Sec. 8. (a) A tax area must be established by resolution. A 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 additional professional sports development area fund established for the county. 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 thirty-two (32) years after the first allocation of covered taxes from the tax area. Covered taxes may not be collected in the tax area until after the earlier of June 30, 2021, or the date on which all the conditions set forth in this chapter are met.

(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 total amount of state revenue captured by the tax area may not exceed nine million five hundred thousand dollars ($9,500,000) per state fiscal year for not more than thirty-two (32) years after the first allocation of covered taxes from the tax area.

(d) 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.

(e) The department may adopt rules and guidelines to govern the allocation of covered taxes to a tax area and to adopt withholding requirements in the manner authorized under IC 6-3-4-8.

As added by P.L.109-2019, SEC.16.