Update: On Monday, the full Senate approved Senate Resolution 24.

INDIANAPOLIS – On Thursday, State Senator Eddie Melton (D-Gary) presented a resolution concerning the future economic growth of Gary in the Senate Appropriations Committee. Senate Resolution (SR) 24 was approved unanimously by the committee.

SR 24 urges the Legislative Council to create a study committee to evaluate the underutilized economic resources in Gary, Indiana. Gary has had increased deficit and decreased revenues since the transition from industrial to residential taxpayers, a constitutional amendment instituting property tax caps, as well as declines in casino revenues and an increase in circuit breaker credits.

These many contributing factors have played a part in the city’s financial status. For example, one study from a State Board of Accounts audit found that the property tax caps had resulted in a 51 percent decrease in the city’s property tax levy, which makes the loss the largest of its kind in the state. By creating a study committee, the resolution aims to understand how to best utilize resources to benefit the City of Gary.

“The City of Gary is working to create a comprehensive economic plan to address the issues the city has been facing with the ultimate goal of positive economic growth,” Sen. Melton said. “In tandem with this study committee, the city will be able to use the information provided by the committee to look ahead to a more sustainable economic situation.”

Senate Resolution 24 will now move to the Senate floor where the entire body will consider its passage.