, department, agency, or instrumentality
of the state or of any political subdivision is required to issue any
bonds, except as prescribed in this chapter.
Sec. 20. Bonds issued under this chapter are legal investments
for private trust funds and the funds of banks, trust companies,
insurance companies, building and loan associations, credit unions,
banks of discount and deposit, savings banks, loan and trust and
safe deposit companies, rural loan and savings associations,
guaranty loan and savings associations, mortgage guaranty
companies, small loan companies, industrial loan and investment
companies, and other financial institutions organized under
Indiana law.
Sec. 21. (a) The authority may secure bonds issued under this
chapter by a trust indenture between the authority and a corporate
trustee, which may be any trust company or national or bank
having the powers of a trust company in Indiana.
(b) The trust indenture may:
(1) pledge or assign lease rentals, receipts, and income from
leased capital improvements, but may not mortgage land or
capital improvements;
(2) contain reasonable and proper provisions for protecting
and enforcing the rights and remedies of the bondholders,
including covenants setting forth the duties of the authority
and board;
(3) set forth the rights and remedies of bondholders and
trustee; and
(4) restrict the individual right of action of bondholders.
(c) Any pledge or assignment made by the authority under this
section is valid and binding from the time that the pledge or
assignment is made, against all persons whether or not they have
notice of the lien. Any trust indenture by which a pledge is created
or an assignment made need not be filed or recorded. The lien is
SEA 27 — Concur
14
perfected against third parties by filing the trust indenture in the
records of the board.
Sec. 22. If the stadium board exercises its option to purchase
leased property, it may issue its bonds as authorized by statute.
Sec. 23. All:
(1) property owned by the authority;
(2) property leased to or by the authority;
(3) revenues of the authority; and
(4) bonds issued by the authority, the interest on the bonds,
the proceeds received by a holder from the sale of bonds to
the extent of the holder's cost of acquisition, proceeds received
upon redemption before maturity, proceeds received at
maturity, and the receipt of interest in proceeds;
are exempt from taxation in Indiana for all purposes except the
financial institutions tax imposed under IC 6-5.5.
Sec. 24. Any action to contest the validity of bonds to be issued
under this chapter may not be brought after the fifteenth day
following:
(1) the receipt of bids for the bonds, if the bonds are sold at
public sale; or
(2) the publication one (1) time in a newspaper of general
circulation published in either Lake County or Porter County
of notice of the execution and delivery of the contract for the
sale of bonds;
whichever occurs first.
Sec. 24.1. The authority shall not issue bonds to finance any
capital improvement in the city unless the fiscal body of the city
imposes the tax authorized by IC 6-9-78-2 by the maximum
amount authorized by IC 6-9-78-3(a).
Sec. 25. (a) Notwithstanding any other law, any capital
improvement that may be leased by the authority to the stadium
board under this chapter may also be leased by the authority to
any state agency to accomplish the purposes of this chapter. Any
lease between the authority and a state agency under this chapter:
(1) must set forth the terms and conditions of the use and
occupancy under the lease;
(2) must set forth the amounts agreed to be paid at stated
intervals for the use and occupancy under the lease;
(3) must provide that the state agency is not obligated to
continue to pay for the use and occupancy under the lease but
is instead required to vacate the facility if it is shown that the
terms and conditions of the use and occupancy and the
SEA 27 — Concur
15
amount to be paid for the use and occupancy are unjust and
unreasonable considering the value of the services and
facilities thereby afforded;
(4) must provide that the state agency is required to vacate
the facility if funds have not been appropriated or are not
available to pay any sum agreed to be paid for use and
occupancy when due;
(5) may provide for such costs as maintenance, operations,
taxes, and insurance to be paid by the state agency;
(6) may contain an option to renew the lease;
(7) may contain an option to purchase the facility for an
amount equal to the amount required to pay the principal and
interest of indebtedness of the authority incurred on account
of the facility and expenses of the authority attributable to the
facility;
(8) may provide for payment of sums for use and occupancy
of an existing capital improvement being used by the state
agency, but may not provide for payment of sums for use and
occupancy of a new capital improvement until the
construction of the capital improvement or portion thereof
has been completed and the new capital improvement or a
portion thereof is available for use and occupancy by the state
agency; and
(9) may contain any other provisions agreeable to the
authority and the state agency.
(b) Any state agency that leases a capital improvement from the
authority under this chapter may sublease the capital improvement
to the stadium board under the terms and conditions set forth in
section 13(a) of this chapter, section 13(b)(1) through 13(b)(4) of
this chapter, section 13(b)(6) through 13(b)(8) of this chapter, and
section 13(c) of this chapter.
(c) Notwithstanding any other law, in anticipation of the
construction of any capital improvement and the lease of that
capital improvement by the authority to a state agency, the
authority may acquire an existing facility owned by the state
agency and then lease the facility to the state agency. A lease made
under this subsection shall describe the capital improvement to be
constructed and may provide for the payment of rent by the state
agency for the use of the existing facility. If such rent is to be paid
pursuant to the lease, the lease shall provide that upon completion
of the construction of the capital improvement, the capital
improvement shall be substituted for the existing facility under the
SEA 27 — Concur
16
lease. The rent required to be paid by the state agency pursuant to
the lease shall not constitute a debt of the state for purposes of the
Constitution of the State of Indiana. A lease entered into under this
subsection is subject to the same requirements for a lease entered
into under subsection (a) with respect to both the existing facility
and the capital improvement anticipated to be constructed.
(d) This chapter contains full and complete authority for leases
between the authority and a state agency and subleases between a
state agency and the stadium board. No laws, procedures,
proceedings, publications, notices, consents, approvals, orders, or
acts by the board, the governing body of any state agency or the
stadium board or any other officer, department, agency, or
instrumentality of the state or any political subdivision is required
to enter into any such lease or sublease, except as prescribed in this
chapter.
Sec. 26. In order to enable the authority to lease a capital
improvement or existing facility to a state agency under section 25
of this chapter, the public finance director or fiscal body of a
municipality (as defined in IC 5-11-1-16) in northwest Indiana may
convey, transfer, or sell, with or without consideration, real
property (including the buildings, structures, and improvements),
title to which is held in the name of the state, to the authority,
without being required to advertise or solicit bids or proposals, in
order to accomplish the governmental purposes of this chapter.
Sec. 27. If the authority enters into a lease with the stadium
board under section 13 of this chapter or a state agency under
section 25 of this chapter, which then enters into a sublease with
the stadium board under section 25(b) of this chapter, and the
rental payments owed by the stadium board to the authority under
the lease or to the state agency under the sublease are payable from
the revenues described in section 13(b)(8) of this chapter or from
the taxes authorized under IC 6-9-2, IC 6-9-36, or IC 6-9-58, the
budget director may choose the designee of the stadium board,
which shall receive and deposit the revenues derived from such
taxes. The designee shall hold the revenues on behalf of the stadium
board pursuant to an agreement between the authority and the
stadium board or between a state agency and the stadium board.
The agreement shall provide for the application of the revenues in
a manner that does not adversely affect the validity of the lease or
the sublease, as applicable.
SECTION 2. IC 5-1.2-2-62, AS ADDED BY P.L.189-2018,
SECTION 25, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
SEA 27 — Concur
17
UPON PASSAGE]: Sec. 62. "Referenced statutes" means all statutes
that grant a power to or impose a duty on the authority, including but
not limited to this article, IC 5-1-17, IC 5-1-17.1, IC 5-1-17.5, IC 5-1.3,
IC 8-9.5, IC 8-14.5, IC 8-15, IC 8-15.5, and IC 8-16.
SECTION 3. IC 5-1.2-4-4, AS AMENDED BY P.L.135-2022,
SECTION 1, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 4. (a) In addition to the powers listed in
section 1 of this chapter, the authority may:
(1) enter into leases and issue bonds under terms and conditions
determined by the authority and use the proceeds of the bonds to:
(A) acquire obligations issued by any entity authorized to
acquire, finance, construct, or lease capital improvements
under IC 5-1-17, IC 5-1-17.1, or IC 36-10-9.5;
(B) acquire any obligations issued by the northwest Indiana
regional development authority established by IC 36-7.5-2-1;
or
(C) carry out the purposes of IC 5-1-17.5 within a motorsports
investment district;
(2) at the request of the Indiana economic development
corporation established by IC 5-28-3-1, and subject to subsections
(b), (c), and (d), enter into leases and issue bonds under terms and
conditions determined by the authority payable solely from:
(A) revenues that are deposited in a local innovation
development district fund established under IC 36-7-32.5-19;
(B) revenues generated from a project under IC 36-7-32.5-19;
and
(C) appropriations from the general assembly; and
(3) perform any other functions determined by the authority to be
necessary or appropriate to carry out the purposes of this section.
(b) The proceeds of bonds issued under subsection (a)(2) may be
used to pay the costs of projects:
(1) described in IC 36-7-32.5-19; and
(2) located within or directly serving the innovation development
district in which the revenue was generated.
(c) Before the authority enters into leases or issues bonds under
subsection (a)(2), the proposed lease or issuance of bonds must be
reviewed by the budget committee.
(d) The authority may not issue more than one billion dollars
($1,000,000,000) of bonds under subsection (a)(2).
SECTION 4. IC 5-1.2-4.5-1, AS ADDED BY P.L.108-2019,
SECTION 82, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 1. (a) This section applies to a public-private
SEA 27 — Concur
18
agreement to which the authority is a party under IC 8-15.5 and that
was originally entered into before January 1, 2013.
(b) If an extension or an amendment to a public-private agreement,
which is proposed to be entered into after May 1, 2019, would require
the approval of the authority at a meeting of the authority before taking
effect, the authority shall submit the proposed extension or amendment
to the public-private agreement to the budget committee established by
IC 4-12-1-3 for its review. The budget committee may request that the
authority or the department of transportation, or both, appear at a
public meeting of the budget committee concerning the proposed
extension or amendment to the public-private agreement. The authority
may not enter into any extension or amendment to the public-private
agreement until after the budget committee has reviewed the proposed
extension or amendment.
(c) If the authority or the state receives a lump sum payment or a
series of payments totaling more than one million dollars ($1,000,000)
as a result of entering into any extension or amendment to the
public-private agreement in accordance with subsection (b), any
amount of that payment that is not obligated to cover any obligation
incurred or amounts owed by the authority or the state before the date
of the extension or amendment shall be deposited in a special payment
reserve fund to be administered by the authority.
(d) The money in the special payment reserve fund at the end of any
state fiscal year does not revert to any other fund.
(e) The authority shall invest or cause to be invested all the money
in the special payment reserve fund in one (1) or more fiduciary
accounts with a trustee that is a financial institution in accordance with
the authority's investment policy.
(f) All proceeds, including interest earned on such proceeds,
received in connection with an extension or amendment executed
after January 1, 2026, and before December 31, 2026, related to a
public-private agreement to which the authority is a party under
IC 8-15.5 and that was originally entered into before January 1,
2013, shall be deposited into the special payment reserve fund and
may be used by the authority through December 31, 2029, to pay
or reimburse costs associated with transportation projects and
infrastructure projects, or both, in the following counties:
(1) Elkhart County.
(2) LaGrange County.
(3) Lake County.
(4) LaPorte County.
(5) Porter County.
SEA 27 — Concur
19
(6) Steuben County.
(7) St. Joseph County.
Unless the use of the fund is otherwise specified by law, any
remaining proceeds, including interest earned on such proceeds,
held in the special payment reserve fund after December 31, 2029,
that were received in connection with an extension or amendment
executed after January 1, 2026, and before December 31, 2026,
related to a public-private agreement to which the authority is a
party under IC 8-15.5 and that was originally entered into before
January 1, 2013, shall be allocated and distributed to the fund into
which the payment would have otherwise been deposited under
IC 8-15.5.
(f) (g) Except as provided in subsection (f), the special payment
reserve fund may not be used for any purpose before May 1 of the year
following the year in which the payment was received. Thereafter,
unless the use of the fund is otherwise specified by law, the money in
the fund shall be allocated and distributed to the fund into which the
payment would have otherwise been deposited under IC 8-15.5.
SECTION 5. IC 5-33-6.5-9, AS ADDED BY P.L.58-2022,
SECTION 1, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2027]: Sec. 9. (a) The Indiana Sports Corporation shall
manage the money received from the fund under section 8 of this
chapter in accordance with the general laws of the state relating to the
handling of public funds.
(b) The handling and expenditure of funds coming into the
possession of the Indiana Sports Corporation is subject to audit and
supervision by the state board of accounts.
(c) The Indiana Sports Corporation shall ensure that not less than
thirty twenty percent (30%) (20%) of the money received by the
Indiana Sports Corporation each biennium is used for events that are
conducted outside of Marion County and Lake County. The Indiana
Sports Corporation may award grants to other eligible entities as set
forth in section 10 of this chapter. The requirement under this
subsection may not be met through subsection (d).
(d) The Indiana Sports Corporation shall ensure that twenty
percent (20%) of the money received by the Indiana Sports
Corporation each biennium is used for events supported by the
northwest Indiana stadium authority under IC 5-1-17.1.
(d) (e) Indiana Sports Corporation shall annually report to the
budget committee on the use of the money received from the fund.
SECTION 6. IC 6-1.1-10-38, AS AMENDED BY P.L.118-2013,
SECTION 4, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
SEA 27 — Concur
20
UPON PASSAGE]: Sec. 38. This chapter does not contain all of the
property tax exemption provisions. The property taxation exemption
provisions include, but are not limited to, the following sections:
IC 4-20.5-14-3 IC 21-35-2-19
IC 4-20.5-19 IC 21-35-3-20
IC 5-1-4-26 IC 20-47-2-21
IC 6-1.1-10-5 IC 20-47-3-15
IC 8-10-1-27 IC 23-7-7-3
IC 8-23-7-31 IC 36-1-10-18
IC 8-15-2-12 IC 36-7-14-37
IC 8-21-9-31 IC 36-7-15.1-25
IC 10-18-2-22 IC 36-7-18-25
IC 10-18-1-36 IC 36-9-4-52
IC 10-18-3-12 IC 36-9-11-10
IC 10-18-4-21 IC 36-9-11.1-11
IC 10-18-7-9 IC 36-9-13-36
IC 14-33-20-27 IC 36-9-13-37
IC 15-13-4-4 IC 36-9-30-31
IC 16-22-6-34 IC 36-10-8-18
IC 21-34-8-3 IC 36-10-9-18
IC 36-10-9.5-18
SECTION 7. IC 6-9-2-0.4 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 0.4. As used in this chapter, "authority"
refers to the northwest Indiana stadium authority created by
IC 5-1-17.1.
SECTION 8. IC 6-9-2-0.5 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 0.5. As used in this chapter, "board" means
the northwest Indiana stadium board created by IC 36-10-9.5.
SECTION 9. IC 6-9-2-0.6 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 0.6. As used in this chapter, "project costs"
means the cost of:
(1) acquisition, improvement, preparation, demolition,
disposal, construction, reconstruction, remediation,
rehabilitation, restoration, preservation, maintenance, repair,
furnishing, and equipping of public facilities, including but
not limited to any stadiums, parking facilities or training
facilities, utilities and transportation infrastructure;
(2) acquisition of land located in a county described in section
1 of this chapter; and
SEA 27 — Concur
21
(3) the reimbursement to the state of Indiana or the Indiana
finance authority established by IC 5-1.2-3 for expenditures
described in subdivisions (1) and (2).
SECTION 10. IC 6-9-2-1.5, AS ADDED BY P.L.195-2023,
SECTION 4, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 1.5. (a) After June 30, 2023, Not later than
June 30, 2027, the county fiscal body may adopt an ordinance to
increase the tax rate imposed under section 1 of this chapter by not
more than an additional five percent (5%). If the county imposes the
additional tax rate authorized by this section, the additional tax rate
terminates on July 1, 2050.
(b) If the county fiscal body adopts an ordinance under this section:
(1) it shall immediately send a certified copy of the ordinance to
the department of state revenue; and
(2) the increase applies to transactions after the last day of the
month in which the ordinance is adopted, if the county fiscal body
adopts the ordinance on or before the fifteenth day of a month. If
the county fiscal body adopts the ordinance after the fifteenth day
of a month, the tax applies to transactions after the last day of the
month following the month in which the ordinance is adopted.
The increase in the tax imposed under this section continues in effect
unless the increase is rescinded.
(c) As long as there are any current or future obligations owed
by the board to the authority or any state agency under a lease or
other agreement entered into between the board and the authority
or any state agency pursuant to IC 5-1-17.1 and until the budget
committee has reviewed a report submitted by the public finance
director (as defined in IC 5-1.2-2-60) certifying that all project
costs have been paid, the amounts received from an increase
adopted under this section shall be paid monthly to the county
treasurer. All of the amounts received by the county treasurer
from the increase adopted under this section shall be paid monthly
by the county treasurer to the treasurer of the board or its designee
upon warrants issued by the state comptroller.
(d) If there are not obligations of the board described in
subsection (c) then outstanding and there are no bonds, leases, or
other obligations then outstanding for which a pledge has been
made and the budget committee has reviewed a report submitted
by the public finance director (as defined in IC 5-1.2-2-60)
certifying that all project costs have been paid, the fiscal body may
adopt an ordinance that repeals the ordinance adopted under
subsection (a).
SEA 27 — Concur
22
(e) An ordinance adopted under subsection (d) takes effect
January 1 immediately following the date of its adoption. If the
fiscal body adopts such an ordinance, the clerk shall immediately
send a certified copy of the ordinance to the commissioner of the
department of state revenue.
(f) A tax imposed under this chapter terminates January 1 of the
year immediately following the year in which the last payment
obligation of the board is made with respect to any bond, lease, or
other obligation described in subsection (c).
(c) The amounts received from an increase adopted under this
section shall be deposited in the Lake County convention and event
center reserve fund established by IC 36-7.5-7-10 to be used for the
purposes of the Lake County convention and event center reserve fund.
(d) This section expires July 1, 2050.
SECTION 11. IC 6-9-36-1, AS AMENDED BY P.L.104-2022,
SECTION 53, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 1. This chapter applies to the following
counties:
(1) Lake County.
(2) Porter County.
(1) A county having a population of more than four hundred
thousand (400,000) and less than seven hundred thousand
(700,000).
(2) A county having a population of more than one hundred
seventy thousand (170,000) and less than one hundred
seventy-four thousand (174,000).
SECTION 12. IC 6-9-36-2.1 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 2.1. As used in this chapter, "authority"
refers to the northwest Indiana stadium authority created by
IC 5-1-17.1.
SECTION 13. IC 6-9-36-2.2 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 2.2. As used in this chapter, "board" means
the northwest Indiana stadium board created under IC 36-10-9.5.
SECTION 14. IC 6-9-36-2.3 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 2.3. As used in this chapter, "project costs"
means the cost of:
(1) acquisition, improvement, preparation, demolition,
disposal, construction, reconstruction, remediation,
rehabilitation, restoration, preservation, maintenance, repair,
SEA 27 — Concur
23
furnishing, and equipping of public facilities, including but
not limited to any stadiums, parking facilities or training
facilities, utilities, and transportation infrastructure;
(2) acquisition of land located in a county described in section
1 of this chapter; and
(3) the reimbursement to the state of Indiana or the Indiana
finance authority created by IC 5-1.2-3 for expenditures
described in subdivisions (1) and (2).
SECTION 15. IC 6-9-36-3, AS ADDED BY P.L.214-2005,
SECTION 45, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 3. (a) The fiscal body of a county described
in section 1 of this chapter may adopt an ordinance not later than
June 30, 2027, to impose an excise tax, known as the food and
beverage tax, on those transactions described in sections 4 and 5 of this
chapter that occur anywhere within the county.
(b) The following apply if the fiscal body of the county imposes a
tax under this chapter:
(1) The rate of the tax equals one percent (1%) of the gross retail
income on the transaction. For purposes of this chapter, the gross
retail income received by the retail merchant from such a
transaction does not include the amount of tax imposed on the
transaction under IC 6-2.5, IC 6-9-27, or this chapter.
(2) The fiscal body shall immediately send a certified copy of the
ordinance to the commissioner of the department of state revenue.
(3) The tax applies to transactions that occur after the last day of
the month that follows the month in which the ordinance was
adopted.
(4) The fiscal body may adopt an ordinance to rescind the tax.
The rescission of the tax takes effect after the last day of the
month that follows the month in which the ordinance to rescind
the tax is adopted. However, the fiscal body may not rescind the
tax if there are bonds outstanding or leases or other obligations for
which the tax has been pledged under IC 36-7.5.
SECTION 16. IC 6-9-36-8, AS AMENDED BY P.L.189-2018,
SECTION 63, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 8. (a) The entire amount received from the
taxes imposed by a county under this chapter shall be paid monthly by
the treasurer of state to the treasurer of the northwest Indiana regional
development authority established by IC 36-7.5-2-1.
(b) The taxes paid to the treasurer of the development authority
under this section shall be deposited in the development authority
revenue fund established under IC 36-7.5-4-1.
SEA 27 — Concur
24
(a) As long as there are any current or future obligations owed
by the board to the authority or any state agency under a lease or
other agreement entered into between the board and the authority
or any state agency pursuant to IC 5-1-17.1 and until the budget
committee has reviewed a report submitted by the public finance
director (as defined in IC 5-1.2-2-60) certifying that all project
costs have been paid, all of the amounts received from the taxes
imposed under this chapter by counties shall be paid monthly to
the department of state revenue. All of the amounts received by the
state from the taxes imposed by the counties under section 1(1) and
1(2) of this chapter shall be paid monthly by the department of
state revenue to the treasurer of the board or its designee upon
warrants issued by the state comptroller.
SECTION 17. IC 6-9-36-9 IS REPEALED [EFFECTIVE UPON
PASSAGE]. Sec. 9. (a) A tax authorized under this chapter expires on
the later of:
(1) January 1, 2045; or
(2) the date on which all bonds or lease agreements outstanding
on May 7, 2023, for which a pledge of tax revenue is made under
this chapter are completely paid.
(b) Not later than December 31, 2023, each fiscal officer of a county
that imposes a food and beverage tax under this chapter shall provide
to the state board of accounts:
(1) a list of each bond or lease agreement outstanding on May 7,
2023, for which a pledge of tax revenue is made under this
chapter; and
(2) the date on which each bond or lease agreement identified in
subdivision (1) will be completely paid.
The information received under this subsection shall be published on
the department of local government finance's interactive and searchable
website containing local government information (the Indiana gateway
for governmental units).
SECTION 18. IC 6-9-36-11 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 11. (a) If there are no obligations of the
board described in section 8(a) of this chapter then outstanding
and there are no bonds, leases, or other obligations then
outstanding for which a pledge has been made under section 10 of
this chapter and the budget committee has reviewed a report
submitted by the public finance director (as defined in
IC 5-1.2-2-60) certifying that all project costs have been paid, the
fiscal body may adopt an ordinance that repeals the ordinance
SEA 27 — Concur
25
adopted under section 3 of this chapter.
(b) An ordinance adopted under subsection (a) takes effect
January 1 immediately following the date of its adoption. If the
fiscal body adopts such an ordinance, the clerk shall immediately
send a certified copy of the ordinance to the commissioner of the
department of state revenue.
(c) A tax imposed under this chapter terminates on January 1
of the year immediately following the year in which the last
payment obligation of the board is made with respect to any bond,
lease, or other obligation described in section 8(a) of this chapter.
SECTION 19. IC 6-9-36-12 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 12. With respect to obligations of the board
described in section 8(a) of this chapter and bonds, leases, or other
obligations for which a pledge has been made under section 10 of
this chapter, the general assembly covenants with the holders of
these obligations that:
(1) this chapter will not be repealed or amended in any
manner that will adversely effect the imposition or collection
or the tax imposed under this chapter; and
(2) this chapter will not be amended in any manner that will
change the purpose for which revenues from the tax imposed
under this chapter may be used;
as long as the payment of any of those obligations is outstanding.
SECTION 20. IC 6-9-78 IS ADDED TO THE INDIANA CODE AS
A NEW CHAPTER TO READ AS FOLLOWS [EFFECTIVE UPON
PASSAGE]:
Chapter 78. Hammond Admissions Tax
Sec. 1. This chapter applies to the city of Hammond.
Sec. 2. (a) The fiscal body of the city may adopt an ordinance to
impose an excise tax, known as the city admissions tax, for the
privilege of attending any event:
(1) held in a facility located within the boundaries of the city
and that has a seating capacity of more than forty thousand
(40,000); and
(2) to which tickets are offered for sale to the public by:
(A) the box office of the facility; or
(B) an authorized agent of the facility.
(b) For purposes of this section, the sale, license, purchase, or
transfer of a contractual right to purchase season tickets for a
professional sporting event, commonly referred to as a personal
seat license, does not constitute a taxable event and is not subject
SEA 27 — Concur
26
to the city admissions tax, the state gross retail tax under
IC 6-2.5-2, or the state use tax under IC 6-2.5-3.
(c) If the fiscal body of the city adopts an ordinance under
subsection (a), it shall immediately send a certified copy of the
ordinance to the commissioner of the department of state revenue.
(d) If the fiscal body of the city adopts an ordinance under
subsection (a) prior to June 1, the city admissions tax applies to
admission charges collected after June 30 of the year in which the
ordinance is adopted. If the fiscal body of the city adopts an
ordinance under subsection (a) of this chapter on or after June 1,
the city admissions tax applies to admission charges collected after
the last day of the month in which the ordinance is adopted.
Sec. 3. (a) Except as provided in subsection (b), the city
admissions tax equals twelve percent (12%) of the price for
admission to any event described in section 2 of this chapter. If the
fiscal body of the city adopts an ordinance under this subsection:
(1) the fiscal body shall immediately send a certified copy of
the ordinance to the commissioner of the department of state
revenue; and
(2) the tax applies to transactions after the last day of the
month in which the ordinance is adopted, if the fiscal body
adopts the ordinance on or before the fifteenth day of a
month. If the fiscal body adopts the ordinance after the
fifteenth day of a month, the tax applies to transactions after
the last day of the month following the month in which the
ordinance is adopted.
(b) The amount collected from the city admissions tax imposed
shall be distributed to the northwest Indiana stadium board or its
designee. So long as there are any current or future obligations
owed by the northwest Indiana stadium board to the northwest
Indiana stadium authority created by IC 5-1-17.1 or any state
agency pursuant to a lease or other agreement entered into
between the northwest Indiana stadium board and the northwest
Indiana stadium authority or any state agency under IC 5-1-17.1,
the northwest Indiana stadium board or its designee shall deposit
the revenues received from the admissions tax imposed under
subsection (a) in a special fund, which may be used only for the
payment of the obligations described in this subsection.
Sec. 4. (a) Each person who pays a price for admission to any
event described in section 2(a) of this chapter is liable for the tax
imposed under this chapter.
(b) The person who collects the price for admission shall also
SEA 27 — Concur
27
collect the city admissions tax imposed with respect to the price for
admission. The person shall collect the tax at the same time the
price for admission is paid, regardless of whether the price paid is
for a single admission, for season tickets, or for any other
admission arrangement, not including those described in section
2(b) of this chapter. In addition, the person shall collect the tax as
an agent of the state and the city in which the facility described in
section 2 of this chapter is located.
Sec. 5. A person who collects any city admission tax under
section 4 of this chapter shall remit the tax collections to the
department of state revenue. The person shall remit those revenues
collected during a particular month before the fifteenth day of the
following month. At the time the tax revenues are remitted, the
person shall file a city admissions tax return on the form
prescribed by the department of state revenue.
Sec. 6. (a) If there are not obligations of the board described in
section 3(b) of this chapter then outstanding and there are no
bonds, leases, or other obligations then outstanding for which a
pledge has been made under section 3(b) of this chapter, the fiscal
body may adopt an ordinance that repeals the ordinance adopted
under section 2 of this chapter.
(b) An ordinance adopted under subsection (a) takes effect on
January 1 immediately following the date of its adoption. If the
fiscal body adopts such an ordinance, the clerk shall immediately
send a certified copy of the ordinance to the commissioner of the
department of state revenue.
(c) A tax imposed under this chapter terminates January 1 of
the year immediately following the year in which the last payment
obligation of the board is made with respect to any bond, lease, or
other obligation described in section 3(b) of this chapter.
SECTION 21. IC 8-15-2-5, AS AMENDED BY P.L.93-2024,
SECTION 80, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 5. The authority may do the following:
(1) Construct, maintain, repair, police, and operate toll road
projects (as defined in this chapter), public improvements, and
arterial streets and roads under section 1 of this chapter and
establish rules for the use of any such toll road project, public
improvement, or arterial street or road.
(2) Issue toll road revenue bonds of the state, payable solely from
an allocation of money from the rural transportation road fund
under IC 8-9.5-8-16 or from revenues or from the proceeds of
bonds issued under this chapter and earnings thereon, or from all
SEA 27 — Concur
28
three (3), for the purpose of paying all or any part of the cost of
any one (1) or more toll road projects or for the purpose of
refunding any other toll road revenue bonds.
(3) Establish reserves from the proceeds of the sale of bonds or
from other funds, or both, to secure the payment of the bonds.
(4) Fix and revise from time to time and charge and collect tolls
for transit over each toll road project constructed by it.
(5) Acquire in the name of the state by purchase or otherwise, on
such terms and conditions and in such manner as it may deem
proper, or by the exercise of the right of condemnation in the
manner as provided by this chapter, such public or private lands,
including public parks, playgrounds or reservations, or parts
thereof or rights therein, rights-of-way, property, rights,
easements, and interests, as it may deem necessary for carrying
out the provisions of this chapter. The authority may also:
(A) sell, transfer, and convey any such land or any interest
therein so acquired, or any portion thereof, whether by
purchase, condemnation, or otherwise, and whether such land
or interest therein had been public or private, when the same
shall no longer be needed for such purposes; and
(B) transfer and convey any such lands or interest therein as
may be necessary or convenient for the construction and
operation of any toll road project, or as otherwise required
under the provisions of this chapter to a state agency or
political subdivision.
(6) Designate the locations and establish, limit, and control such
points of ingress to and egress from each toll road project as may
be necessary or desirable in the judgment of the authority to
ensure the proper operation and maintenance of such projects, and
to prohibit entrance to such project from any point not so
designated. The authority shall not grant, for the operation of
transient lodging facilities, either ingress to or egress from any
project, including the service areas thereof on which are located
service stations and restaurants, and including toll plazas and
paved portions of the right-of-way. The authority shall cause to be
erected, at its cost, at all points of ingress and egress, large and
suitable signs facing traffic from each direction on the toll road.
Such signs shall designate the number and other designations, if
any, of all United States or state highways of ingress or egress, the
names of all Indiana municipalities with a population of five
thousand (5,000) or more within a distance of seventy-five (75)
miles on such roads of ingress or egress, and the distance in miles
SEA 27 — Concur
29
to such designated municipalities.
(7) Make and enter into all contracts and agreements necessary or
incidental to the performance of its duties and the execution of its
powers under this chapter, IC 8-9.5-8, or IC 8-15.5. When the cost
under any such contract or agreement, other than:
(A) a contract for compensation for personal services;
(B) a contract with the department under IC 8-9.5-8-7;
(C) a lease with the department under IC 8-9.5-8-8; or
(D) a contract, a lease, or another agreement under IC 8-15.5;
involves an expenditure of more than ten thousand dollars
($10,000), the authority shall make a written contract with the
lowest and best bidder after advertisement for not less than two
(2) consecutive weeks in a newspaper of general circulation in
Marion County, Indiana, and in such other publications as the
authority shall determine. Such notice shall state the general
character of the work and the general character of the materials to
be furnished, the place where plans and specifications therefor
may be examined, and the time and place of receiving bids. Each
bid shall contain the full name of every person or company
interested in it and shall be accompanied by a sufficient bond or
certified check on a solvent bank that if the bid is accepted a
contract will be entered into and the performance of its proposal
secured. The authority may reject any and all bids. A bond with
good and sufficient surety shall be required by the authority of all
contractors in an amount equal to at least fifty percent (50%) of
the contract price, conditioned upon the faithful performance of
the contract. The authority shall require a bid, performance, and
payment bond from a contractor for a project if the estimated cost
of the project is more than two hundred thousand dollars
($200,000). The authority may require a bid, performance, or
payment bond from a contractor for a project if the estimated cost
of the project is not more than two hundred thousand dollars
($200,000).
(8) Employ consulting engineers, superintendents, managers, and
such other engineers, construction and accounting experts, bond
counsel, other attorneys with the approval of the attorney general,
and other employees and agents as may be necessary in its
judgment to carry out the provisions of this chapter, and to fix
their compensation. However, all such expenses shall be payable
solely from the proceeds of toll road revenue bonds issued under
the provisions of this chapter or from revenues.
(9) Receive and accept from any federal agency, subject to
SEA 27 — Concur
30
IC 8-23-3, grants for or in aid of the construction of any toll road
project, and receive and accept aid or contributions from any
source of either money, property, labor, or other things of value,
to be held, used, and applied only for the purposes for which such
grants and contributions may be made, and repay any grant to the
authority or to the department from a federal agency if such
repayment is necessary to free the authority from restrictions
which the authority determines to be in the public interest to
remove.
(10) Establish fees, charges, terms, or conditions for any
expenditures, loans, or other form of financial participation in
projects authorized as public improvements on arterial streets and
roads under section 1 of this chapter.
(11) Accept gifts, devises, bequests, grants, loans, appropriations,
revenue sharing, other financing and assistance, and any other aid
from any source and agree to and comply with conditions attached
to the aid.
(12) Accept transfer of a state highway to the authority under
IC 8-23-7-23 and pay the cost of conversion of the state highway
to a toll road project.
(13) Enter into contracts or leases with the department under
IC 8-9.5-8-7 or IC 8-9.5-8-8 and in connection with the contracts
or leases agree with the department for coordination of the
operation and the repair and maintenance of toll road projects and
tollways which are contiguous parts of the same public road,
including joint toll collection facilities and equitable division of
tolls.
(14) Enter into public-private agreements under IC 8-15.5 and do
all acts and things necessary or proper to carry out the purposes
set forth in IC 8-15.5.
(15) Adopt rules under IC 4-22-2 in the manner provided in
IC 5-1.2-4-1(a)(2) to make changes to rules related to a toll road
project to accommodate the provisions of a public-private
agreement under IC 8-15.5. to which the authority is a party
under IC 8-15.5 and that was originally entered into before
January 1, 2010.
(16) Do all acts and things necessary or proper to carry out this
chapter.
SECTION 22. IC 8-15-2-17.2, AS AMENDED BY P.L.93-2024,
SECTION 82, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 17.2. (a) Notwithstanding IC 9, the authority
may adopt rules:
SEA 27 — Concur
31
(1) Establishing weight and size limitations for vehicles using a
toll road project, subject to the following:
(A) The operator of any vehicle exceeding any of the
maximum allowable dimensions or weights as set out by the
authority in rules and regulations shall apply to the authority
in writing, for an application for a special hauling permit,
which application must be in compliance with all the terms
thereof, and which application must be received at least seven
(7) days prior to the time of permitted entry should such permit
be granted. Such permit, if granted, will be returned to the
applicant in duplicate, properly completed and numbered, and
the driver of the vehicle shall have a copy to present to the toll
attendant on duty at the point of entry.
(B) The authority shall assess a fee for issuing a special
hauling permit. In assessing the fee, the authority shall take
into consideration the following factors:
(i) The administrative cost of issuing the permit.
(ii) The potential damage the vehicle represents to the
project.
(iii) The potential safety hazard the vehicle represents.
(2) Establishing the minimum speed that a motor vehicle may be
driven on the interstate defense network of dual highways.
(3) Designating one-way traffic lanes on a toll road project.
(4) Determining the manner of operation of motor vehicles
entering and leaving traffic lanes on a toll road project.
(5) Determining the regulation of U-turns, of crossing or entering
medians, of stopping, parking, or standing, and of passing motor
vehicles on a toll road project.
(6) Determining the establishment and enforcement of traffic
control signs and signals for motor vehicles in traffic lanes,
acceleration and deceleration lanes, toll plazas, and interchanges
on a toll road project.
(7) Determining the limitation of entry to and exit from a toll road
project to designated entrances and exits.
(8) Determining the limitation on use of a toll road project by
pedestrians and aircraft and by vehicles of a type specified in such
rules and regulations.
(9) Regulating commercial activity on a toll road project,
including but not limited to:
(A) the offering or display of goods or services for sale;
(B) the posting, distributing, or displaying of signs,
advertisements, or other printed or written material; and
SEA 27 — Concur
32
(C) the operation of a mobile or stationary public address
system.
(10) Establishing enforcement procedures and making
assessments for the failure to pay required tolls. For any
public-private agreement to which the authority is a party
under IC 8-15.5 and that was originally entered into before
January 1, 2010, the The authority may adopt rules under this
subdivision under IC 4-22-2. in the manner provided in
IC 5-1.2-4-1(a)(2).
(b) A person who violates a rule adopted under this section commits
a Class C infraction. However, a violation of a weight limitation
established by the authority under this section is:
(1) a Class B infraction if the total of all excesses of weight under
those limitations is more than five thousand (5,000) pounds but
not more than ten thousand (10,000) pounds; and
(2) a Class A infraction if the total of all excesses of weight under
those limitations is more than ten thousand (10,000) pounds.
(c) It is a defense to the charge of violating a weight limitation
established by the authority under this section that the total of all
excesses of weight under those limitations is less than one thousand
(1,000) pounds.
(d) The court may suspend the registration of a vehicle that violated:
(1) a size or weight limitation established by the authority under
this section; or
(2) a rule adopted under subsection (a)(10);
for a period of not more than ninety (90) days.
(e) Upon the conviction of a person for a violation of a weight or
size limitation established by the authority under this section, the court
may recommend suspension of the person's current chauffeur's license
only if the violation was committed knowingly.
SECTION 23. IC 8-15.5-7-8, AS AMENDED BY P.L.93-2024,
SECTION 83, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 8. (a) For any public-private agreement to
which the authority is a party under IC 8-15.5 and that was
originally entered into before January 1, 2010, the The authority
may fix user fees under this chapter by rule under IC 4-22-2. in the
manner provided IC 5-1.2-4-1(a)(2).
(b) Any action to contest the validity of user fees fixed under this
chapter may not be brought after the fifteenth day following the
effective date of a rule fixing the user fees adopted under subsection
(a).
SECTION 24. IC 8-23-2-5.7 IS ADDED TO THE INDIANA CODE
SEA 27 — Concur
33
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 5.7. (a) Before the department may proceed
with contract letting for any project for which the whole project or
any part of the project is estimated to cost at least two hundred
fifty million dollars ($250,000,000) in any single county the project
must be reviewed by the budget committee.
(b) Not later than December 31, 2026, and not later than
December 31 of each calendar year thereafter, the department
shall annually present to the budget committee an update on the
department's long range comprehensive transportation plans.
SECTION 25. IC 34-30-2.1-20.5 IS ADDED TO THE INDIANA
CODE AS A NEW SECTION TO READ AS FOLLOWS
[EFFECTIVE UPON PASSAGE]: Sec. 20.5. IC 5-1-17.1-9.5
(Concerning members, officers, and employees of the northwest
Indiana stadium authority).
SECTION 26. IC 36-7-31.6 IS ADDED TO THE INDIANA CODE
AS A NEW CHAPTER TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]:
Chapter 31.6. Northwest Indiana Professional Sports
Development Area
Sec. 1. The following definitions apply throughout this chapter:
(1) "Authority" means the northwest Indiana stadium
authority created by IC 5-1-17.1.
(2) "Board" refers to the northwest Indiana stadium board
created by IC 36-10-9.5.
(3) "Bonds" means bonds, notes, or other evidence of
indebtedness.
(4) "Budget agency" means the budget agency created by
IC 4-12-1.
(5) "Budget committee" means the budget committee
established by IC 4-12-1-3.
(6) "Capital improvement" means any facility or complex of
facilities established as part of the professional sports
development area under section 3 of this chapter.
(7) "City" refers to the city of Hammond, Indiana.
(8) "Commission" means a redevelopment commission of the
city.
(9) "Covered taxes" means the following:
(A) The state gross retail tax imposed under IC 6-2.5-2-1
or use tax imposed under IC 6-2.5-3-2.
(B) An adjusted gross income tax imposed under
IC 6-3-2-1 on an individual.
SEA 27 — Concur
34
(C) The local income tax imposed under IC 6-3.6.
(D) A food and beverage tax imposed under IC 6-9-36 or
IC 6-9-58.
(10) "Department" refers to the department of state revenue.
(11) "Facility" means all or any part of one (1) or more
buildings, structures, or improvements constituting a capital
improvement. The term refers to and includes a capital
improvement.
(12) "Tax area" means the geographic area established as the
professional sports development area under section 3 of this
chapter.
(13) "Taxpayer" means a person that is liable for a covered
tax.
Sec. 2. (a) The general assembly finds the following:
(1) Northwest Indiana, including the city, faces unique and
distinct challenges and opportunities related to economic
development issues associated with the construction of
facilities that would host professional sporting and
entertainment events in the city.
(2) A unique approach is required to ensure that the facilities
can be maintained to allow northwest Indiana to meet these
challenges and opportunities.
(3) The powers and responsibilities provided to the city, the
authority, and the board by this chapter are appropriate and
necessary to carry out the public purposes of encouraging and
fostering economic development in northwest Indiana and
constructing facilities that would host professional sporting
and entertainment events in the city.
(4) Encouragement of economic development in Indiana will:
(A) generate significant economic activity, which may
attract new businesses and encourage existing businesses
to remain or expand in northwest Indiana;
(B) promote northwest Indiana to residents outside
Indiana, which may attract residents outside Indiana and
new businesses to relocate to northwest Indiana;
(C) protect and increase state and local tax revenues; and
(D) encourage overall economic growth in northwest
Indiana and in Indiana.
(b) Northwest Indiana faces unique challenges in the
development of infrastructure and other facilities necessary to
promote economic development:
(1) as a result of its need to rely on sources of revenue other
SEA 27 — Concur
35
than property taxes;
(2) due to the large number of tax exempt properties located
in northwest Indiana; and
(3) because northwest Indiana is the site of numerous state
and regional nonprofit corporations.
(c) Economic development benefits the health and welfare of the
people of Indiana, is a public use and purpose for which public
money may be spent, and is of public utility and benefit.
Sec. 3. (a) A commission may establish a professional sports
development area in the city designated as the "northwest Indiana
professional sports development area".
(b) The commission may establish as part of the professional
sports development area any facility or complex of facilities that is:
(1) used to hold a professional sporting event, including a
stadium, and which in addition, may be used to hold other
entertainment events, including any publicly owned parking,
including any public parking garages, plaza, or infrastructure
that is constructed or renovated in connection with the
construction of the facility used to hold a professional
sporting event;
(2) used in the training of a team engaged in professional
sporting events; and
(3) used in whole or in part to manage and operate the
professional team that would participate in the facility used to
hold a professional sporting event.
The tax area shall include any facility described in this subsection
and any parcel of land on which the facility is located. An area may
contain noncontiguous tracts of land within the city.
(c) Only the facilities described in subsection (b) that are
included within the professional sports development area may be
financed with debt issued by the board, the authority, or a political
subdivision.
Sec. 4. (a) A tax area must be initially established not later than
July 1, 2027, according to the procedures set forth for the
establishment of an economic development area under IC 36-7-14.
A tax area may be changed or the terms governing the tax area
revised in the same manner as the establishment of the initial tax
area.
(b) In establishing or changing the terms of the tax area or
revising the terms governing the tax area, the commission must
make the following findings required for the establishment of
economic development areas:
SEA 27 — Concur
36
(1) That a project to be undertaken or that has been
undertaken in the tax area is for a facility.
(2) That the project to be undertaken or that has been
undertaken in the tax area will benefit the public health and
welfare and will be of public utility and benefit.
(3) That the project to be undertaken or that has been
undertaken in the tax area will protect or increase state and
local tax bases and tax revenues.
(c) The tax area established by the commission under this
chapter is a special taxing district authorized by the general
assembly to enable the authority and the board to provide special
benefits to taxpayers in the tax area by promoting economic
development that is of public use and benefit.
Sec. 5. (a) Upon adoption of a resolution changing the
boundaries of a tax area under section 7 of this chapter, the
commission shall:
(1) publish notice of the adoption and substance of the
resolution in accordance with IC 5-3-1; and
(2) file the following information with each taxing unit in the
county in which the tax area is located:
(A) A copy of the notice required by subdivision (1).
(B) A statement disclosing the impact of the tax area,
including the following:
(i) The estimated economic benefits and costs incurred
by the tax, as measured by increased employment and
anticipated growth of property assessed values.
(ii) The anticipated impact on tax revenues of each
taxing unit.
The notice must state the general boundaries of the tax area.
(b) Upon adoption of a resolution establishing a tax area under
section 7 of this chapter or upon completion of the actions required
under subsection (a), the commission shall submit the resolution to
the budget committee for review.
Sec. 6. (a) The budget agency must approve the resolution
before the covered taxes may be allocated under section 7 of this
chapter.
(b) When considering a resolution, the budget committee and
the budget agency must make the following findings:
(1) The project specified in the resolution is economically
sound and will benefit the people of Indiana by protecting or
increasing state and local tax bases and tax revenues for at
least the duration of the tax area established under this
SEA 27 — Concur
37
chapter.
(2) The political subdivisions affected by the project specified
in the resolution have committed significant resources toward
completion of the improvement.
(c) In addition to the requirement under subsections (a) and (b),
covered taxes may not be allocated unless:
(1) the commission has established a tax area under section 7
of this chapter;
(2) the budget committee has reviewed the resolution;
(3) the common council of the city has adopted an ordinance
imposing an admissions tax under IC 6-9-78;
(4) the board has adopted a resolution to apply revenue
collected in the tax area and transferred to the board from
imposition of:
(A) an admissions tax under IC 6-9-78; and
(B) a food and beverage tax under IC 6-9-36 or IC 6-9-58;
(5) at least fifty percent (50%) of the cost of the project to
construct the facility that will be used to host professional
sporting events shall be provided by private investment; and
(6) the Indiana finance authority has reviewed information
provided by the board, the commission, or the city, that
demonstrates that the proposed project related to the
proposed tax area will protect or increase the state tax base
and revenues.
(d) Revenue described in subsection (c)(4) may be used in the
manner described in section 15 of this chapter.
(e) For purposes of subsection (c)(5), the term "fifty percent
(50%) of the cost" means either:
(1) fifty percent (50%) of the total capital construction cost of
the facility; or
(2) a commitment to pay fifty percent (50%) of the annual
debt service or lease rental payments payable for the facility
until the financing obligation for the facility is paid in full.
(f) An entity that:
(1) collects food and beverage tax under IC 6-9-36 of
IC 6-9-58 at one (1) or more properties in the tax area; and
(2) also has one (1) or more properties in the county that are
outside the tax area;
must file separate returns for the properties in the tax area at
which the entity collects food and beverage tax under IC 6-9-36 or
IC 6-9-58.
Sec. 7. (a) A tax area must be established by resolution. A
SEA 27 — Concur
38
resolution establishing a tax area may provide for the allocation of
covered taxes attributable to a taxable event or covered taxes
earned in the tax area to the professional sports development area
fund established for the city. The allocation provision must apply
to the part of the tax area covered by this section. The resolution
must provide that the tax area terminates not later than forty (40)
years from the date the first obligation payable from covered taxes
is incurred by the board. Covered taxes may not be collected in the
tax area until after the earlier of June 30, 2027, or the date on
which all the conditions set forth in this chapter are met. Any
covered taxes attributable to a taxable event or covered taxes
earned in the tax area shall be allocated to the professional sports
development area fund established for the board.
(b) All of the salary, wages, bonuses, and other compensation
that are:
(1) paid during a taxable year to a professional athlete for
professional athletic services;
(2) taxable in Indiana; and
(3) earned in the tax area;
shall be allocated to the tax area if the professional athlete is a
member of a team that plays home games at a capital improvement
in the tax area.
(c) The resolution establishing the tax area must designate the
facilities and the sites of the facilities, for which the tax area is
established and covered taxes will be used.
(d) The department may adopt rules and guidelines to govern
the allocation of covered taxes to the tax area and to adopt
withholding requirements in the manner authorized under
IC 6-3-4-8.
Sec. 8. Notwithstanding any other law, the following apply:
(1) The Indiana economic development corporation is
prohibited from designating territory located in the tax area
under this chapter as an innovation development district
under IC 36-7-32.5.
(2) A designating body (as defined in IC 36-7-32.6-5) is
prohibited from designating territory located in the tax area
under this chapter as a stadium development district under
IC 36-7-32.6.
(3) The legislative body of the city is prohibited from
designating territory located in the tax area under this
chapter as an allocation area under any other provision of
Indiana code.
SEA 27 — Concur
39
(4) The northwest Indiana regional development authority
established by IC 36-7.5-2-1 is prohibited from designating
territory located in the tax area under this chapter as a transit
development district under IC 36-7.5-4.5.
Sec. 9. (a) When the commission adopts an allocation provision,
the commission shall, in cooperation with the department and the
Indiana office of technology, develop geographic information
system (GIS) codes for the properties in the tax area, in accordance
with guidelines issued by the department. The commission shall
provide the department with any information necessary for the
department to use GIS codes and data to collect covered taxes in
the tax area. The commission shall update the information
provided to the department and the Indiana office of technology
before July 1 of each year.
(b) Taxpayers operating in the tax area shall report monthly, in
the manner and in the form prescribed by the department,
information that the department determines necessary to calculate
the salary, wages, bonuses, and other compensation:
(1) that are:
(A) paid during the taxable year to a professional athlete
for professional athletic services;
(B) taxable in Indiana; and
(C) earned in the tax area; or
(2) that are:
(A) paid during a taxable year to a taxpayer other than a
professional athlete for professional athletic services; and
(B) earned in the tax area.
(c) A taxpayer operating in the tax area that files a consolidated
tax return with the department shall also file monthly an
informational return with the department for each business
location of the taxpayer within the tax area.
(d) Taxpayers operating in the tax area shall report monthly, in
the manner and in the form prescribed by the department,
information that the department determines necessary to calculate
withholdings required by IC 6-3-4-8.
(e) Taxpayers operating in the tax area shall report monthly, in
the manner and in the form prescribed by the department,
information that the department determines necessary to calculate
state gross retail taxes imposed under IC 6-2.5-2-1.
(f) If taxpayer fails to report the information required by this
section or file an informational return required by this section, the
department shall use the best information available in calculating
SEA 27 — Concur
40
the amount of covered taxes attributable to a taxable event in a tax
area or covered taxes from income earned in a tax area or by
individuals living in the tax area.
Sec. 10. If a tax area is established under section 7 of this
chapter, a professional sports development area fund is established
for that tax area. The fund shall be administered by the
department. Money in the fund does not revert to the state general
fund at the end of a state fiscal year.
Sec. 11. Covered taxes attributable to the tax area approved
under section 7 of this chapter shall be deposited in the
professional sports development area fund.
Sec. 12. On or before the twentieth day of each month, all
amounts on deposit in the professional sports development area
fund are appropriated for and shall be distributed to the board.
Sec. 13. The state comptroller, in cooperation with the
department, shall notify the president of the board of the amount
of taxes to be distributed to the board.
Sec. 14. All distributions from the professional sports
development area fund for the board shall be made by warrants
issued by the state comptroller to the treasurer of state ordering
those payments to the board.
Sec. 15. The board may use money distributed from the
professional sports development area fund to pay any costs related
to a capital improvement described in section 3(b) of this chapter,
including the following:
(1) Any costs related to the operation, maintenance, or
replacement of a capital improvement described in section
3(b) of this chapter.
(2) Any costs related to constructing, renovating, and
equipping a capital improvement described in section 3(b) of
this chapter.
(3) Any costs related to the financing or refinancing of a
capital improvement described in section 3(b) of this chapter,
including but not limited to any debt service payments on
bonds or lease rental payments in respect of leases.
(4) Any costs or expenses of the board or the authority
incurred in connection with administering the capital
improvement or related bonds, leases, agreements, or related
undertakings.
Sec. 16. The board shall repay to the professional sports
development area fund any amount that is distributed to the board
and used for a purpose that is not described in this chapter.
SEA 27 — Concur
41
SECTION 27. IC 36-7-32.6 IS ADDED TO THE INDIANA CODE
AS A NEW CHAPTER TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]:
Chapter 32.6. Northwest Indiana Stadium Development District
Sec. 1. As used in this chapter, "base assessed value" means the
net assessed value of all the taxable real property that is assessed
as commercial, residential, or industrial property under the rules
of the department of local government finance, and taxable
personal property that is located in the stadium development
district as finally determined for the assessment date immediately
preceding the effective date of the designation by the city under
section 14 of this chapter.
Sec. 2. As used in this chapter, "board" refers to the northwest
Indiana stadium board created by IC 36-10-9.5.
Sec. 3. As used in this chapter, "city" means the city of
Hammond, Indiana.
Sec. 4. As used in this chapter, "contractor" has the meaning set
forth in IC 6-2.5-1-14.9.
Sec. 5. As used in this chapter, "designating body" means the
legislative body of the city.
Sec. 6. As used in this chapter, "executive" means the executive
of the city.
Sec. 7. As used in this chapter, "gross retail base period
amount" means the aggregate amount of state gross retail and use
taxes remitted under IC 6-2.5:
(1) by the businesses operating in the territory comprising the
stadium development district; and
(2) that is, in the case of the:
(A) state gross retail tax, collected by a business for sales
occurring at a physical location of the business in the
stadium development district;
(B) state use tax, incurred with regard to property used in
the stadium development district; and
(C) state gross retail and use tax incurred and paid by a
contractor with regard to tangible personal property
incorporated into real property that is located in the
stadium development district, if the:
(i) contractor can determine the amount of state gross
retail or use tax incurred and paid on the tangible
personal property incorporated into real property that
is located in the stadium development district based on
records maintained under section 24 of this chapter; and
SEA 27 — Concur
42
(ii) state gross retail or use tax is not otherwise included
in the stadium development district or section 8 of this
chapter;
during the full state fiscal year that precedes the date on which the
stadium development district was designated under section 14 of
this chapter.
Sec. 8. As used in this chapter, "gross retail incremental
amount" means the remainder of:
(1) the aggregate amount of state gross retail and use taxes
that are remitted under IC 6-2.5:
(A) by businesses operating in the territory comprising the
stadium development district; and
(B) that is, in the case of the:
(i) state gross retail tax, collected by a business for sales
occurring at a physical location of the business in the
stadium development district;
(ii) state use tax, incurred with regard to property used
in the stadium development district; and
(iii) state gross retail and use tax incurred and paid by a
contractor with regard to tangible personal property
incorporated into real property that is located in the
stadium development district, if the contractor can
determine the amount of state gross retail or use tax
incurred and paid based on records maintained under
section 24 of this chapter and the state gross retail and
use tax is not otherwise included in the stadium
development district or section 7 of this chapter;
during the state fiscal year; minus
(2) the gross retail base period amount;
as determined by the department of state revenue.
Sec. 9. As used in this chapter, "income tax base period
amount" means the aggregate amount of state adjusted gross
income taxes paid:
(1) by employees employed in the territory comprising the
stadium development district with respect to wages and salary
earned for work in the stadium development district; and
(2) by individuals who are not employees with respect to
income received for services performed in the territory
comprising the stadium development district;
for the state fiscal year that precedes the date on which the stadium
development district is designated under section 14 of this chapter.
Sec. 10. As used in this chapter, "income tax incremental
SEA 27 — Concur
43
amount" means the remainder of:
(1) the total amount of state adjusted gross income taxes paid:
(A) by employees employed in the territory comprising the
stadium development district with respect to wages and
salary earned for work in the territory comprising the
stadium development district; and
(B) by individuals who are not employees with respect to
income received for services performed in the territory
comprising the stadium development district;
for a particular state fiscal year; minus
(2) the income tax base period amount.
Sec. 11. As used in this chapter, "net increment" means the sum
of:
(1) the gross retail incremental amount; plus
(2) the income tax incremental amount;
as determined by the department of state revenue.
Sec. 12. As used in this chapter. "professional sports
development area" means the northwest Indiana professional
sports development area that may be established under
IC 36-7-31.6.
Sec. 13. As used in this chapter, "stadium development district"
means the northwest Indiana stadium development district that
may be established under this chapter.
Sec. 14. The designating body may, by resolution or ordinance
adopted by the designating body, designate a stadium development
district in the city. Any such resolution or ordinance adopted by
the designating body shall include:
(1) a description of the stadium development district;
(2) the term of the stadium development district; and
(3) the plan for the stadium development district which shall
conform to the requirements of section 18 of chapter.
The boundaries of the stadium development district may not
extend beyond the corporate boundaries of the city and may not
include any territory that is within the professional sports
development area. The designating body may not designate any
more than one (1) stadium development district in the city.
Sec. 15. Upon adoption of a resolution or ordinance designating
a stadium development district under section 14 of this chapter, the
designating body shall submit the resolution or ordinance to the
budget committee established by IC 4-12-1-3 for review.
Sec. 16. A development within the stadium development district
is subject to any zoning ordinance or other zoning law that
SEA 27 — Concur
44
otherwise applies to territory within the stadium development
district.
Sec. 17. The term of the stadium development district as may be
designated in section 14 of this chapter may not exceed thirty-five
(35) years commencing from the date the budget committee
reviews the resolution or ordinance designating a stadium
development district pursuant to section 15 of this chapter.
Sec. 18. (a) The city shall establish a plan for the stadium
development district which shall be approved by ordinance or
resolution of the designating body as provided in section 14 of this
chapter.
(b) The plan must include the following provisions:
(1) A description of the area consistent with section 14 of this
chapter, including a list of all parcels included within the
stadium development district.
(2) Covenants and restrictions, if any, upon all or a part of the
properties contained within the stadium development district
and terms of enforcement of any covenants and restrictions.
(3) A general description of any financial commitments of any
owner or developer of property within the stadium
development district.
(4) The financial projections of the stadium development
district.
(5) The proposed use of the:
(A) net increment; and
(B) incremental property tax amount described in section
20(d) of this chapter;
that is captured within the stadium development district,
including the amount of any funds expected to be allocated to
the business or businesses that are locating within the stadium
development district as economic development incentives.
(6) The aggregate percentage of annual incremental property
tax revenue that will be transferred to the city under section
27(e) of this chapter. The aggregate percentage transferred
may not be less than twelve percent (12%) of the annual
amount of incremental property tax revenue deposited in the
stadium development district fund established by section 27
of this chapter.
(7) The public facilities to be developed for the stadium
development district and the estimated costs of those public
facilities.
(8) Subject to the limitations of this chapter, the duration of
SEA 27 — Concur
45
the designation of the area as a stadium development district.
Within fifteen (15) days of the approval thereof by the designating
body, the city shall cause the plan, including any amendments
thereto to the extent the designating body should amend the plan
from time to time, to be filed with the board, the department of
state revenue, and the department of local government finance.
(c) If the stadium development district will include territory
located in an existing allocation area, the executive, the city and the
board shall enter into an agreement establishing the terms and
conditions governing the stadium development district in
accordance with this section. The agreement must include the
following provisions:
(1) The provisions listed in subsection (b)(1) through (b)(8).
(2) A provision prohibiting the city or other entity that
established the applicable existing allocation area from
incurring any additional obligations that require a pledge of
future incremental property tax revenue to be paid from the
applicable existing allocation area without first obtaining the
consent of the city and the board.
(3) A provision requiring the maintenance of all applicable
property tax records for the parcel or parcels located within
the stadium development district during the term of the
stadium development district.
If the executive and the city cannot enter into an agreement under
this subsection, the designation of any portion of territory within
the stadium development district within the existing allocation area
will no longer be effective.
(d) The executive may discuss the terms of an agreement
described in this section and hold a meeting as an executive session
under IC 5-14-1.5-6.1 with the designating body.
(e) Within fifteen (15) days of entering into an agreement under
subsection (c), the city shall submit a written report on the
agreement to the budget committee, the department of state
revenue, and the department of local government finance.
Sec. 19. If the stadium development district is designated under
section 14 of this chapter, the executive shall designate the stadium
development district as an allocation area for purposes of the
allocation and distribution of property taxes. Not later than August
1 of the calendar year immediately following the designation, the
executive shall:
(1) set the base assessed value of the allocation area; and
(2) provide notice of the designation and notice of the base
SEA 27 — Concur
46
assessed value;
to the county auditor, the department of local government finance,
the board, and to each taxing unit that has authority to levy
property taxes in the geographic area where the stadium
development district is located. The notice must state the general
boundaries of the stadium development district and include the
mailing address of all parcels to include within the stadium
development district.
Sec. 20. (a) The allocation area designated under section 19 of
this chapter:
(1) applies to the entire stadium development district; and
(2) requires that any property tax assessed on taxable real and
personal property used for commercial, residential, or
industrial purposes subsequently levied by or for the benefit
of any public body entitled to a distribution of property taxes
in the stadium development district be allocated and
distributed as provided in subsections (c) and (d).
(b) Property tax proceeds may not be allocated under this
section before January 1 of the calendar year immediately
following the calendar year in which the base assessed value of the
allocation area is determined under section 19 of this chapter.
(c) Except as otherwise provided in this section, the proceeds of
the taxes attributable to the lesser of:
(1) the assessed value of the taxable real and personal
property for the assessment date with respect to which the
allocation and distribution is made; or
(2) the base assessed value:
shall be allocated and, when collected, paid into the funds of the
respective taxing units.
(d) Except as provided in subsection (e), all the property tax
proceeds that:
(1) exceed those described in subsection (c); and
(2) are attributable to the assessed value of taxable real and
personal property used for commercial, residential, or
industrial purposes;
shall be paid into the stadium development district fund established
by section 27 of this chapter by the county auditor at the same time
that the county auditor distributes property taxes to other local
units of government under IC 6-1.1-27. Any remaining property
tax proceeds that exceed those described in subsection (c) that are
not described in subdivision (2) shall be allocated and, when
collected, paid into the funds of the respective taxing units.
SEA 27 — Concur
47
(e) Notwithstanding any other law, the county assessor shall,
upon petition of the board, reassess the taxable real and personal
property situated upon or in the stadium development district
effective on the next assessment date after the petition.
(f) Notwithstanding any other law, the assessed value of all
taxable real and personal property in the stadium development
district, for purposes of tax limitation, property tax replacement,
and formulation of the budget, tax rate, and tax levy for each
political subdivision in which the property is located is the lesser
of:
(1) the assessed value of the taxable real and personal
property as valued without regard to this section; or
(2) the base assessed value.
Sec. 21. (a) Not later than April 15 of each year, the executive
and board shall submit a report setting out the stadium
development district's activities during the preceding calendar
year to the:
(1) fiscal body of the city; and
(2) department of local government finance in an electronic
format.
(b) The report required under subsection (a) must include the
following information set forth for the stadium development
district regarding the previous year:
(1) Revenues received.
(2) Expenses paid.
(3) Fund balances.
(4) The amount and maturity date for all outstanding
obligations.
(5) The amount paid on outstanding obligations.
(6) A list of all the parcels and the depreciable personal
property of any designated taxpayer included in the tax
increment financing district allocation area and the base
assessed value and incremental assessed value for each parcel
and the depreciable personal property of any designated
taxpayer in the list.
(7) Amounts distributed to the city as described in section
27(e) of this chapter.
Sec. 22. (a) The executive or the board may enter into a written
agreement with a taxpayer who owns, or is otherwise obligated to
pay property taxes on, tangible property that is or will be located
in the allocation area established under this chapter for the
stadium development district in which the taxpayer waives review
SEA 27 — Concur
48
of any assessment of the taxpayer's tangible property that is
located in the allocation area for an assessment date that occurs
during the term of any specified bond or lease obligations that are
payable, in whole or in part, from property taxes in accordance
with the allocation provision for the allocation area and any
applicable statute, ordinance, or resolution.
(b) Except as provided in subsection (c), but notwithstanding
any other law, the executive or board may exempt from taxation
any tangible real property improvements or personal property, or
a part of real property improvements or personal property, that:
(1) in the case of real property improvements, is assessed as
commercial, residential or industrial property under the rules
of the department of local government finance;
(2) is located within the stadium development district; and
(3) was:
(A) in the case of real property improvements,
constructed; and
(B) in the case of personal property, first entered into
service;
after the date that the stadium development district was
designated under section 14 of this chapter.
The executive or the board, as applicable, shall notify the county
assessor and county auditor of the county in which the real
property improvement or personal property is located of an
exemption provided under this subsection. The executive, if the
executive provided the exemption, or the board, if the board
provided the exemption, may terminate the exemption by
providing notice to the county assessor and county auditor of the
county in which the real property improvement or personal
property is located. An exemption, or the termination of an
exemption, is effective beginning with the assessment date that
immediately follows the date that the notice required under this
subsection is provided by the executive or the board.
(c) The executive and the board may not exempt from taxation
any real property improvements or personal property described in
subsection (b) after any bonds have been issued by the board or the
northwest Indiana stadium authority under IC 5-1-17.1 that are
payable from revenues deposited in the stadium development
district fund established under section 27 of this chapter as long as
the bonds remain outstanding.
Sec. 23. (a) The state board of accounts, the department of state
revenue, and the department of local government finance may
SEA 27 — Concur
49
adopt rules under IC 4-22-2 and prescribe the forms and
procedures that the state board of accounts, the department of
state revenue, and the department of local government finance
consider appropriate for the implementation of the stadium
development district under this chapter. However, before adopting
rules under this section, the state board of accounts, the
department of state revenue, and the department of local
government finance shall submit a report to the budget committee
that:
(1) describes the rules proposed by the state board of
accounts, the department of state revenue, and the
department of local government finance; and
(2) recommends statutory changes necessary to implement the
provisions of this chapter.
(b) After each reassessment of real property in an area under a
county's reassessment plan prepared under IC 6-1.1-4-4.2, the
department of local government finance shall adjust the base
assessed value one (1) time to neutralize any effect of the
reassessment of the real property in the area on the property tax
proceeds allocated to the stadium development district fund
established by section 27 of this chapter.
(c) After each annual adjustment under IC 6-1.1-4-4.5, the
department of local government finance shall adjust the base
assessed value to neutralize any effect of the annual adjustment on
the property tax proceeds allocated to the stadium development
district fund established by section 27 of this chapter.
Sec. 24. (a) A contractor that provides tangible personal
property incorporated into real property in a project located in the
stadium development district shall maintain records of all state
gross retail and use tax paid or collected during a state fiscal year
for the tangible personal property incorporated into the real
property in projects located in the stadium development district.
(b) A contractor may issue an exemption certificate under
IC 6-2.5-8-8 to a vendor when purchasing tangible personal
property to be incorporated into real property located in the
stadium development district.
(c) A contractor that issues an exemption certificate to a vendor
under subsection (b) is liable for collecting gross retail tax from the
customer on the tangible personal property if the contractor uses
a time and materials contract, or when accruing and remitting
state use tax on the purchase price of the tangible personal
property if the contractor uses a lump sum contract.
SEA 27 — Concur
50
(d) A contractor shall report the following to the department of
state revenue, disaggregated by project, annually for each state
fiscal year:
(1) The amount of state gross retail and use taxes paid or
collected by a contractor with respect to tangible personal
property incorporated into real property in a project located
in the stadium development district.
(2) The issuing of any exemption certificates by the contractor
under subsection (b).
A contractor shall report the information required under this
subsection for a state fiscal year not later than the July 31
immediately following the end of the state fiscal year.
Sec. 25. (a) Except as provided in subsection (b), if the stadium
development district is designated under section 14 of this chapter,
the city shall, not later than August 1 of the calendar year
immediately following the designation date, send to the department
of state revenue:
(1) a certified copy of the designation of the stadium
development district under section 14 of this chapter,
including the date of the designation;
(2) a certified copy of the plan under section 18 for the
stadium development district;
(3) if an agreement is entered into under section 18 of this
chapter, a certified copy of the agreement; and
(4) a complete list of the employers and businesses that are
paying for the services of individuals who are not employees
in the stadium development district and each mailing address
on each street in the stadium development district.
The city shall provide, within ten (10) days of a request, any
additional information requested by the department of state
revenue concerning any information described in subdivisions (1)
through (4).
(b) The city shall update and send the list described in
subsection (a)(4) to the department of state revenue before July 1
of each year.
Sec. 26. (a) Not later than October 1 of the calendar year
immediately following the designation date of the stadium
development district, the department of state revenue shall set the
gross retail base period amount and the income tax base period
amount. The department of state revenue may request any
information necessary from the executive or the board to
determine the gross retail base period amount and the income tax
SEA 27 — Concur
51
base period amount. Not later than ten (10) days after a request
from the department of state revenue, the executive and the board
shall provide the necessary information.
(b) Revenue collected under the state adjusted gross income
taxes and state gross retail and use taxes may not be allocated
under this section before January 1 of the year immediately
following the year in which the gross retail base period amount and
the income tax base period amount are determined under
subsection (a).
(c) Before the first business day in October of each year, the
department of state revenue shall calculate the income tax
incremental amount and the gross retail incremental amount for
the preceding state fiscal year for the stadium development district
designated under this chapter.
(d) Taxpayers operating in the stadium development district
shall report annually, in the manner and form prescribed by the
department of state revenue, information that the department of
state revenue determines necessary to calculate the net increment.
(e) A taxpayer operating in the stadium development district
that files a consolidated tax return with the department of state
revenue shall also file annually an informational return with the
department of state revenue for each business location of the
taxpayer within the stadium development district.
(f) If a taxpayer fails to report the information required by this
section or file an informational return required by this section, the
department of state revenue shall use the best information
available in calculating the income tax incremental amount and
gross retail incremental amount.
(g) The department of state revenue shall transfer the amount
calculated as provided in subsection (c) to the stadium development
district fund established for the stadium development district
under section 27 of this chapter by November 1 of each year.
Sec. 27. (a) The board or its designee shall establish a stadium
development district fund for the stadium development district
designated under section 14 of this chapter.
(b) The fund consists of:
(1) deposits of incremental property tax revenue from the
county auditor as provided in section 20(d) of this chapter;
and
(2) transfers from the department of state revenue under
section 26 of this chapter.
(c) The board or its designee shall administer the stadium
SEA 27 — Concur
52
development district fund established under this section. The
expenses of administering each fund shall be paid from money in
the fund.
(d) The board may use money in each fund for the following
purposes:
(1) The acquisition, improvement, preparation, demolition,
disposal, construction, reconstruction, remediation,
rehabilitation, restoration, preservation, maintenance, repair,
furnishing, and equipping of public facilities, including but
not limited to any stadiums, parking facilities or training
facilities, utilities and transportation infrastructure.
(2) The acquisition of land whether or not located within the
stadium development district but within the city.
(3) The recruitment of new businesses and new employees to
the stadium development district.
(4) The payment of economic development incentives granted
by the Indiana economic development corporation to
businesses located within the boundaries of the stadium
development district.
(5) To reimburse the state of Indiana or the Indiana finance
authority created by IC 5-1.2-3 for expenditures described in
subdivisions (1) through (4).
(6) The payment of debt service payments or lease rental
obligations due and payable during the state fiscal year for
bonds issued by, or leases entered into by, the board or the
northwest Indiana stadium authority created by IC 5-1-17.1,
including any such obligations to finance all or any part of
any stadiums, parking facilities, or training facilities, whether
or not located within the stadium development district but
within the city.
(e) Not later than August 1 of each year, the board shall transfer
an amount of incremental property tax revenue that may not be
less than twelve percent (12%) of the annual amount of
incremental property tax revenue deposited under subsection
(b)(1) to the general fund of the city. A transfer under this
subsection does not reduce the actual or maximum permissible levy
of the city and may not be considered in determining the city's
maximum permissible ad valorem property tax levy limit under
IC 6-1.1-18.5.
(f) Money in the stadium development district fund at the end
of a state fiscal year does not revert to the state general fund.
(g) Money in the stadium development district fund is
SEA 27 — Concur
53
continuously appropriated for the purposes specified in this
section.
Sec. 28. (a) Notwithstanding any other law, the Indiana
economic development corporation is prohibited from designating
territory located in the stadium development district under this
chapter as an innovation development district under IC 36-7-32.5.
(b) Notwithstanding any other law, the northwest Indiana
regional development authority established by IC 36-7.5-2-1 is
prohibited from designating territory located in the stadium
development district under this chapter as a transit development
district under IC 36-7.5-4.5.
SECTION 28. IC 36-7.5-7-10, AS ADDED BY P.L.195-2023,
SECTION 7, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 10. (a) A local county fund known as the Lake
County convention and event center reserve fund is established to pay
for:
(1) additions;
(2) refurbishment; and
(3) budget shortfalls or other unusual costs;
of a convention and event center that is constructed using money from
the convention fund under this chapter.
(b) The reserve fund consists of:
(1) transfers under IC 6-9-2-1.5(c) (as in effect before
amendment in the 2026 session of the general assembly); and
(2) gifts, grants, donations, or other contributions from any other
public or private source.
(c) The convention center authority shall administer the reserve
fund.
SECTION 29. IC 36-10-9.5 IS ADDED TO THE INDIANA CODE
AS A NEW CHAPTER TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]:
Chapter 9.5. Northwest Indiana Stadium Board
Sec. 1. As used in this chapter:
"Board" refers to a northwest Indiana stadium board created
under this chapter.
"Bonds" means bonds issued under section 12 or 15 of this
chapter and, except as used in section 12 of this chapter or
unless the context otherwise requires, lease agreements
entered into under section 5(15) of this chapter.
"Capital improvement" means the building, facilities, or
improvements that the board determines will be of general
public benefit or welfare and will promote the cultural,
SEA 27 — Concur
54
recreational, public, or civic well-being of the city and
northwest Indiana. This includes the land comprising the site,
equipment, heating and air conditioning facilities, sewage
disposal facilities, landscaping, walks, drives, parking
facilities, and other structures, facilities, appurtenances,
materials, equipment, and supplies that are necessary to make
any building, facility, or improvement suitable for the use for
which it was constructed.
"City" means the city of Hammond, Indiana.
"Contract" includes a lease or other agreement.
"Controller" means the controller appointed by the board
pursuant to section 8(c) of this chapter.
"County" means, collectively, Lake and Porter counties.
"Excise taxes" refers to the excise taxes imposed by IC 6-9-36,
IC 6-9-58, and IC 6-9-78.
"Issue", "issued", or "issuance" means in the case of lease
agreements "execute", "executed", or "execution",
respectively.
"Lease agreements" means lease agreements entered into
under section 5(15) of this chapter.
"Net income" means the gross income from the operation of
a capital improvement after deducting the necessary
operating expenses of the board.
"Notes" means notes issued under section 20 of this chapter.
"Operating expenses" means:
(A) the necessary operational expenses of the board in
performing its duties under this chapter, including
maintenance, repairs, replacements, alterations, and costs
of services of architects, engineers, accountants, attorneys,
and consultants;
(B) the expenses for any other purpose that has been
approved under section 7 of this chapter; and
(C) the maintenance of reasonable reserves for any of the
items listed in clauses (A) and (B) of this definition or for
other purposes required under a resolution, ordinance, or
trust agreement.
"Principal and interest" or "principal on and interest of"
includes, unless the context otherwise requires, payments
required by lease agreements.
"Project" refers to a project of the board for the construction
or lease of a facility and all buildings, facilities, structures,
and improvements related to that facility.
SEA 27 — Concur
55
"Public benefit" refers to a grant, a tax abatement, a tax
credit, or establishment or use of tax area revenues related to
a project.
"Public finance director" means the public finance director
appointed under IC 5-1.2-3-6.
"Trust agreements", except as used in section 13 of this
chapter or unless the context otherwise requires, includes
lease agreements.
Sec. 2. (a) A northwest Indiana stadium board is hereby created.
(b) The northwest Indiana stadium board may finance,
construct, equip, operate, and maintain a capital improvement
under this chapter.
Sec. 3. (a) The board is composed of the following five (5)
members:
(1) The director of the office of management and budget, or
the director's designee, who shall serve as president of the
board.
(2) Two (2) members appointed by the executive of the city.
(3) The public finance director, or the director's designee.
(4) One (1) member selected by the public finance director.
(b) A member appointed under subsection (a)(2) serves an initial
term that expires December 31, 2027, and each fourth year
thereafter. The member may be reappointed by the appointing
authority to subsequent terms.
(c) A member appointed under subsection (a)(4) serves an initial
term that expires December 31, 2028, and each fourth year
thereafter. The member may be reappointed by the public finance
director to subsequent terms.
(d) If a vacancy occurs on the board, the appointing authority
shall appoint a new member. That member serves for the
remainder of the vacated term.
(e) A member may be removed for cause by the appointing
authority who appointed the member.
(f) Each member, before entering upon the duties of office, shall
take and subscribe an oath of office in the usual form. The oath
shall be endorsed upon the member's certificate of appointment,
which shall be promptly filed with the records of the board.
(g) A member does not receive a salary, but is entitled to
reimbursement for any expenses necessarily incurred in the
performance of the member's duties.
Sec. 4. (a) The board shall hold an annual organizational
meeting. It shall elect one (1) of the members vice president,
SEA 27 — Concur
56
another secretary, and another treasurer to perform the duties of
those offices. The officers serve from the date of their election until
their successors are elected and qualified.
(b) Special meetings may be called by the president of the board.
(c) The board may adopt the bylaws and rules that it considers
necessary for the proper conduct of its duties and the safeguarding
of the funds and property entrusted to its care. A majority of the
members constitutes a quorum, and the concurrence of a majority
of the members is necessary to authorize any action.
(d) Subject to IC 5-14-1.5-3.6, members of the board may
participate in a meeting of the board by electronic communication.
Sec. 5. The board may, acting under the title "northwest
Indiana stadium board", do the following:
(1) Acquire by grant, purchase, gift, devise, lease,
condemnation, or otherwise, and hold, use, sell, lease, or
dispose of, real and personal property and all property rights
and interests necessary or convenient for the exercise of its
powers under this chapter.
(2) Construct, reconstruct, repair, remodel, enlarge, extend,
or add to any capital improvement built or acquired by the
board under this chapter.
(3) Control and operate a capital improvement, including
letting concessions and leasing all or part of the capital
improvement.
(4) Fix charges and establish rules governing the use of a
capital improvement.
(5) Accept gifts or contributions from individuals,
corporations, limited liability companies, partnerships,
associations, trusts, or political subdivisions, foundations, and
funds, loans, or advances on the terms that the board
considers necessary or desirable from the United States, the
state, and any political subdivision or department of either,
including entering into and carrying out contracts and
agreements in connection with this subdivision.
(6) Exercise in the name of the board the power of eminent
domain under general statutes governing the exercise of the
power for a public purpose.
(7) Receive and collect money due for the use or leasing of a
capital improvement and from concessions and other
contracts, and expend the money for proper purposes.
(8) Receive excise taxes, income taxes, ad valorem property
taxes, and any other taxes or revenues and expend the money
SEA 27 — Concur
57
for operating expenses, payments of principal or interest of
bonds or notes issued under this chapter, and for all or part
of the cost of a capital improvement.
(9) Retain the services of architects, engineers, accountants,
attorneys, and consultants and hire employees upon terms
and conditions established by the board, so long as any
employees or members of the board authorized to receive,
collect, and expend money are covered by a fidelity bond, the
amount of which shall be fixed by the board. Funds may not
be disbursed by an employee or member of the board without
prior specific approval by the board.
(10) Provide coverage for its employees under IC 22-3 and
IC 22-4.
(11) Purchase public liability and other insurance considered
desirable.
(12) Make and enter into all leases, contracts, and agreements
necessary or incidental to the performance of its duties and
the execution of its powers under this chapter, including the
enforcement of them.
(13) Sue and be sued in the name and style of "northwest
Indiana stadium board", service of process being had by
leaving a copy at the board's office.
(14) Prepare and publish descriptive material and literature
relating to the facilities and advantages of a capital
improvement and do all other acts that the board considers
necessary to promote and publicize the capital improvement,
including the convention and visitor industry, and serve the
commercial, industrial, and cultural interests of Indiana and
its citizens. The board may assist, cooperate, and fund
governmental, public, and private agencies and groups for
these purposes.
(15) Enter into leases of capital improvements and sell or lease
property under IC 5-1-17.1.
Sec. 6. (a) The purchase or lease of material and work on a
capital improvement shall be done by the board under statutes
governing these activities by counties. However, if the total cost of
construction or equipping of a capital improvement or of the
alteration, maintenance, or repair of any building is estimated to
be fifty thousand dollars ($50,000) or less, the board may procure
materials and perform the work by its own employees and with
owned or leased equipment without awarding a contract. In
addition, in an emergency determined and declared by the board
SEA 27 — Concur
58
and entered in its records, the board may make emergency
alterations, repairs, or replacements and contract for them without
advertising for bids.
(b) Title to or interest in any property acquired shall be held in
the name of the board, and the board has complete and exclusive
authority to sell, lease, or dispose of it and to execute all
conveyances, leases, contracts, and other instruments in connection
with it.
Sec. 7. (a) The board shall prepare a budget for each calendar
year covering the projected operating expenses, projected
expenditures for capital improvements or land acquisition, and
estimated income to pay the operating expenses and capital
expenditures, including amounts, if any, to be received from excise
taxes, ad valorem property taxes, and any other taxes or revenues.
It shall submit the operating and capital budget for review,
approval, or rejection to the public finance director. The board
may make expenditures only as provided in the budget as
approved, unless additional expenditures are approved by the
public finance director. However, payments to users of any capital
improvement that constitute a contractual share of box office
receipts are neither an operating expense nor an expenditure
within the meaning of this section.
(b) If the board desires to finance a capital improvement in
whole or in part by the issuance of bonds under section 12 or 15 of
this chapter, the board shall submit the following information to
the northwest Indiana stadium authority at least thirty (30) days
before the adoption of a resolution authorizing the issuance of the
bonds:
(1) A description of the project to be financed through the
issuance of bonds.
(2) The total amount of the project anticipated to be funded
through the issuance of bonds.
(3) The total amount of other anticipated revenue sources for
the project.
(4) Any other terms upon which the bonds will be issued.
(c) The northwest Indiana stadium authority must discuss the
information provided in subsection (b) in a public hearing held
before the resolution may be adopted by the board.
(d) The board shall post the board's proposed budget and
adopted budget on the board's website.
Sec. 8. (a) The treasurer of the board is the official custodian of
all funds and assets of the board and is responsible for their
SEA 27 — Concur
59
safeguarding and accounting. The treasurer shall give bond for the
faithful performance and discharge of all duties required of the
treasurer by law in the amount and with surety and other
conditions that may be prescribed and approved by the board. All
funds and assets in the capital improvement fund and the capital
improvement bond fund created by this chapter and all other
funds, assets, and tax revenues held, collected, or received by the
treasurer of the applicable county for the use of the board shall be
promptly remitted and paid over by the applicable county
treasurer to the treasurer of the board, who shall issue receipts for
them.
(b) The treasurer of the board shall deposit all funds coming
into the treasurer's hands as required by this chapter, and in
accordance with IC 5-13. Money so deposited may be invested and
reinvested by the treasurer in accordance with general statutes
relating to the investment of public funds and in securities that the
board specifically directs. All interest and other income earned on
investments becomes a part of the particular fund from which the
money was invested, except as provided in a resolution, ordinance,
or trust agreement providing for the issuance of bonds or notes. All
funds invested in deposit accounts as provided in IC 5-13-9 must be
insured under IC 5-13-12.
(c) The board shall appoint a controller to act as the auditor and
assistant treasurer of the board. The controller shall serve as the
official custodian of all books of account and other financial
records of the board and has the same powers and duties as the
treasurer of the board or the lesser powers and duties that the
board prescribes. The controller and any other employee or
member of the board authorized to receive, collect, or expend
money shall give bond for the faithful performance and discharge
of all duties required of the controller in the amount and with
surety and other conditions that may be prescribed and approved
by the board. The controller shall keep an accurate account of all
money due the board and of all money received, invested, and
disbursed in accordance with generally recognized governmental
accounting principles and procedure. All accounting forms and
records shall be prescribed or approved by the state board of
accounts.
(d) The controller shall issue all warrants for the payment of
money from the funds of the board in accordance with procedures
prescribed by the board but a warrant may not be issued for the
payment of a claim until an itemized and verified statement of the
SEA 27 — Concur
60
claim has been filed with the controller, who may require evidence
that all amounts claimed are justly due. All warrants shall be
countersigned by the treasurer of the board or by the executive
manager. Warrants may be executed with facsimile signatures.
(e) If there are bonds or notes outstanding issued under this
chapter, the controller shall deposit with the paying agent or other
paying officer within a reasonable period before the date that any
principal or interest becomes due sufficient money for the payment
of the principal and interest on the due dates. The controller shall
make the deposit with money from the sources provided in this
chapter, and shall make the deposit in an amount that, together
with other money available for the payment of the principal and
interest, is sufficient to make the payment. In addition, the
controller shall make other deposits for the bonds and notes as is
required by this chapter or by the resolutions, ordinances, or trust
agreements under which the bonds or notes are issued.
(f) The controller shall submit to the board at least annually a
report of the board's accounts exhibiting the revenues, receipts,
and disbursements and the sources from which the revenues and
receipts were derived and the purpose and manner in which they
were disbursed. The board may require that the report be
prepared by an independent certified public accountant designated
by the board. The state board of accounts shall audit the accounts,
books, and records of the board and prepare a financial report and
a compliance audit report. The handling and expenditure of funds
is subject to supervision by the state board of accounts.
Sec. 9. (a) Unless there are bonds or notes outstanding under
this chapter and secured in whole or in part by money deposited in
the capital improvement bond fund, the proceeds of excise taxes
received from the treasurer of the state shall be deposited in a
separate and distinct fund called the "capital improvement fund".
The gross income received by the board from the operation of
capital improvements under this chapter shall be deposited in the
capital improvement fund, regardless of whether or not there are
any bonds or notes outstanding. Any money in the fund may be
expended by the board without the necessity of an appropriation
to pay or provide for the payment of operating expenses. Money in
the fund may also be used by the board without appropriation or
approval to pay the principal on, or interest of, any bonds or notes
issued under this chapter that cannot be paid from funds in the
capital improvement bond fund or may be used for the payment of
the principal of, redemption premium, if any, for, and interest on
SEA 27 — Concur
61
any bonds or notes issued under this chapter, upon prior
redemption, or for all or part of the cost of a capital improvement.
(b) The board may covenant in any resolution, ordinance, or
trust agreement providing for the issuance of bonds or notes as to
the order of application of money deposited in the capital
improvement fund, including the holding or disposing of any
surplus in that fund.
(c) The net income from the operation of capital improvements
under this chapter shall be transferred from the capital
improvement fund to the capital improvement bond fund to the
extent of any deficiency in the amount required to be in the capital
improvement bond fund.
Sec. 10. (a) If there are any outstanding bonds or notes issued
under this chapter and secured in whole or in part by money
deposited in the capital improvement bond fund, the treasurer of
the board shall, except as otherwise provided in this section,
deposit the following amounts in a separate and distinct fund called
the "capital improvement bond fund":
(1) Excise tax proceeds received by the treasurer.
(2) Net income transferred to the capital improvement bond
fund under section 9 of this chapter.
(3) Any other amounts received for deposit in the capital
improvement bond fund.
(b) Principal and interest subaccounts shall be maintained in the
capital improvement bond fund. The lesser of the following
amounts shall be deposited in the principal and interest
subaccounts:
(1) The total of the amounts listed in subsection (a).
(2) The total of the principal and interest subaccounts for all
outstanding bonds and notes issued under this chapter, the
amounts required by the resolutions, ordinances, and trust
agreements under which the bonds or notes are issued.
Deposits to principal and interest subaccounts for notes and for
bonds shall be made in the manner and in the order of priority that
is provided in the resolutions, ordinances, and trust agreements
under which the bonds or notes are issued. Amounts in a principal
and interest subaccount may be used solely to pay the principal of
and interest on the issue or issues of bonds or notes for which the
principal and interest subaccount was established.
(c) The treasurer of the board shall maintain in the capital
improvement bond fund a bond reserve subaccount for bonds and
for notes secured in whole or in part by money deposited in the
SEA 27 — Concur
62
capital improvement bond fund. These subaccounts shall be
maintained to the extent and in the amount required by the
resolutions, ordinances, and trust agreements under which the
bonds or notes are issued. Amounts described in subsection (a) that
are not required to be deposited in principal and interest
subaccounts under subsection (b) shall be deposited in the reserve
subaccounts to the extent of any deficiency in those subaccounts.
Deposits to the reserve subaccounts for notes and for bonds shall
be made in the manner and in the order of priority that is provided
in the resolutions, ordinances, and trust agreements under which
the bonds or notes are issued. Subject to subsection (e), amounts in
a reserve subaccount may be used solely to pay the principal of and
interest on the issue or issues of bonds or notes for which the
reserve subaccount was established and only to the extent amounts
in the principal and interest subaccount for the issue or issues of
bonds or notes are not sufficient for that purpose.
(d) Amounts described in subsection (a) that are not required to
be deposited in principal and interest subaccounts or bond reserve
subaccounts under subsections (b) and (c) shall be deposited in the
capital improvement fund rather than the capital improvement
bond fund.
(e) Unless otherwise provided in any resolution, ordinance, or
trust agreement under which bonds or notes are issued, amounts
in the capital improvement bond fund in excess of the amount
required by this section to be on deposit in that fund shall be
transferred to the capital improvement fund.
(f) Subject to any trust agreements, funds on deposit in the
capital improvement fund shall be transferred to the Indiana
finance authority created by IC 5-1.2-3 for deposit into separate
accounts, based on pro rata county population, for the payment or
reimbursement of costs associated with transportation or
infrastructure projects in the following counties:
(1) Elkhart County.
(2) LaGrange County.
(3) LaPorte County.
(4) Porter County.
(5) Steuben County.
(6) St. Joseph County.
The maximum amount of all deposits by the Indiana finance
authority under this subsection shall not exceed the amount of
proceeds received by the Indiana finance authority, including
interest earned on such proceeds, in connection with an extension
SEA 27 — Concur
63
or amendment executed after January 1, 2026, and before
December 31, 2026, related to a public-private agreement to which
the authority is a party under IC 8-15.5, and that was originally
entered into before January 1, 2013, and contributed by the
Indiana finance authority towards a project.
(g) The principal and interest subaccount and bond reserve
subaccounts shall be held by the treasurer of the board or by an
escrow agent, depository, or trustee provided in the resolutions,
ordinances, or trust agreements establishing the subaccounts. One
(1) principal and interest subaccount or bond reserve subaccount
may be established for two (2) or more issues of bonds or notes.
(h) For purposes of this section and section 9 of this chapter,
bonds issued under section 15 of this chapter shall be considered to
be secured by money deposited in the capital improvement bond
fund, if provided in the resolution, ordinance, or trust agreement
providing for the issuance of the bonds.
Sec. 11. (a) Upon the defeasance of an issue of northwest Indiana
stadium board bonds, the board may use funds in its capital
improvement bond fund for those defeased bonds for the purposes
set forth in subsection (b) if the board:
(1) has sold all or part of a capital improvement to the
northwest Indiana stadium authority and leased it back; or
(2) has leased all or part of a capital improvement to the
northwest Indiana stadium authority and leased it back.
(b) The board may use the funds in the capital improvement
fund for the defeased bonds for the following:
(1) As payment of lease rental or as a reserve for lease rental.
(2) As a deposit with the northwest Indiana stadium authority
or a trustee for the authority's bond owners to be used for
payment of those bonds or as a reserve for those bonds.
(3) For any purpose for which the board is authorized to
expend or apply funds.
(4) For any combination of the purposes set forth in
subdivisions (1), (2), and (3).
Sec. 12. (a) A capital improvement may be financed in whole or
in part by the issuance of bonds payable, to the extent stated in the
resolution or trust agreement providing for the issuance of the
bonds, solely from one (1) or more of the following sources:
(1) Net income received from the operation of the capital
improvement and not required to be deposited in the capital
improvement bond fund under section 10 of this chapter.
(2) Net income received from the operation of any other
SEA 27 — Concur
64
capital improvement or improvements and not required to be
deposited in the capital improvement bond fund under section
10 of this chapter.
(3) Money in the capital improvement bond fund available for
that purpose.
(4) Money in the capital improvement fund available for that
purpose.
(5) Any other funds made available for that purpose.
The resolution or trust agreement may pledge all or part of those
amounts to the repayment of the bonds and may secure the bonds
by a lien on the amounts pledged.
(b) If the board desires to finance a capital improvement in
whole or in part as provided in this section, it shall adopt a
resolution authorizing the issuance of revenue bonds. The
resolution must state the date or dates on which the principal of the
bonds will mature (not exceeding forty (40) years from the date of
issuance), the maximum interest rate to be paid, and the other
terms upon which the bonds will be issued.
(c) The board may, under section 13 of this chapter, enter into
a trust agreement with a trust company as trustee for the
bondholders. An action to contest the validity of bonds to be issued
under this section may not be brought after the fifteenth day
following:
(1) the receipt of bids for the bonds, if the bonds are sold at
public sale; or
(2) the publication one (1) time in a newspaper of general
circulation published in the city of notice of the execution and
delivery of the contract of sale for the bonds;
whichever occurs first.
(d) Bonds issued under this section may be sold at public or
private sale for the price or prices that are provided in the
resolution authorizing the issuance of bonds. All bonds and interest
are exempt from taxation in Indiana as provided in IC 6-8-5.
(e) When issuing revenue bonds, the board may covenant with
the purchasers of the bonds that any funds in the capital
improvement fund may be used to pay the principal on, or interest
of, the bonds that cannot be paid from any other funds.
(f) The revenue bonds may be made redeemable before maturity
at the price or prices and under the terms that are determined by
the board in the authorizing resolution. The board shall determine
the form of bonds, including any interest coupons to be attached,
and shall fix the denomination or denominations of the bonds and
SEA 27 — Concur
65
the place or places of payment of the principal and interest, which
may be at any bank or trust company within or outside Indiana.
All bonds must have all the qualities and incidents of negotiable
instruments under statute. Provision may be made for the
registration of any of the bonds as to principal alone or to both
principal and interest.
(g) The revenue bonds must recite on the face that the principal
of and interest on the bonds is payable solely from the amounts
pledged to their payment. The bonds shall be executed by the
manual or facsimile signature of the president of the board, and
attested by the manual or facsimile signature of the treasurer of
the board. However, one (1) of the signatures must be manual,
unless the bonds are authenticated by the manual signature of an
authorized officer or a trustee for the bondholders. Any coupons
attached must bear the facsimile signature of the president of the
board.
(h) This chapter constitutes full and complete authority for the
issuance of revenue bonds. No law, procedure, proceedings,
publications, notices, consents, approvals, orders, acts, or things by
the board or any other officer, department, agency, or
instrumentality of the state or any political subdivision is required
to issue any revenue bonds except as prescribed in this chapter.
(i) Revenue bonds issued under this section are legal investments
for private trust funds and the funds of banks, trust companies,
insurance companies, building and loan associations, credit unions,
banks of discount and deposit, savings banks, loan and trust and
safe deposit companies, rural loan and savings associations,
guaranty loan and savings associations, mortgage guaranty
companies, small loan companies, industrial loan and investment
companies, and other financial institutions organized under
statute.
Sec. 13. (a) Revenue bonds issued under this chapter may be
secured by a trust agreement by and between the board and a
corporate trustee, which may be any trust company or bank having
the powers of a trust company in Indiana. Any resolution adopted
by the board providing for the issuance of revenue bonds and any
trust agreement under which the revenue bonds are issued may
pledge or assign, subject only to valid prior pledges, all or a part of
the amounts authorized by this chapter, but the board may not
convey or mortgage any capital improvement or any part of a
capital improvement.
(b) In authorizing the issuance of revenue bonds, the board
SEA 27 — Concur
66
may:
(1) limit the amount of revenue bonds that may be issued as a
first lien against the amounts pledged to the payment of those
revenue bonds; or
(2) authorize the issuance from time to time of additional
revenue bonds secured by the same lien.
Additional revenue bonds shall be issued on the terms and
conditions provided in the bond resolution or resolutions adopted
by the board and in the trust agreement or any agreement
supplemental to the trust agreement. Additional revenue bonds
may be secured equally and ratably without preference, priority,
or distinction with the original issue of revenue bonds or may be
made junior to the original issue of revenue bonds.
(c) Any pledge or assignment made by the board under this
section is valid and binding from the time that the pledge or
assignment is made, and the amounts pledged and received by the
board are immediately subject to the lien of the pledge or
assignment without physical delivery of those amounts or further
act. The lien of the pledge or assignment is valid and binding
against all parties having claims of any kind in tort, contract, or
otherwise against the board irrespective of whether these parties
have notice of the lien. Neither the resolution nor any trust
agreement by which a pledge is created or an assignment need be
filed or recorded in order to perfect the resulting lien against third
parties. However, a copy of the pledge or assignment shall be filed
in the records of the board.
(d) Any trust agreement or resolution providing for the issuance
of revenue bonds may contain provisions for protecting and
enforcing the rights and remedies of the bondholders that are
reasonable and proper and not in violation of law. The provisions
may include covenants stating the duties of the board in relation to:
(1) the acquisition of property;
(2) the construction, improvement, maintenance, repair,
operation, and insurance of the capital improvement or
capital improvements in connection with which the bonds
have been authorized;
(3) the rates of fees, rentals, or other charges to be collected
for the use of the capital improvement or capital
improvements;
(4) the custody, safeguarding, investment, and application of
all money received or to be received by the board or trustee;
(5) the establishment of funds, reserves, and accounts; and
SEA 27 — Concur
67
(6) the employment of consulting engineers in connection with
the construction or operation of the capital improvement or
capital improvements.
(e) It is lawful for any bank or trust company incorporated
under statute, and any national banking association that may act
as depository of the proceeds of bonds or other funds of the board,
to furnish indemnifying bonds or to pledge securities that are
required by the board.
(f) Any trust agreement entered into under this section may
state the rights and remedies of the bondholders and of the trustee,
and may restrict the individual right of action by bondholders as
is customary in trust agreements or trust indentures securing
bonds or debentures of private corporations. In addition, the trust
agreement may contain other provisions that the board considers
reasonable and proper for the security of the bondholders.
(g) All expenses incurred in carrying out a trust agreement
entered into under this section may be treated as a part of the
necessary operating expenses of the board.
Sec. 14. (a) The Indiana general assembly covenants with the
purchasers of any bonds or notes issued under this chapter that:
(1) the excise taxes pledged to the payment of those bonds and
notes will not be repealed, amended, or altered in any manner
that would reduce or adversely affect the levy and collection
of those taxes; and
(2) it will not reduce the rates or amounts of those taxes; as
long as the principal of, or interest on, any bonds or notes is
unpaid.
(b) The board may make a similar pledge or covenant in any
agreement with the purchasers of any bonds or notes issued under
this chapter.
(c) For purposes of this section, the principal of or interest on
bonds or notes is considered paid if provision has been made for
their payment in such a manner that the bonds or notes are not
considered to be outstanding under the resolution, ordinance, or
trust agreement under which the bonds or notes are issued.
Sec. 15. (a) A capital improvement may be financed in whole or
in part by the issuance of general obligation bonds of the city.
(b) If the board desires to finance a capital improvement in
whole or in part as provided in this section, it shall have prepared
a resolution to be adopted by the legislative body of the city
authorizing the issuance of general obligation bonds. The
resolution must state the date or dates on which the principal of the
SEA 27 — Concur
68
bonds is payable, the maximum interest rate to be paid, and the
other terms upon which the bonds shall be issued. The board shall
submit the proposed resolution to the legislative body of the city
for approval under IC 36-4-6-19, together with a certificate to the
effect that the issuance of bonds in accordance with the resolution
will be in compliance with this section. The certificate must also
state the estimated annual net income of the capital improvement
to be financed by the bonds, the estimated annual tax revenues, and
the maximum amount payable in any year as principal and interest
on the bonds issued under this chapter, including the bonds
proposed to be issued, at the maximum interest rate set forth in the
resolution. The bonds issued may mature over a period not
exceeding forty (40) years from the date of issue.
(c) If the legislative body of the city approves the issuance of
bonds under IC 36-4-6-19, the board shall submit the resolution to
the executive of the city, who shall review the resolution. If the
executive approves the resolution, the board shall take all action
necessary to issue the bonds in accordance with the resolution. An
action to contest the validity of bonds issued under this section and
sold at a public sale may not be brought after the fifteenth day
following the receipt of bids for the bonds.
(d) The provisions of all general statutes relating to:
(1) the filing of a petition requesting the issuance of bonds and
giving notice;
(2) the right of:
(A) taxpayers and voters to remonstrate against the
issuance of bonds in the case of a proposed bond issue
described by IC 6-1.1-20-3.1(a); or
(B) voters to vote on the issuance of bonds in the case of a
proposed bond issue described by IC 6-1.1-20-3.5(a);
(3) the giving of notice of the determination to issue bonds;
(4) the giving of notice of a hearing on the appropriation of
the proceeds of bonds;
(5) the right of taxpayers to appear and be heard on the
proposed appropriation;
(6) the approval of the appropriation by the department of
local government finance; and
(7) the sale of bonds at a public sale for not less than par value
or at a negotiated sale;
are applicable to the issuance of bonds under this section.
Sec. 16. All money received from any bonds issued under this
chapter shall be applied solely to the payment of the construction
SEA 27 — Concur
69
cost of the capital improvement or capital improvements or the
cost of refunding or refinancing outstanding bonds or notes, for
which the bonds are issued. The cost may include:
(1) planning and development of the capital improvement and
all buildings, facilities, structures, and improvements related
to it;
(2) acquisition of a site and clearing and preparing the site for
construction;
(3) equipment, facilities, structures, and improvements that
are necessary or desirable to make the capital improvement
suitable for use and operation;
(4) architectural, engineering, consultant, and attorney's fees;
(5) incidental expenses in connection with the issuance and
sale of bonds;
(6) reserves for principal and interest and for operations,
extensions, replacements, renovations, and improvements;
(7) interest during construction;
(8) financial advisory fees;
(9) insurance during construction;
(10) municipal bond insurance; and
(11) in the case of refunding or refinancing, payment of the
principal of, redemption premiums, if any, for, and interest on
the bonds or notes being refunded or refinanced.
Sec. 17. Unless their rights are restricted by the appropriate
bond resolution, ordinance, or trust agreement, any holder of notes
or bonds issued under this chapter or a trustee under a trust
agreement entered into under this chapter may, by any suitable
form of legal proceeding, protect and enforce any rights provided
under statute or granted by the bond resolution, ordinance, or
trust agreement.
Sec. 18. All:
(1) property owned by the board;
(2) property leased to or by the board; and
(3) income and revenues received by the board;
are exempt from special assessments and taxation in Indiana for all
purposes.
Sec. 19. The board and the state, any department, agency, or
commission of the state, or any department, agency, or commission
of municipal or county government, may enter into agreements,
contracts, or leases with each other on the terms that are agreed
upon, providing for joint and cooperative planning, financing,
construction, operation, or maintenance of a capital improvement
SEA 27 — Concur
70
or of the buildings, facilities, structures, or improvements that are
necessary or desirable in connection with the use and operation of
a capital improvement.
Sec. 20. (a) In anticipation of funds to be received from any
source, the board may borrow money and issue notes for a term
not exceeding ten (10) years and at a rate or rates of interest
determined by the board. The notes shall be issued in the name of
the "northwest Indiana stadium board" and may be secured
(either on a parity with or junior and subordinate to any
outstanding bonds or notes) by:
(1) the pledge of income and revenues of any capital
improvement;
(2) the proceeds of excise taxes; or
(3) any other funds anticipated to be received.
The notes are payable solely from the income, excise taxes,
revenues, and anticipated funds.
(b) The financing may be negotiated directly by the board with
any bank, insurance company, savings association, or other
financial institution licensed to do business in Indiana upon the
terms and conditions that are agreed upon, except as specifically
provided in this section, and may be consummated without public
offering. The notes plus interest are exempt from taxation in
Indiana as provided for bonds in IC 6-8-5.
Sec. 21. A board established under this chapter may defend any
current or former member of the board or its officers, employees,
or agents in a claim or suit, at law or in equity, that arises from the
exercise of powers or the performance of duties or services for the
board or that arises from official acts as a member of the board.
The board may indemnify a person for any liability, cost, or
damages related to a claim or suit, including the payment of legal
fees. Before taking action authorized by this section, the board
must, by resolution, determine that the action or conduct in
question was taken, done, or omitted in good faith.
SECTION 30. An emergency is declared for this act.
SEA 27 — Concur
President of the Senate
President Pro Tempore
Speaker of the House of Representatives
Governor of the State of Indiana
Date: Time:
SEA 27 — ConcurEvery fact on this page links to its source, starting with the official bill record.