1. (a) If an innovation development district is designated under section 9 of this chapter, the corporation shall send to the department of state revenue:

   1. (1) a certified copy of the designation of the innovation development district under section 9 of this chapter;
   2. (2) if an agreement is entered into under section 12 of this chapter, a certified copy of the agreement; and

   3. (3) a complete list of the employers and businesses that are paying for the services of individuals who are not employees in the innovation development district and the street names and the range of street numbers of each street in the innovation development district.

      The corporation shall update the list provided under subdivision (3) before July 1 of each year.

2. (b) Not later than sixty (60) days after receiving a copy of the designation of the innovation development district, the department of state revenue shall determine the gross retail base period amount and the income tax base period amount.

As added by P.L.135-2022, SEC.28. Amended by P.L.201-2023, SEC.277.