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IN SB0569
Bill
Status
1/15/2019
Primary Sponsor
Brian Buchanan
Click for details
AI Summary
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Indiana Economic Development Corporation (IEDC) must award grants from the Twenty-First Century Research and Technology Fund to entrepreneur and enterprise district boards in Lafayette and Fort Wayne by September 1 each fiscal year, upon application
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Maximum annual grant amount is $1,000,000 per city (Lafayette and Fort Wayne), with IEDC required to allocate $2,000,000 total from the fund each fiscal year through July 1, 2022
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Grant funds must be used 100% for programs supporting entrepreneurship, small business development, technology development, and innovation
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District boards may use grant money to reimburse costs incurred before the grant was awarded if attributable to eligible purposes
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If a district board does not apply for a grant in a fiscal year, the allocated amount may be redirected to other fund purposes including research capacity, technology transfer, and economic diversification
Legislative Description
Entrepreneur and enterprise district grants. Provides that the Indiana economic development corporation (IEDC) shall award a grant from the twenty-first century research and technology fund (fund) to a district board established in Lafayette or Fort Wayne by September 1 of a state fiscal year if the district board applies for a grant. Requires the IEDC to allocate amounts within the fund each state fiscal year for purposes of awarding a grant to a district board established in Lafayette or Fort Wayne.
Last Action
First reading: referred to Committee on Tax and Fiscal Policy
1/15/2019