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Council flagged by county auditor: EDIT capital plan set to expire, could sequester funds if not updated
Summary
The county—s economic development income tax (EDIT) capital plan expires Dec. 31, 2025. County counsel and auditor told council that, without a plan meeting statute (two years and 75% of projected EDIT revenue), the treasurer must hold future EDIT receipts in a separate account and funds could revert to other taxing units after three years.
Monroe County Council spent a significant portion of its Nov. 18 meeting debating the status of the county—s economic development income tax (EDIT) capital improvement plan after the auditor—s office circulated a notice that the plan approved three years ago expires Dec. 31, 2025.
The issue: An email from county staff alerted council to an EDIT plan that, under Indiana law, must describe projects, costs, funding sources and timelines and must account for 75% of expected EDIT revenue over at least a two‑year horizon. Counsel and the county auditor said that if the county has no adopted plan for a year, the treasurer is required to retain EDIT distributions in a…
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