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Legislation has been officially introduced that w9uld help the city of Indianapolis keep the Pacers here.

State Appropriations Chairman Ryan Mishler has introduced SB 7, which would help the Capital Improvement Board capture the new revenue that will be needed to make the necessary improvements to Bankers Life Fieldhouse which would, in turn, keep the Indiana Pacers in Indianapolis.

The legislation expands the professional sports development area and allows the city to capture more revenue, as well as extends the supplemental county rental car tax as well as the admissions tax through 2038, pending City-County Council approval.  The legislation also allows the CIB to capture additional revenue from the state in the form of a loan.

The city’s current deal with the Pacers expires in 2024.

This story will be updated.