# Indiana SB 516: Economic development. Indiana SB 516, Economic development., is a First Regular Session 124th General Assembly (2025) Senate bill sponsored by Brian Buchanan (Republican); status signed, last action 2025-05-01 (Signed by the Governor); PRIA reads it as touching household money (as of 2026-10-17). - Canonical: https://policyrisk.com/state-bill/IN-SB516-2025 - 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 516 - State: Indiana - Session: First Regular Session 124th General Assembly (2025) - Title: Economic development. - Status: signed - Chamber: Senate - Introduced: 2025-01-16 - Last action: 2025-05-01, Signed by the Governor - Sponsor: Brian Buchanan (Republican) - Cosponsors: 8 - Subjects: commerce and technology, appropriations, the house, ways and means - Touches household money: yes - Roll calls: 4 (210 yes, 61 no in all) - Economic provisions PRIA read: 4 ## 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. ## Bill overview: provisions PRIA read - New state office helps small businesses: benefit, low. 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 resou… - More oversight of state development projects: benefit, low. 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 holdin… - Limits on local development financing extensions: cost, low. 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 technolog… - Annual reporting for technology park businesses: cost, low. 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 inform… ## Sponsors and cosponsors - Sponsor: Brian Buchanan (Republican), Senate - Cosponsor: Danny Lopez (Republican), House - Cosponsor: Gregory Porter (Democratic), House - Cosponsor: J.D. Ford (Democratic), Senate - Cosponsor: Jake Teshka (Republican), House - Cosponsor: Jeff Raatz (Republican), Senate - Cosponsor: Lonnie Randolph (Democratic), Senate - Cosponsor: Ron Alting (Republican), Senate - Cosponsor: Timothy O'Brien (Republican), House ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2025-04-16 | Senate | Senate concurred with House amendments | pass | 41 | 0 | | | 2025-04-01 | House | Third reading: passed | pass | 87 | 4 | | | 2025-03-31 | House | Amendment #1 (DeLaney) failed | fail | 33 | 57 | | | 2025-02-20 | Senate | Third reading: passed | pass | 49 | 0 | | ## Actions (29) - 2025-05-01: Signed by the Governor (Senate) - 2025-05-01: Public Law 145 (Senate) - 2025-04-23: Signed by the President of the Senate (Senate) - 2025-04-22: Signed by the Speaker (House) - 2025-04-17: Signed by the President Pro Tempore (Senate) - 2025-04-16: Senate concurred with House amendments; Roll Call 467: yeas 41, nays 0 (Senate) - 2025-04-15: Senator Alting added as coauthor (Senate) - 2025-04-07: Motion to concur filed (Senate) - 2025-04-02: Returned to the Senate with amendments (House) - 2025-04-01: Third reading: passed; Roll Call 348: yeas 87, nays 4 (House) - 2025-04-01: Representative Porter added as cosponsor (House) - 2025-03-31: Amendment #1 (DeLaney) failed; Roll Call 328: yeas 33, nays 57 (House) - 2025-03-31: Second reading: ordered engrossed (House) - 2025-03-27: Committee report: amend do pass, adopted (House) - 2025-03-13: Representative O'Brien added as cosponsor (House) - 2025-03-03: First reading: referred to Committee on Ways and Means (House) - 2025-02-21: Referred to the House (Senate) - 2025-02-20: Third reading: passed; Roll Call 209: yeas 49, nays 0 (Senate) - 2025-02-20: House sponsor: Representative Lopez (Senate) - 2025-02-20: Cosponsor: Representative Teshka (Senate) - 2025-02-17: Second reading: amended, ordered engrossed (Senate) - 2025-02-17: Senator Raatz added as second author (Senate) - 2025-02-17: Amendment #1 (Goode) prevailed; voice vote (Senate) - 2025-02-13: Senator Randolph added as coauthor (Senate) - 2025-02-13: Committee report: amend do pass, adopted (Senate) - 2025-02-06: Senator Ford J.D. added as coauthor (Senate) - 2025-02-06: Committee report: amend do pass adopted; reassigned to Committee on Appropriations (Senate) - 2025-01-16: First reading: referred to Committee on Commerce and Technology (Senate) - 2025-01-16: Authored by Senator Buchanan (Senate) ## Bill text - Engrossed Senate Bill (H): [PDF](https://api.iga.in.gov/2025/bills/SB0516/versions/SB0516.04.ENGS?format=pdf) - Enrolled Senate Bill (S): [PDF](https://api.iga.in.gov/2025/bills/SB0516/versions/SB0516.06.ENRH?format=pdf) - Introduced Senate Bill (S): [PDF](https://api.iga.in.gov/2025/bills/SB0516/versions/SB0516.01.INTR?format=pdf) - Senate Bill (S): [PDF](https://api.iga.in.gov/2025/bills/SB0516/versions/SB0516.02.COMS?format=pdf), [PDF](https://api.iga.in.gov/2025/bills/SB0516/versions/SB0516.03.COMS?format=pdf), [PDF](https://api.iga.in.gov/2025/bills/SB0516/versions/SB0516.05.COMH?format=pdf) ## Related bills - SB 231: Various corrections matters. (signed) - SB 324: Criminal procedures. (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 - [Engrossed Senate Bill (H) (PDF)](https://api.iga.in.gov/2025/bills/SB0516/versions/SB0516.04.ENGS?format=pdf) - [Enrolled Senate Bill (S) (PDF)](https://api.iga.in.gov/2025/bills/SB0516/versions/SB0516.06.ENRH?format=pdf) - [Introduced Senate Bill (S) (PDF)](https://api.iga.in.gov/2025/bills/SB0516/versions/SB0516.01.INTR?format=pdf) - [Senate Bill (S) (PDF)](https://api.iga.in.gov/2025/bills/SB0516/versions/SB0516.02.COMS?format=pdf) - [Senate Bill (S) (PDF)](https://api.iga.in.gov/2025/bills/SB0516/versions/SB0516.03.COMS?format=pdf) - [Senate Bill (S) (PDF)](https://api.iga.in.gov/2025/bills/SB0516/versions/SB0516.05.COMH?format=pdf) ## Related - [SB 231: Various corrections matters.](https://policyrisk.com/state-bill/IN-SB231-2025) - [SB 324: Criminal procedures.](https://policyrisk.com/state-bill/IN-SB324-2025) - [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) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/IN-SB516-2025 (as of 2026-10-17).