SB 516: Economic development.

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Establishes the office of entrepreneurship and innovation (office). Specifies the duties of the office. Transfers oversight responsibilities of certified technology parks from the Indiana economic development corporation (IEDC) to the office. Provides for the submission of an annual report of the activities of an innovation development district as to financial information pertaining to tax increment financing districts in an innovation development district to the: (1) fiscal body of the county, city, or town; and (2) department of local government finance. Provides that before the IEDC may purchase land in a county that in total exceeds 100 acres whether acquired in one transaction or a series of transactions, the IEDC must first give notice, in writing, to the board of county commissioners of the county in which the land is located (and to the mayor of a city if the land is located within a city) not later than 30 days before the closing date for the purchase or purchases. Requires the IEDC to provide to the budget committee a copy of the notice being provided to the local unit in which certain land is being purchased. Provides that if the IEDC extends an offer to one or more voting or nonvoting members of the budget committee to tour a potential economic development site that may receive state assistance in undertaking the project, the IEDC shall simultaneously extend the same offer to all voting and nonvoting members of the budget committee. Requires the governor to appoint the president of the IEDC, who shall serve at the pleasure of the governor and report to the secretary of commerce. (Under current law, the secretary of commerce is the president of the IEDC.) Repeals the statute that expires the central Indiana regional development authority.

Sponsors

Sponsors by party (alphabetical): Democratic 3 · Republican 6

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. May 1, 2025Signed by the Governor
2. May 1, 2025Public Law 145
3. April 23, 2025Signed by the President of the Senate
4. April 22, 2025Signed by the Speaker
5. April 17, 2025Signed by the President Pro Tempore
6. April 16, 2025Senate concurred with House amendments; Roll Call 467: yeas 41, nays 0
7. April 15, 2025Senator Alting added as coauthor
8. April 7, 2025Motion to concur filed
9. April 2, 2025Returned to the Senate with amendments
10. April 1, 2025Third reading: passed; Roll Call 348: yeas 87, nays 4
11. April 1, 2025Representative Porter added as cosponsor
12. March 31, 2025Amendment #1 (DeLaney) failed; Roll Call 328: yeas 33, nays 57

Showing 12 most recent of 29 actions. Full history