As used in this chapter, "local income tax increment revenue" means the remainder of:

1. (1) the total amount of local income tax ( IC 6-3.6 ) paid by employees employed in the district with respect to wages and salary earned for work in the territory comprising the district for a particular calendar year; minus

2. (2) the local income tax base period amount;

   as determined by the department.

As added by P.L.248-2017, SEC.10.