SB 516 IN

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Became Law

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.

• Brian Buchanan Republican · author
• Jeff Raatz Republican · author
• Danny Lopez Republican · sponsor

1. Jan 16, 2025 Authored by Senator Buchanan · upper
2. Jan 16, 2025 First reading: referred to Committee on Commerce and Technology · upper
3. Feb 6, 2025 Committee report: amend do pass adopted; reassigned to Committee on Appropriations · upper
4. Feb 6, 2025 Senator Ford J.D. added as coauthor · upper
5. Feb 13, 2025 Committee report: amend do pass, adopted · upper
6. Feb 13, 2025 Senator Randolph added as coauthor · upper
7. Feb 17, 2025 Amendment #1 (Goode) prevailed; voice vote · upper
8. Feb 17, 2025 Senator Raatz added as second author · upper
9. Feb 17, 2025 Second reading: amended, ordered engrossed · upper
10. Feb 20, 2025 Cosponsor: Representative Teshka · upper
11. Feb 21, 2025 Referred to the House · upper
12. Feb 20, 2025 House sponsor: Representative Lopez · upper
13. Feb 20, 2025 Third reading: passed; Roll Call 209: yeas 49, nays 0 · upper
14. Mar 3, 2025 First reading: referred to Committee on Ways and Means · lower
15. Mar 13, 2025 Representative O'Brien added as cosponsor · lower
16. Mar 27, 2025 Committee report: amend do pass, adopted · lower
17. Mar 31, 2025 Second reading: ordered engrossed · lower
18. Mar 31, 2025 Amendment #1 (DeLaney) failed; Roll Call 328: yeas 33, nays 57 · lower
19. Apr 1, 2025 Representative Porter added as cosponsor · lower
20. Apr 2, 2025 Returned to the Senate with amendments · lower
21. Apr 1, 2025 Third reading: passed; Roll Call 348: yeas 87, nays 4 · lower
22. Apr 7, 2025 Motion to concur filed · upper
23. Apr 15, 2025 Senator Alting added as coauthor · upper
24. Apr 16, 2025 Senate concurred with House amendments; Roll Call 467: yeas 41, nays 0 · upper
25. Apr 17, 2025 Signed by the President Pro Tempore · upper
26. Apr 22, 2025 Signed by the Speaker · lower
27. Apr 23, 2025 Signed by the President of the Senate · upper
28. May 1, 2025 Public Law 145 · upper
29. May 1, 2025 Signed by the Governor · executive