Introduced 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 training 2000 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. Requires an entity to return or repay the amount demanded by the IEDC within 30 days. 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 training 2000 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. Requires an entity to return or repay the amount demanded by the IEDC within 30 days. 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 centralized debt collection program to recover the sum of all grants previously awarded to the entity. Provides that the IEDC is authorized to participate in the centralized debt collection 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. 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, beginning after June 30, 2018, the fiscal body of the municipality in which an enterprise zone is located may adopt an ordinance to renew an enterprise zone for a specified period. Amends the definition of "lender" under the capital access program to include an entity that is 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. Makes conforming changes. ... View more