1. (a) Except as provided in subsection (b), as used in this chapter, "gross retail incremental amount" means the remainder of:

   1. (1) the aggregate amount of state gross retail and use taxes that are remitted under IC 6-2.5 by businesses operating in a district during a state fiscal year; minus

   2. (2) the gross retail base period amount;

      as determined by the department of state revenue under section 14 of this chapter.

2. (b) For purposes of a district designated under section 12.1 of this chapter, "gross retail incremental amount" means seventy-five percent (75%) of the amount described in subsection (a).

As added by P.L.125-1998, SEC.6. Amended by P.L.224-2003, SEC.233.