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IN SB0023
Bill
Status
1/6/2015
Primary Sponsor
Lonnie Randolph
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AI Summary
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Renames the "economic incentives and compliance report" to the "job creation incentives and compliance report" and requires annual submission to the governor and legislative council.
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Requires incentive recipients to submit annual compliance reports by January 15 each year detailing jobs created/retained, employee wages, occupations, and compliance with agreement terms.
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Adds definitions for full-time employee, full-time permanent job, new employee, part-time job, retained employee, temporary job, and job creation incentive agreement to Indiana economic development corporation laws.
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Makes all information from incentive recipient compliance reports publicly available under Indiana's open records law (IC 5-14-3), with exemptions only for confidential application information.
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Effective July 1, 2015; includes enforcement provision suspending all current job creation incentives for recipients who fail to file required compliance reports until proof of compliance is received.
Legislative Description
Economic development incentive accountability. Economic development incentive accountability. Renames the annual "economic incentives and compliance report" in current law to the "job creation incentives and compliance report" (report). Adds various job and employee definitions to the Indiana economic development corporation (IEDC) laws. Requires an incentive recipient to submit an annual compliance report on the number of jobs created or retained, employee pay, and various other information concerning the use of the incentives, and requires the IEDC to compile this information and include it in the IEDC's annual report. Provides that information submitted in an incentive recipient's annual compliance report and
Last Action
First Reading: referred to Committee on Tax & Fiscal Policy
1/6/2015