Senate Bill 352 Summary

• Redevelopment commissions, departments, and authorities are subject to state board of accounts audits and covered by public meeting, public records, and public works laws.

• Prohibits redevelopment commissions, authorities, departments, and related entities from owning, leasing, or holding single-family dwellings or condominium units after June 30, 2012.

• Treats ownership of more than 10% of a business entity as ownership status when determining pecuniary interest conflicts for commission members, advisors, and authority board members.

• Requires private business entities proposing capital improvements of at least $4,000,000 to agree to repay all related obligations by a specified date for the redevelopment commission or authority to finance the project.

• Makes the fiscal officer of the establishing unit the treasurer of redevelopment commissions; designates the Indianapolis controller as fiscal officer for Indianapolis redevelopment entities; requires redevelopment authority secretaries-treasurers to report quarterly to the establishing unit's fiscal officer.