| || |
DIGEST OF INTRODUCED BILL
Incentives compliance reporting. Requires state agencies to accept public comments that are sent electronically on proposed rules. 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. Provides that the IEDC's annual job creation incentives and compliance report (IEDC annual report) must be published on the expenditure 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 that this information be included in the IEDC annual 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 this information in the IEDC annual report. Requires incentive recipients to prepare annual progress reports on the number of jobs created or retained, employee pay, and various other information concerning the use of the job creation incentives, and requires the IEDC to compile this information and include it in the IEDC annual report. Repeals the definition of job creation incentive and replaces it without change to maintain alphabetical order. Makes technical corrections.