A BILL FOR AN ACT to amend the Indiana Code concerning economic development.

Plain English Breakdown

Checked against official source text during the last sync.

Rules for Companies Getting Economic Help from Indiana

This bill sets new rules that companies must follow to get tax breaks, grants, or loans from Indiana's economic development group.

What This Bill Does

• Adds new rules about how employers can use secret ballot votes and employee contact information when trying to stop unions.
• Requires the IEDC (Indiana Economic Development Corporation) to make a special agreement with companies that get help from them, so they can recover money if the company breaks the rules.
• Sets a time limit for this special agreement based on how much help the company got.
• Gives the IEDC power to look into reports of companies not following these new rules.
• Requires the IEDC to tell the attorney general about any findings of noncompliance so legal action can be taken.

Who It Names or Affects

• Companies that want tax breaks, grants, loans, or loan guarantees from Indiana's economic development group.
• The Indiana Economic Development Corporation (IEDC).

Terms To Know

Job creation incentive

A type of help given by the IEDC to companies in the form of tax credits, deductions, grants, loans, or loan guarantees.

Secret ballot election

An anonymous vote used by employees to decide if they want a union.

Limits and Unknowns

• The bill does not specify what happens after the special agreement period ends.
• It is unclear how this will affect companies that already have agreements with the IEDC.

Official Summary Text

A BILL FOR AN ACT to amend the Indiana Code concerning economic development.
Requirements for incentive recipient employers.

Current Bill Text

A BILL FOR AN ACT to amend the Indiana Code concerning economic development.

Requirements for incentive recipient employers.

Specifies additional conditions pertaining to the use of secret ballot elections in unionization efforts and employee personal contact information that an employer must comply with to be eligible to receive a tax credit, tax deduction, grant, loan, or loan guarantee (job creation incentive) from the Indiana economic development corporation (IEDC). Requires the IEDC to enter into a separate agreement with a recipient of a job creation incentive to recover the value of the job creation incentive if the recipient does not comply with the conditions added by the bill. Specifies the term of the separate agreement in relation to the value of the job creation incentive. Requires the IEDC to investigate reports of noncompliance with the conditions added by the bill during the period when the separate agreement is in effect and to provide those findings to the office of the attorney general for the initiation of proceedings for recovery of job creation incentives.