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Senate Bill 0163


Senate Bill 0163

ARCHIVE (2012)

Latest Information

 

DIGEST OF INTRODUCED BILL


Economic development incentive accountability. Adds various job and employee definitions to the Indiana economic development corporation (IEDC) laws. Requires all records related to taxpayer funded economic development incentives to be disclosed under the open records law. Requires the IEDC's annual job creation incentives and compliance report to be published on the Indiana transparency portal Internet web site. Requires the IEDC and the department of state revenue to compile information on all job creation incentives granted, including the aggregate amount of uncollected or diverted state tax revenues resulting from each incentive, and requires this information to be included as part of the IEDC's annual job creation incentives and compliance report. Requires the IEDC to recapture incentives from a recipient failing to make the level of capital investment, failing to create or retain the promised number of jobs, or paying less in wages than specified in the agreement. Requires the IEDC to compile information on all recapture activities and incentives recouped from unfulfilled commitments and to include the information
    Current Status:
     In Committee - first House
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