Senate Bill 165 Summary

• Adds definitions for job-related terms (full-time employee, full-time permanent job, new employee, retained employee, part-time job, temporary job, job creation incentive, and job creation incentive agreement) to Indiana economic development laws.

• Requires all records related to taxpayer-funded economic development incentives to be disclosed under Indiana's open records law, including cost analyses exceeding $25,000.

• Mandates the Indiana Economic Development Corporation (IEDC) to publish its annual job creation incentives and compliance report on both its website and the Indiana transparency portal, including aggregate uncollected or diverted state tax revenues from each incentive.

• Requires incentive recipients to submit annual compliance reports detailing jobs created or retained, employee wages, capital investments, and compliance with incentive agreements; IEDC must compile this data in its annual report.

• Establishes mandatory recapture provisions requiring recipients to repay incentives if they fail to make promised capital investments, create or retain promised jobs, or pay agreed-upon wages; requires tracking and reporting of all recapture efforts and outcomes.