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State DLGF bill delays income‑tax change and boosts Fishers' hotel‑tax receipts
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Summary
Staff said the Department of Local Government Finance bill defers a prior income‑tax change to 2029, preserves current distributions in the near term and reallocates part of a tourism tax to increase Fishers' annual Fishers Event Center debt payments by roughly $330,000.
Fishers finance and city staff briefed the council on provisions in the Department of Local Government Finance (DLGF) bill that will affect local revenues and spending priorities.
Finance staff told council that a previously planned change is delayed to 2029, giving the city more time to plan before any local income‑tax rate adjustments. "Instead of being effective in 2028, it's now gonna be effective in 2029," the finance staff said, noting the transition date shift.
The staff also outlined changes to a supplemental hotel‑tourism tax: a previously floating portion of the tax was divided among Hamilton County’s four major cities, increasing Fishers' share. Finance staff estimated Fishers will receive about $330,000 annually more in the future, with the additional funds earmarked for Fishers Event Center debt service.
Staff said the city will intend to resubmit an earlier road‑resurfacing grant application if the state opens a resubmittal; the larger road grant pool under a separate bill was discussed elsewhere in the meeting.
The council discussed implementation timelines and directed staff to track the revenue changes and the effect on debt‑service budgeting.
