The More I C.I.B.
Expect a comprehensive statewide proposal to be this Thursday regarding the Capital Improvement Board and its $35 million operational deficit.
Lawmakers are being tight lipped, but the proposal will be included in HB 1604 which created a similar like Capital Improvement Board in Ft. Wayne. Senator Luke Kenley says the proposal will not only address Marion County but also deal with funding issues from across Indiana.
Kenley says he can get support from other lawmakers by showing any state investment can be supported by an appropriate return on investment and by getting help for different communities he thinks lawmakers will buy into the program. It’s estimated that Downtown Indianapolis generates about $800 million in sales tax revenue for the state.
It’s still unclear how much the Colts and Pacers will contribute to shared costs of the facility.
Kenley would not say whether the plan includes expanding the downtown sports district to capture sales tax revenue from other parts of Marion County, but he did say the plan did not include expanding CIB membership to include representatives from other counties.
When asked about the upcoming plan, Governor Mitch Daniels said he is letting the process work and a plan is coming together. He also says the entire region has a stake in downtown Indianapolis.
As stated in a previous post, no lawmaker would comment on what was in the plan, but from what I’ve been able to gather today, it could include the following.
- An increase in the hotel/motel tax, ticket tax and car rental tax.
- A penny increase in the tax on sale of every 12 oz. of alcohol.
The Senate Appropriations Committee meets on Thursday at 9 a.m.
