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House Bill 1354


House Bill 1354

ARCHIVE (2000)

Latest Information

 

DIGEST OF HB1354 (Updated March 1, 2000 5:16 PM - DI 84)


EDGE credits. Provides that the economic development for a growing economy (EDGE) board may award an EDGE tax credit for a project located in Hamilton County to a nonprofit organization that is a high growth company with high skilled jobs if the organization meets certain requirements and if all of the following conditions are satisfied: (1) the wages of at least 75% of the organization's Indiana workforce must be equal to at least 200% of the average county wage in the county where the project will be located; (2) the organization must make an investment of at least $50,000,000 in capital assets; (3) the affected political subdivision must provide substantial financial assistance to the project; (4) the incremental payroll attributable to the project must be at least $10,000,000 annually; (5) the organization agrees to pay the ad valorem property taxes on the organization's real and personal property that would otherwise be exempt under IC 6-1.1-10; (6) the organization does not receive any deductions from the assessed value of the organization's real and personal property under IC 6-1.1-12 or IC 6-1.1- 12.1; and (7) the organization pays all of the organization's ad valorem property taxes to the taxing units in the taxing district in which the project is located.
Current Status:
 Law Enacted
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