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DIGEST OF SB165 (Updated January 19, 2000 3:09 pm - DI kc)
Economic development tax credit. Provides that the economic development for a growing economy ("EDGE") tax credit may be awarded under certain circumstances for the retention of jobs in Indiana. Provides that the credit may apply only to jobs in Indiana that would, without the granting of the credit, be relocated to another state. Requires an applicant to meet certain other conditions before the EDGE credit may be awarded. Requires the applicant to enter into a development agreement with the EDGE board. Requires the political subdivisions affected by the potential relocation of jobs to match at least one dollar of local incentives for every two dollars in EDGE credits.