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Introduced Senate Bill (S)

DIGEST

Madison County food and beverage tax. Requires the revenue from the Madison County food and beverage tax to be deposited in a township development account (account) established within the current economic development project fund (fund) for each township in the county. Requires the tax revenue to be allocated and transferred to each account in proportion to the population of the township compared to the population of the county. Provides that the county council shall administer the fund and each account within the fund. Provides that the county council may adopt a resolution to disburse money from an account to be Madison County food and beverage tax. Requires the revenue from the Madison County food and beverage tax to be deposited in a township development account (account) established within the current economic development project fund (fund) for each township in the county. Requires the tax revenue to be allocated and transferred to each account in proportion to the population of the township compared to the population of the county. Provides that the county council shall administer the fund and each account within the fund. Provides that the county council may adopt a resolution to disburse money from an account to be used for projects that are either: (1) located within the township for which the account was established; or (2) located outside the township for which the account was established; if: (A) the county council determines that the project will directly benefit the residents of the township for which the account was established; and (B) the county council holds a public hearing on the adoption of the resolution. Provides that if a county jail is built, the county council may use money from the fund to service debt from the construction of the jail. Provides that the county commissioners, or a city, town, or school corporation that is located in the township for which the account was established, may apply to the county council for a disbursement of money from an account. Specifies the types of projects for which money in an account may be used. Removes obsolete provisions that apply to use of the tax revenue to fund a civic center, economic development projects, or a secure detention facility (there are no outstanding obligations for these projects). Makes conforming changes. ... View more