Rate of tax; allocation and distribution
Sec. 2. (a) Except as provided in subsection (b), the county
admissions tax equals five percent (5%) of the price for admission to
any event described in section 1 of this chapter.
(b) On or before June 30, 2005, the city-county council may, by
ordinance adopted by a majority of the members elected to the
city-county council, increase the county admissions tax from five
percent (5%) to six percent (6%) of the price for admission to any
event described in section 1 of this chapter.
(c) The amount collected from that portion of the county
admissions tax imposed under:
(1) subsection (a) and collected after December 31, 2027; and
(2) subsection (b);
shall be distributed to the capital improvement board of managers or
its designee. So long as there are any current or future obligations
owed by the capital improvement board of managers to the Indiana
stadium and convention building authority created by IC 5-1-17 or
any state agency pursuant to a lease or other agreement entered into
between the capital improvement board of managers and the Indiana
stadium and convention building authority or any state agency under
IC 5-1-17-26, the capital improvement board of managers or its
designee shall deposit the revenues received from that portion of the
county admissions tax imposed under subsection (b) in a special
fund, which may be used only for the payment of the obligations
described in this subsection.
As added by Acts 1981, P.L.99, SEC.2. Amended by
P.L.256-1997(ss), SEC.4; P.L.214-2005, SEC.33.
Last modified: May 28, 2006