Section 6-9-2.5-7.7 - Convention center operating, capital improvement, and financial incentive fund(a) As used in this section, "fund" refers to the convention center operating, capital improvement, and financial incentive fund established under subsection (b).(b) The county treasurer shall establish a convention center operating, capital improvement, and financial incentive fund.(c) Before January 1, 2026, the county treasurer shall deposit in the fund the amount of money received under section 6 of this chapter that is generated by a two percent (2%) rate.(d) After December 31, 2025, the county treasurer shall deposit in the fund the amount of money received under section 6 of this chapter that is generated by a one percent (1%) rate.(e) Money in the fund may be expended only for the following:(1) Operating expenses of a convention center located in the county.(2) Capital improvements to a convention center located in the county.(3) Financial incentives to attract, promote, or encourage new business conventions, trade shows, or special events held at a convention center located in the county.(f) A financial incentive described in subsection (e)(3) may not be distributed to a new business for at least thirty (30) days after the conclusion of a convention, trade show, or special event that is held by the new business at a convention center located in the county.Amended by P.L. 290-2019,SEC. 4, eff. 7/1/2019.Amended by P.L. 190-2014, SEC. 29, eff. 7/1/2014.As added by P.L. 208-1999, SEC.3. Amended by P.L. 168-2005, SEC.10; P.L. 176-2009, SEC.7.