Loading chat...
IN SB0314
Bill
AI Summary
-
Repeals the Indiana Twenty-First Century Research and Technology Fund and the law authorizing the Indiana Finance Authority to issue bonds for the fund
-
Requires the Indiana Economic Development Corporation to assign all debt instruments and convey all non-cash assets (company shares, partnership interests, options) from the fund to the state treasurer before July 1, 2013
-
Transfers remaining money in the fund at the end of fiscal year 2013 to the state general fund, with loan repayments and asset sale proceeds also deposited into the general fund
-
Authorizes the IEDC board (rather than the repealed fund board) to establish and administer a grant office to assist entities in obtaining federal, foundation, and other funding
-
Takes effect upon passage for emergency provisions and July 1, 2013 for fund repeal and related changes
Legislative Description
Twenty-first century research and technology fund.
Last Action
First reading: referred to Committee on Commerce and Economic Development & Technology
1/8/2013