Skip to main content

Enrolled House Bill (H)

Authored by

DIGEST

Economic development. Provides that, if the Indiana economic development corporation (IEDC) determines that a business, school corporation, or charter school (entity) that has received a grant award under the skills enhancement fund program is noncompliant with the terms of its grant agreement, the IEDC shall, after giving notice to the entity and an opportunity to explain the noncompliance, provide the entity with a written demand for return or repayment of an amount not to exceed the sum of all grants previously awarded to the entity. Provides that, if the entity fails to repay the IEDC, the IEDC may notify the Economic development. Provides that, if the Indiana economic development corporation (IEDC) determines that a business, school corporation, or charter school (entity) that has received a grant award under the skills enhancement fund program is noncompliant with the terms of its grant agreement, the IEDC shall, after giving notice to the entity and an opportunity to explain the noncompliance, provide the entity with a written demand for return or repayment of an amount not to exceed the sum of all grants previously awarded to the entity. Provides that, if the entity fails to repay the IEDC, the IEDC may notify the department of state revenue (department) of the noncompliance and request that the department exercise its authority under the department's refund set off program to recover the sum of all grants previously awarded to the entity. Provides that the IEDC is authorized to participate in the refund set off program. Provides for the expiration of provisions in the enterprise zone statute relating to the functions of the IEDC, and authorizes similar functions to be performed by: (1) the urban enterprise association (U.E.A.) in the enterprise zone; and (2) the fiscal body of the municipality in which the enterprise zone is located. Provides for the expiration of the provision that requires a zone business to pay a registration fee to the IEDC. Eliminates the enterprise zone fund. Provides that any money remaining in the fund after its expiration shall revert to the economic development fund. Retains provisions in current law that require each zone business that receives an incentive to assist the U.E.A. in the enterprise zone in an amount determined by the legislative body of the municipality (legislative body) in which the zone business is located. Provides that the legislative body may pass an ordinance disqualifying a zone business from eligibility for incentives if the zone business does not assist the U.E.A. Provides that the legislative body may, in certain circumstances, impose an additional fee that is equal to 1% of all the zone business's incentives. Authorizes the U.E.A. in an enterprise zone to do the following: (1) Adopt guidelines for the disqualification of a zone business. (2) Modify the boundaries of the enterprise zone. Provides that the board of the IEDC may not renew an enterprise zone during a phase out period after June 30, 2018. Provides that an enterprise zone that was not renewed under those provisions between January 1, 2017, and June 30, 2018, may be renewed for an additional five year period if the fiscal body of the municipality adopts a resolution to renew the enterprise zone for an additional five year period. Amends the definition of "lender" under the capital access program for the period beginning after June 30, 2018, and ending before July 1, 2021, to include: (1) a credit corporation; and (2) other specified entities that are approved as a lender by the IEDC in accordance with policy guidelines adopted by the board of the IEDC. Decreases the minimum premium charges payable to the reserve fund account for the capital access program from 1.5% to 1%. Repeals and replaces the definition of "disadvantaged business enterprise" used for purposes of determining the premium charges payable to a reserve fund account to incorporate the definition of "small disadvantaged business" under the federal regulation that applies to the United States Small Business Administration. Repeals the statute authorizing the department to carry out a centralized debt collection program for use by state agencies to collect delinquent amounts owed to state agencies. Makes conforming changes. ... View more