Sec. 17. (a) The development authority may establish a transit development district and may expand a district. Before establishing a transit development district, the development authority shall consult with the municipality in which the district will be located. To establish or expand a district the development authority must hold at least two (2) public hearings before establishing or expanding the district.

(b) A district must satisfy the following conditions:

(1) Only one (1) district may be established with regard to each train station or regular train stop.

(2) The district must be within a county that is a member or associate member of the development authority or a financially participating county under this chapter.

(3) The initial area of the district must not be more than five-tenths (0.5) of a square mile but the area may be expanded under subsection (c).

(4) The train station or regular train stop, including accompanying parking lots (if applicable), must be located within the area of the district.

(5) All parcels within the district must be contiguous.

The area of a district may include a tax area established under IC 36-7-14 before January 1, 2017.

(c) The development authority shall adopt a resolution to establish a district. The resolution must include:

(1) the termination date of the district in accordance with subsection (e); and

(2) findings by the development authority specifying that the conditions set forth in subsection (b) are satisfied.

A district may not be reduced in territory once established or expanded to be more than one (1) square mile. A district's territory may be expanded subject to the other conditions set forth in subsection (b). A district may be expanded only one (1) time under this chapter. The development authority shall transmit a copy of any resolution establishing or expanding a district to the budget director, who shall distribute it to the members of the budget committee.

(d) The date a district becomes established or an expansion of a district becomes effective may not be earlier than the date the budget committee reviews the establishment or expansion of the district.

(e) The establishment of a district does not provide the development authority with any powers or preempt any authority of a political subdivision having jurisdiction in the district concerning the regulation of property or its uses, including planning and zoning provisions of the political subdivision.

(f) A district terminates at the earlier of:

(1) the end of the year in which all financing obligations entered into under this chapter for a project within the district are satisfied; or

(2) June 30, 2047.

As added by P.L.248-2017, SEC.10.