# Indiana SB 347: Indiana economic development corporation.

Indiana SB 347, Indiana economic development corporation., is a First Regular Session 124th General Assembly (2025) Senate bill sponsored by Brian Buchanan (Republican); status failed, last action 2025-01-13 (First reading: referred to Committee on Tax and Fiscal Policy) (as of 2026-10-17).

- Canonical: https://policyrisk.com/state-bill/IN-SB347-2025
- As of: 2026-10-17
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Indiana SB 347
- State: Indiana
- Session: First Regular Session 124th General Assembly (2025)
- Title: Indiana economic development corporation.
- Status: failed
- Chamber: Senate
- Introduced: 2025-01-13
- Last action: 2025-01-13, First reading: referred to Committee on Tax and Fiscal Policy
- Sponsor: Brian Buchanan (Republican)
- Cosponsors: 0
- Subjects: tax and fiscal policy
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Allows the fiscal body of a county, city, or town to adopt an ordinance to require the Indiana economic development corporation (corporation) to make payments in lieu of taxes (PILOTS) with respect to real property that satisfies each of the following conditions: (1) The corporation is the owner of any real property that is exempt from property taxes. (2) The corporation has been the owner of such real property for at least one year on the date that an ordinance is adopted. Specifies that the assessed value of the real property subject to PILOTS is equal to the assessed value of the real property on the assessment date of the calendar year in which the corporation purchased the real property while the ordinance is in effect. 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. Continuously appropriates from the state general fund the amount necessary for the corporation to pay the required PILOTS.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Brian Buchanan (Republican), Senate

## Actions (2)

- 2025-01-13: First reading: referred to Committee on Tax and Fiscal Policy (Senate)
- 2025-01-13: Authored by Senator Buchanan (Senate)

## Bill text

- Introduced Senate Bill (S): [PDF](https://api.iga.in.gov/2025/bills/SB0347/versions/SB0347.01.INTR?format=pdf)

## Related bills

- SB 324: Criminal procedures. (signed)
- SB 231: Various corrections matters. (signed)
- SB 80: Code publication. (signed)
- SB 453: Various tax matters. (signed)
- SB 464: Financial institutions and consumer credit. (signed)
- SB 371: Workforce matters. (signed)

## Sources
- [Introduced Senate Bill (S) (PDF)](https://api.iga.in.gov/2025/bills/SB0347/versions/SB0347.01.INTR?format=pdf)

## Related
- [SB 324: Criminal procedures.](https://policyrisk.com/state-bill/IN-SB324-2025)
- [SB 231: Various corrections matters.](https://policyrisk.com/state-bill/IN-SB231-2025)
- [SB 80: Code publication.](https://policyrisk.com/state-bill/IN-SB80-2025)
- [SB 453: Various tax matters.](https://policyrisk.com/state-bill/IN-SB453-2025)
- [SB 464: Financial institutions and consumer credit.](https://policyrisk.com/state-bill/IN-SB464-2025)
- [SB 371: Workforce matters.](https://policyrisk.com/state-bill/IN-SB371-2025)
- [Indiana bills](https://policyrisk.com/states/indiana/bills)
- [Indiana state hub](https://policyrisk.com/states/indiana)
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Source: PRIA, https://policyrisk.com/state-bill/IN-SB347-2025 (as of 2026-10-17).