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IN HB1374
Bill
Status
1/17/2017
Primary Sponsor
Justin Moed
Click for details
AI Summary
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Indiana Economic Development Corporation (IEDC) must recapture incentives from recipients who fail to meet agreed-upon levels of capital investment, employment numbers, or wages specified in incentive agreements.
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Recipients of job creation incentives must file annual compliance reports with IEDC detailing their progress toward meeting agreement requirements.
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Employers with at least 100 employees must provide 90 days written notice to affected employees before plant closings and mass layoffs occurring after June 30, 2017.
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Employees may sue for back pay at the greater of average regular rate from three prior years or final regular rate, plus employee benefit plan costs and attorney's fees, if employers fail to provide required notice.
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Employers that violate notice requirements face Class C infractions (up to 90 days) when failing to notify the Department of Workforce Development, municipalities, or counties; applies to plant closings and mass layoffs affecting at least 20 employees.
Legislative Description
Economic development incentives. Requires the Indiana economic development corporation (IEDC) to recapture incentives from a recipient that: (1) makes a lower level of capital investment; (2) employs fewer individuals; or (3) pays less in wages; than specified in an incentive agreement. Requires employers with at least 100 employees to give 90 days written notice to affected employees before plant closings and mass layoffs that occur after June 30, 2017.
Last Action
First reading: referred to Committee on Commerce, Small Business and Economic Development
1/17/2017