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DIGEST OF HB1271 (Updated February 5, 2002 9:35 PM - DI 84)
Enterprise zones. Provides that the president of the Association of Indiana Enterprise Zones or an enterprise zone executive director designated by the president shall serve as a nonvoting, advisory member of the enterprise zone board. Provides that a person who resides in an enterprise zone and is an employee of an S corporation located in the enterprise zone is eligible for the qualified employee wage deduction. Allows a county or municipal redevelopment commission to sell or grant real property to an urban enterprise association (UEA) without a public bidding process if: (1) the UEA has incorporated as a nonprofit corporation; (2) the property to be conveyed is located entirely within the enterprise zone served by the UEA; and (3) the UEA agrees to develop the property within five years after the conveyance and in a manner consistent with the use of the other properties in the enterprise zone.
