Plain English Breakdown
The official source material does not provide specific details about the bill's effective date or any additional limitations beyond those explicitly stated.
Stopping Secret Deals in Economic Development
This bill stops Indiana's government and related groups from entering into economic development agreements with secret clauses after June 30, 2026.
What This Bill Does
- Prohibits the Indiana Economic Development Corporation, the state, any instrumentality of the state, or any other public authority, or any party negotiating on behalf of these entities, from entering into economic development agreements with secret clauses after June 30, 2026.
Who It Names or Affects
- The Indiana Economic Development Corporation
- The state and its instrumentalities
- Other public authorities
- Parties negotiating on behalf of these entities
Terms To Know
- Economic development agreement
- A contract or deal made to help grow the economy, like building new businesses or creating jobs.
- Nondisclosure agreements (NDAs)
- Contracts that stop people from sharing information about a project or deal.
Limits and Unknowns
- The bill only applies to future economic development agreements after June 30, 2026.
- It does not affect existing economic development agreements with secret clauses.