IN SB0325

Establishes Indiana Gaming Commission authority to oversee and approve local development agreements between gaming entities and units of government for economic development commitments.

Requires all development agreements to include mandatory language acknowledging the commission's authority to disapprove agreements, verify payments, and ensure compliance with agreement purposes.

Mandates annual reporting by development providers and specified recipients to the commission detailing economic development payment amounts, recipients, and disbursements to other entities.

Prohibits for-profit entities from serving as parties or specified recipients in development agreements and requires nonprofit recipients to maintain conflict of interest statements and bylaws.

Requires economic development payments be deposited into separate, segregated bank accounts at Indiana-based FDIC-insured banks within five days of receipt.