2. Corporate accountability for state economic development incentives.
- Requires Indiana Economic Development Corporation (IEDC) and the Dept. of Revenue to compile and publish on the Indiana OpenGov website all economic development incentives and their fiscal impact, including the aggregate amount of uncollected or diverted state tax revenues resulting from each incentive. Also requires an annual report to the Indiana General Assembly.
- Requires IEDC to annually report the number of jobs created or retained,
employee pay, and other uses of the state incentive. This information will also be posted on the Indiana
OpenGov website and reported to the General Assembly. - Requires recapture of funds from businesses that receive state incentives but fail to make the level of capital investment, create the number of jobs, or pay less than wages specified in the agreement
- Requires IEDC to compile and publish on the Indiana OpenGov website all recapture activities and taxpayer
dollars recouped from unfulfilled economic development incentives. Also requires an annual report to the
Indiana General Assembly. - Requires all records related to taxpayer-funded economic development incentives to be subject to disclosure
under the state's Open Records Act.
Learn more:
1. One stop online public access to track taxpayer dollars in state budgets, spending and contracts.
3. Restrict "Pay to play" for fair competition in awarding state contracts.
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