The Geist Conservancy District legislation has cleared the last hurdle with lawmakers at the Indiana Statehouse. State Representative and Speaker-elect Todd Huston tells LarryInFishers.com that the measure creating the conservancy district has now passed the House and Senate and is on the way to Governor Holcomb’s desk where he is expected to sign the bill.
A conservancy district would have the legal authority to tax property owners and impose fees in the area of Geist Lake in order to do required maintenance on the reservoir.
On the deal reached between Fishers and Carmel officials over the County Option Income Tax (COIT) distribution, Huston says that measure is still moving through the legislative process and he is not anticipating any changes, but cautions that the process is not yet officially done.
Fishers Mayor Scott Fadness said the deal reached with Carmel calls for a revised COIT distribution formula that will add $15 million to $18 million in additional COIT funds to Fishers over three years, but that increase is tied to a rise in COIT tax collections of 2.5 percent each year. In other words, presuming a strong economy continues locally, Fishers will receive the extra funds.
According to Fadness, after that initial three-year period, Fishers would receive $4 million to $6 million in additional money per year from COIT, but that would once again rely on continued COIT tax collection growth in the coming years.
The 2020 short session of the General Assembly is scheduled to end in a few days.