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House Bill 1466


House Bill 1466

ARCHIVE (2011)

Latest Information

 

DIGEST OF INTRODUCED BILL


Economic development and state tax matters. Makes the following changes to economic development programs and income tax provisions: (1) Makes the economic development study committee a four year committee that expires December 31, 2014, with a membership including legislative and nonlegislative members. Requires the study committee to determine methods for eliminating or reducing the personal property tax statewide and the appropriateness of allowing local government the option of eliminating or abating personal property tax for new investment and economic development purposes. (2) Requires the Indiana economic development corporation (IEDC) to collaborate with local economic development organizations and submit an annual report to the study committee regarding collaboration. (3) Requires the state board of education, the commission for higher education, and the department of workforce development to work together to develop entrepreneurship education programs for elementary and secondary education, higher education, and individuals in the work force. (4) Requires the IEDC to conduct a statewide study to determine specific economic sectors that should be emphasized by the state and by local economic development organizations within geographic regions in Indiana. (5) Makes the following changes regarding the capital access program: (A) Requires a loan applicant to form a volunteer peer review panel that is approved by the executive director of a certified technology park and the Indiana economic development corporation (IEDC). Requires the panel to approve an applicant's business plan before a loan may be granted. Requires periodic peer review of the borrower's business operations
Current Status:
 In Committee - first House
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