Suddenly, I C.I.B.
I spent a good chunk of the day trying to get a feel on what Indiana lawmakers will unveil on Thursday with respect to the Capital Improvement Board and its multi-million dollar operations deficit. Here’s what I’ve been able to gather so far.
- There are a mix of options on the table, however user fees appear to be the funding mechanism of choice.
- All parties involved are expected to pitch in, the state, the city, the Colts and the Pacers. The question is exactly how much and in what form. Think of it as four people ordering dinner and they have to split the check four ways, but some just had the salad while others had the steak.
- Don’t be surprised that in order to get the rest of the Legislature to buy in, there’s some mechanism included so other cities and counties can pay for their economic development projects.
- I would not be surprised if that funding mechanism is an increase in the tax on alcohol that you purchase in grocery and liquor stores, but not at bars and taverns.
- I am being led to believe that the legislation will originate out of Senate Appropriations. There will be public testimony and a vote taken that day.
- Expect bi-partisan support on this one.
That’s what I’ve been able to gather so far. The situation is still fluid and the whole deal could still fall apart, which is why no one will comment on the record.
Stay tuned. Thursday could be a fun day or a total train wreck.
