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House Bill 1003

House Bill 1003

ARCHIVE (2005)

Latest Information

DIGEST OF HB1003 (Updated February 7, 2005 5:29 pm - DI 84)

Economic development. Consolidates various provisions related to the Indiana economic development corporation (IEDC) into one article of the Indiana Code. Provides that the governor is the chairperson of the IEDC board. Reduces the membership of the IEDC board from 23 to 12 members. Specifies that when making appointments to the IEDC board, the governor shall appoint at least five members belonging to the same political party as the governor and at least three members who belong to a major political party other than the party of which the governor is a member. Abolishes the department of commerce, the 21st century research and technology fund board, the steel industry advisory commission, the enterprise zone board, the small business development corporation, the film commission, the business modernization and technology corporation, the Indiana economic development council, and the EDGE board. Transfers the duties and powers of these entities to the IEDC. Specifies that certain programs related to tourism, community development, and energy that are currently administered by the department of commerce shall be administered by the lieutenant governor. Repeals provisions related to functions of the department of commerce that are transferred to the IEDC. Eliminates the strategic development program and fund, the growth investment program (GRIP), and the local labor management grant program and fund. Specifies that a grant or loan from the 21st century research and technology fund may not be approved or recommended to the budget agency unless the grant or loan has received a positive recommendation from a peer review panel. Abolishes the office of tourism and community development and the office of energy policy, which were to take over certain duties of the department of commerce on July 1, 2005. Establishes the Indiana promotion fund. Provides that the fund consists of all private funding and donations received by the IEDC. Authorizes the IEDC to establish a nonprofit subsidiary to solicit and accept private sector funding. Provides that members of the IEDC board may not vote by proxy. Provides that the IEDC board and employees of the IEDC are under the jurisdiction of the state ethics commission and are subject to ethics rules that apply to the executive branch of state government. Allows the IEDC board to adopt additional ethics rules that are more stringent than those adopted by the state ethics commission. Requires the IEDC to adopt rules under the statutory rule adoption process. Authorizes the IEDC to adopt emergency rules. Specifies that in transferring appropriations from the department of commerce to the IEDC or the lieutenant government, the budget agency determines whether the appropriation to be transferred is related to economic development, community development, tourism, or energy. Provides that the IEDC's authority to hire employees and enter into contracts is subject to approval by the state budget agency. Requires the state board of accounts to examine the IEDC and its funds, accounts, and financial affairs. Specifies explicitly that the IEDC and the IEDC board are subject to the open door law and the public records law. Makes conforming changes.
Current Status:
Law Enacted
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