Tax hikes proposed to fund Indy stadium agency

June 4, 2009 9:41:51 AM PDT
Indiana Gov. Mitch Daniels is proposing raising hotel, rental car and admission taxes in Indianapolis to help fund the city's cash-strapped stadium agency.

Daniels and Indianapolis Mayor Greg Ballard said Thursday the tax hikes would raise $20 million in additional revenue for the Capital Improvement Board, which would merge with another Marion County entity.

Daniels says the proposal would resolve the agency's $47 million budget gap that emerged after it started running the new Lucas Oil Stadium. Tax increases need the approval of state legislators, who will begin a special session next week.

The proposal also includes $13 million in savings by merging the agency with the Marion County Building Authority and boosting venue efficiencies.