DIGEST OF INTRODUCED BILL
Various economic development matters. Requires the Indiana economic development corporation (IEDC) to biennially review state and local economic development incentives to determine whether: (1) small businesses are eligible for the incentives; (2) small businesses can easily access and participate in the incentives; and (3) any incentives should be modified to make small businesses eligible for the incentives. Requires the IEDC to biennially submit a report to the legislative council. Requires the IEDC to conduct at least one public hearing to receive comments from owners and employees of small businesses. Authorizes the IEDC to: (1) solicit information and comments from small business owners and other individuals and entities; and (2) pay travel expenses, per diem, and expert witness fees. Reduces new employer contribution rates to the unemployment compensation system from 2.7% to 1% when the unemployment insurance benefit fund reaches a specified reserve amount. Repeals the December 31, 2011, expiration date for the Hoosier business investment tax credit.