IN SB0336

Requires all Indiana Economic Development Corporation (IEDC) contracts to be reviewed and approved by the attorney general, including agreements related to loans, grants, and other incentives

Establishes a fiduciary standard requiring the IEDC board to act with the care, skill, prudence, and diligence of a prudent person when making or approving grants, loans, loan guarantees, or tax credits

Imposes a 4:1 matching requirement for grants or loans from the Twenty-First Century Research and Technology Fund, requiring applicants to provide at least $4 of private capital for every $1 received from the fund

Requires the IEDC board to review and verify that financing resources committed by applicants and other entities are likely to be available for funded projects

Authorizes the board to require applicants to post bonds or establish escrow accounts to ensure committed financing resources will actually be available