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Broden proposal to regulate job creation incentives moves to governor
Start Date: 3/27/2013Start Time: 12:00 AM
End Date: 3/28/2013End Time: 11:59 PM
Entry Description
INDIANAPOLIS—The House of Representatives unanimously passed a bill on Tuesday co-authored by State Senator John Broden (D-South Bend) to hold companies accountable for job creation efforts when accepting taxpayer-funded incentives.

“I am very glad to see the Indiana General Assembly moving forward on this jobs transparency proposal,” Sen. Broden said. “The passage of this bill is an important step toward ensuring that businesses are using Hoosier tax dollars appropriately in order to bolster employment.”

Senate Bill (SB) 162 would require corporations receiving incentives to submit an annual progress report to the Indiana Economic Development Corporation (IEDC). The report would include a list of performance goals, an expected amount of financial investment, the number of tax credits claimed, and the projected number of employees hired and amount of jobs actually created, as examined by an independent firm.

In addition, company incentive funds would be revoked if they did not hold up their end of the deal specified in the incentive contract. The IEDC would also be required to file an annual compliance report every year to include active incentive-receiving recipients since 2005.

SB 162 falls under a number of Senate Democrat proposals to promote transparency and accountability for entities receiving taxpayer-funded incentives

After unanimously passing out of the House of Representatives by a vote of 98-0, SB 162 now moves to the governor for final consideration. 

Sen. Broden represents Senate District 10, which includes the cities of South Bend and Mishawaka, and portions of Portage, Penn, Centre and Clay townships in St. Joseph County. For more information on Sen. Broden, visit www.IN.gov/s10.

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NOTE: A photo of Sen. John Broden can be downloaded at http://www.in.gov/legislative/senate_democrats/images/headshots/Broden.jpg

Contact Information:
Name: Elise Shrock-Mannies
Phone: 317-232-9496
Email: emannies@iga.in.gov
Sen. Broden
Entry Type:
Press Release
Entry Category:
  • Announcements
  • IN.gov Category:
  • Business & Agriculture
  • Agency Name
    Senate Democratic Caucus

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