HB1269: Indiana economic development corporation.

Legislative Summary

Indiana economic development corporation. Provides for appointment to the board of the Indiana economic development corporation (IEDC) of two nonvoting, advisory members who are members of the general assembly. Requires the IEDC, before purchasing land that exceeds 100 acres in a county, to first give notice to the county or municipality, or both, in which the land is located not later than 30 days before the closing date for the purchase. Specifies additional procedures that the IEDC must take when acquiring land. Requires the IEDC to establish a mechanism to track the impacts of economic development projects based on: (1) wages paid to employees; and (2) financial impacts to local governments. Sets forth the information required to be reported on the tracking mechanism, which must be updated quarterly and posted quarterly on the IEDC's transparency portal. Requires the IEDC to provide an annual report of the information reported on the tracking mechanism and other information related to economic development to the general assembly. Requires the IEDC to dedicate at least 5% of the funds appropriated to the IEDC for economic development purposes in state fiscal years 2026 and 2027 for economic development projects located in communities that meet specified criteria.