1. A. A district may revise the base period that the district uses to determine its gross receipts tax increment. To initiate the process of revising its base period, a district board shall:

   1. (1) adopt a resolution declaring that intent; and
   2. (2) forward copies of the adopted resolution to the secretary of taxation and revenue, the secretary of finance and administration, the developer and the local governments that have dedicated a tax increment to the district.
2. B. The taxation and revenue department, the department of finance and administration, the developer and the local governments that have dedicated a tax increment to the district may submit written comments to the district with copies sent to the state board of finance for fifteen days after receiving a copy of a district board's resolution indicating the board's intent to revise the base period used to determine the district's gross receipts tax increment.

3. C. No more than forty-five days after adopting the resolution declaring the intent to revise the base period that the district uses to determine its gross receipts tax increment, the district board shall submit to the state board of finance and send copies to the developer and any local government that has dedicated a tax increment to the district:

   1. (1) a copy of the resolution;
   2. (2) all comments on the matter that the district received from the taxation and revenue department, the department of finance and administration, the developer and the local governments that have dedicated a tax increment to the district; and
   3. (3) any other related documentation.

History: Laws 2014, ch. 11, § 1; 2025, ch. 130, § 6.

ANNOTATIONS

The 2025 amendment, effective July 1, 2025, removed the definition of "developer" and clarified language in the section; deleted former Subsection D and substituted each occurrence of "year" with "period" throughout the section.