1. (a) Not later than October 1 of the calendar year immediately following the designation date of the stadium development district, the department of state revenue shall set the gross retail base period amount and the income tax base period amount. The department of state revenue may request any information necessary from the executive or the board to determine the gross retail base period amount and the income tax base period amount. Not later than ten (10) days after a request from the department of state revenue, the executive and the board shall provide the necessary information.
2. (b) Revenue collected under the state adjusted gross income taxes and state gross retail and use taxes may not be allocated under this section before January 1 of the year immediately following the year in which the gross retail base period amount and the income tax base period amount are determined under subsection (a).
3. (c) Before the first business day in October of each year, the department of state revenue shall calculate the income tax incremental amount and the gross retail incremental amount for the preceding state fiscal year for the stadium development district designated under this chapter.
4. (d) Taxpayers operating in the stadium development district shall report annually, in the manner and form prescribed by the department of state revenue, information that the department of state revenue determines necessary to calculate the net increment.
5. (e) A taxpayer operating in the stadium development district that files a consolidated tax return with the department of state revenue shall also file annually an informational return with the department of state revenue for each business location of the taxpayer within the stadium development district.
6. (f) If a taxpayer fails to report the information required by this section or file an informational return required by this section, the department of state revenue shall use the best information available in calculating the income tax incremental amount and gross retail incremental amount.
7. (g) The department of state revenue shall transfer the amount calculated as provided in subsection (c) to the stadium development district fund established for the stadium development district under section 27 of this chapter by November 1 of each year.

As added by P.L.44-2026, SEC.27.