(a) Except as provided in subsection (b), the city admissions tax equals twelve percent (12%) of the price for admission to any event described in section 2 of this chapter. If the fiscal body of the city adopts an ordinance under this subsection:
- (1) the fiscal body shall immediately send a certified copy of the ordinance to the commissioner of the department of state revenue; and
- (2) the tax applies to transactions after the last day of the month in which the ordinance is adopted, if the fiscal body adopts the ordinance on or before the fifteenth day of a month. If the fiscal body adopts the ordinance after the fifteenth day of a month, the tax applies to transactions after the last day of the month following the month in which the ordinance is adopted.
- (b) The amount collected from the city admissions tax imposed shall be distributed to the northwest Indiana stadium board or its designee. So long as there are any current or future obligations owed by the northwest Indiana stadium board to the northwest Indiana stadium authority created by IC 5-1-17.1 or any state agency pursuant to a lease or other agreement entered into between the northwest Indiana stadium board and the northwest Indiana stadium authority or any state agency under IC 5-1-17.1 , the northwest Indiana stadium board or its designee shall deposit the revenues received from the admissions tax imposed under subsection (a) in a special fund, which may be used only for the payment of the obligations described in this subsection.
As added by P.L.44-2026, SEC.20.