IC 36-7-32.5-4 : "Gross retail base period amount"

Sec. 4. As used in this chapter, "gross retail base period amount" means the aggregate amount of state gross retail and use taxes remitted under IC 6-2.5 by the businesses:

(1) operating in the territory comprising an innovation development district; and

(2) that is, in the case of the:

(A) state gross retail tax, collected by a business for sales occurring at a physical location of the business in the innovation development district; and

(B) state use tax, incurred with regard to property used in the innovation development district;

during the full state fiscal year that precedes the date on which the innovation development district was designated under section 9 of this chapter.

As added by P.L.135-2022, SEC.28.