IndianaSB 516First Regular Session 124th General Assembly (2025)SenateWALLET

Economic development.

Sponsored By: Brian Buchanan (Republican)

Signed by Governor

Summary

Establishes the office of entrepreneurship and innovation (office). Specifies the duties of the office. Transfers oversight responsibilities of certified technology parks from the Indiana economic development corporation (IEDC) to the office. 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. Provides that before the IEDC may purchase land in a county that in total exceeds 100 acres whether acquired in one transaction or a series of transactions, the IEDC must first give notice, in writing, to the board of county commissioners of the county in which the land is located (and to the mayor of a city if the land is located within a city) not later than 30 days before the closing date for the purchase or purchases. Requires the IEDC to provide to the budget committee a copy of the notice being provided to the local unit in which certain land is being purchased. Provides that if the IEDC extends an offer to one or more voting or nonvoting members of the budget committee to tour a potential economic development site that may receive state assistance in undertaking the project, the IEDC shall simultaneously extend the same offer to all voting and nonvoting members of the budget committee. Requires the governor to appoint the president of the IEDC, who shall serve at the pleasure of the governor and report to the secretary of commerce. (Under current law, the secretary of commerce is the president of the IEDC.) Repeals the statute that expires the central Indiana regional development authority.

commerce and technologyappropriationsthe houseways and means

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 2 benefits, 2 costs, 0 mixed.

New state office helps small businesses

Beginning July 1, 2025, Indiana's new Office of Entrepreneurship and Innovation develops and runs programs supporting small businesses and entrepreneurs. It also supports innovation and youth entrepreneurship, coordinates state services, and helps entrepreneurs find learning opportunities and resources. It works with funded groups to reach rural and other underrepresented communities and measure that outreach. The law sets no individual payment amounts or eligibility rules.

More oversight of state development projects

The Indiana Economic Development Corporation must offer project tours to all voting and nonvoting budget committee members at the same time. This applies when it offers any member a tour of a project that may receive state aid. Beginning July 1, 2025, land purchases bringing its total county holdings above 100 acres require advance notice. County commissioners must receive written notice at least 30 days before closing, along with the mayor for land within a city. The budget committee must receive a copy at the same time.

Limits on local development financing extensions

Beginning July 1, 2025, local governments face a limit on extending certified technology park tax allocation areas. The limit applies when territory in an existing allocation area later becomes an innovation development district. The allocation area cannot be renewed or extended under the technology park rules until the district's term ends.

Annual reporting for technology park businesses

Beginning July 1, 2025, taxpayers operating in certified technology parks must report information each year to calculate tax revenue increases. Reports go to Indiana's Department of Revenue and state economic development office. Taxpayers filing consolidated returns must also file a separate information return with the department for each business location in the park. They must send copies to the office. This reporting rule does not itself change tax rates or amounts owed.

Sponsors & Cosponsors

Sponsor

  • Brian Buchanan

    Republican • Senate

Cosponsors

  • Danny Lopez

    Republican • House

  • Gregory Porter

    Democratic • House

  • J.D. Ford

    Democratic • Senate

  • Jake Teshka

    Republican • House

  • Jeff Raatz

    Republican • Senate

  • Lonnie Randolph

    Democratic • Senate

  • Ron Alting

    Republican • Senate

  • Timothy O'Brien

    Republican • House

Roll Call Votes

All Roll Calls

Yes: 210 • No: 61

Senate vote • 4/16/2025

Senate concurred with House amendments

Yes: 41 • No: 0

House vote • 4/1/2025

Third reading: passed

Yes: 87 • No: 4

House vote • 3/31/2025

Amendment #1 (DeLaney) failed

Yes: 33 • No: 57

Senate vote • 2/20/2025

Third reading: passed

Yes: 49 • No: 0

Actions Timeline

  1. Signed by the Governor

    5/1/2025Senate
  2. Public Law 145

    5/1/2025Senate
  3. Signed by the President of the Senate

    4/23/2025Senate
  4. Signed by the Speaker

    4/22/2025House
  5. Signed by the President Pro Tempore

    4/17/2025Senate
  6. Senate concurred with House amendments; Roll Call 467: yeas 41, nays 0

    4/16/2025Senate
  7. Senator Alting added as coauthor

    4/15/2025Senate
  8. Motion to concur filed

    4/7/2025Senate
  9. Returned to the Senate with amendments

    4/2/2025House
  10. Third reading: passed; Roll Call 348: yeas 87, nays 4

    4/1/2025House
  11. Representative Porter added as cosponsor

    4/1/2025House
  12. Amendment #1 (DeLaney) failed; Roll Call 328: yeas 33, nays 57

    3/31/2025House
  13. Second reading: ordered engrossed

    3/31/2025House
  14. Committee report: amend do pass, adopted

    3/27/2025House
  15. Representative O'Brien added as cosponsor

    3/13/2025House
  16. First reading: referred to Committee on Ways and Means

    3/3/2025House
  17. Referred to the House

    2/21/2025Senate
  18. Third reading: passed; Roll Call 209: yeas 49, nays 0

    2/20/2025Senate
  19. House sponsor: Representative Lopez

    2/20/2025Senate
  20. Cosponsor: Representative Teshka

    2/20/2025Senate
  21. Second reading: amended, ordered engrossed

    2/17/2025Senate
  22. Senator Raatz added as second author

    2/17/2025Senate
  23. Amendment #1 (Goode) prevailed; voice vote

    2/17/2025Senate
  24. Senator Randolph added as coauthor

    2/13/2025Senate
  25. Committee report: amend do pass, adopted

    2/13/2025Senate

Bill Text

  • Engrossed Senate Bill (H)

  • Enrolled Senate Bill (S)

  • Introduced Senate Bill (S)

  • Senate Bill (S)

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