1. (a) Before the corporation may designate territory within the jurisdiction of a city, town, or county, or within the jurisdiction of more than one (1) city, town, or county, as an innovation development district under this section, the board of the corporation established under IC 5-28-4 shall establish uniform policies and guidelines that the corporation must follow when notifying and collaborating with an executive, or, if applicable, executives, to designate territory within the jurisdiction of a city, town, or county as an innovation development district under this section. The corporation shall publish the uniform policies and procedures established under this subsection on the corporation's website.

2. (b) Subject to subsection (c) and section 12(a) of this chapter, after:

   1. (1) budget committee review; and

   2. (2) notifying and collaborating with the executive, or, if an innovation development district will include territory within the jurisdiction of more than one (1) city, town, or county, with the executives of each city, town, or county, in the manner provided under the policies and guidelines established under subsection (a);

      the corporation may designate territory within the jurisdiction of a city, town, or county, or territory within the jurisdiction of more than one (1) city, town, or county, as an innovation development district if the corporation determines that the designation will support economic growth and the total investment plan is an amount equal to or greater than seven hundred fifty million dollars ($750,000,000).

3. (c) Notwithstanding section 10(b) of this chapter, but subject to section 12(c) of this chapter, the corporation may designate territory that is located in an existing allocation area described in section 10(b) of this chapter as an innovation development district after:

   1. (1) budget committee review; and
   2. (2) obtaining consent from the executive, executives, or the board of any military base reuse authority, in the manner provided under the policies and guidelines established under subsection (a).
4. (d) The requirements in subsection (c) apply to all innovation development districts established under this chapter regardless of the total costs and benefits of the proposed investment of an innovation development district.

As added by P.L.135-2022, SEC.28. Amended by P.L.123-2024, SEC.17; P.L.213-2025, SEC.310; P.L.23-2026, SEC.289.