State lawmakers are considering turning the state into a giant tax increment financing district, which they believe will help make the state more competitive in attracting more business and economic development.
IndyPolitics reports that the bill written to create that says the state could not only create economic development districts without local approval.
The legislation would also then capture the growth in local income, sales, and property taxes and then take those funds and spend them anywhere else in Indiana.
It has passed the Senate and will be reviewed by the House Ways and Means Committee
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Yet another case of the State taking tax money out of local economies and then handing it back to the municipalities with strings attached. It’s a terrible idea when the Feds to that to the states with the grant programs, and it’s just as bad when the State does it to the municipalities.
Leave local government local.