Senate Bill 0487
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DIGEST OF SB 487 (Updated February 13, 2001 2:33 PM - DI 101)
EDGE credits. Allows a person who proposes a project intended to preserve jobs in Indiana to apply for an economic development for a growing economy (EDGE) tax credit. Allows the EDGE board to enter into an agreement for a tax credit with an applicant whose project will preserve jobs in Indiana. Requires the board to confirm the existence of certain conditions before entering into an agreement with the applicant for a tax credit. Requires an applicant for a credit to provide evidence, rather than verify, that at least one other state, nation, or unrelated out-of-state company is being considered for the project for which the credit application is made. Specifies that a credit may be granted only if the average wage paid by the applicant exceeds: (1) a percentage, determined by the EDGE board, of the average wage paid within the county in which the project will be located; or (2) a minimum livable wage determined for the county by the board.
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