HEA 1332 Summary

• Establishes the Office of Small Business and Entrepreneurship, led by a director appointed by the lieutenant governor, effective May 1, 2014.

• Creates a small business ombudsman position to work with state agencies on enforcement flexibility, form consolidation, cost-benefit analyses, and resolution of small business compliance issues.

• Establishes the Young Entrepreneurs Program with annual auctions where communities and economic development organizations bid to locate young entrepreneurs' businesses, expiring December 31, 2016.

• Repeals five agricultural and community promotion programs (livestock shows, foreign market promotion, aquaculture, community promotion, and grain inspection) effective July 1, 2014.

• Transfers all powers, duties, records, and property related to the Indiana Small Business Development Center and Young Entrepreneurs Program from the Indiana Economic Development Corporation to the new office effective May 1, 2014.