A county executive, a municipal legislative body, or, in Marion County, the county fiscal body, may adopt an ordinance designating a geographic territory as an infrastructure development zone after:

1. (1) conducting a public hearing on the proposed ordinance;
2. (2) publishing notice of the public hearing in the manner prescribed by IC 5-3-1 ; and

3. (3) making the following findings:

   1. (A) Adequate eligible infrastructure is not available in the zone.

   2. (B) Providing a property tax exemption to a person for investing in eligible infrastructure in the zone will provide:

      1. (i) opportunities for increased natural gas usage, increased availability of broadband service, advanced services, and public water or wastewater service; and

      2. (ii) economic development benefits;

         in the zone.

As added by P.L.133-2013, SEC.1. Amended by P.L.91-2017, SEC.2.