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House Bill 1409


House Bill 1409

ARCHIVE (2005)

Latest Information

 

DIGEST OF HB1409 (Updated February 21, 2005 5:56 pm - DI 84)


EDGE credit. Provides that an applicant may not obtain an economic development for a growing economy (EDGE) tax credit to retain existing jobs in Indiana unless the average compensation paid to the applicant's employees exceeds the lesser of the average county wage or the average state wage. Removes requirement that an applicant provide evidence of a competing job site. Reduces the number of employees the applicant must employ from 200 to 75. Changes the minimum ratio of local incentives to EDGE credits from $1.50 per $3 of EDGE credits to $1 per $2 of EDGE credits. Requires the EDGE board to consider, in determining the amount of an EDGE credit, the average wage paid by the applicant (rather than the amount by which this average wage exceeds the average county wage).
Current Status:
 Passed 2nd reading - first House
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