SB 494 / Chamber Supports in Part | HB 1172 and SB 516 / Chamber Supports | HB 1103 / Chamber Opposes
Several bills with economic ramifications were heard last week in their respective committees.
Senate Bill 494 introduces new qualification requirements for an Innovation Development District (IDD), like the Indiana Economic Development Corporation’s (IEDC) tool to attract massive capital investment projects. The bill was held in the Appropriations Committee, but the chairman and bill’s author, Sen. Ryan Mishler (R-Mishawaka), stated that the language would be amended into another bill.
The Chamber supports improvements to the IDD program, including state cooperation with local units and greater transparency. However, some provisions in the bill may result in restrictions that could chill the establishment and benefits of the program.
Senate Bill 516, authored by Sen. Brian Buchanan (R-Lebanon), is the Senate version of House Bill 1172, which would establish a state Office of Entrepreneurship and Innovation.
The Chamber testified in support of SB 516, which was heard in committee on Thursday, echoing the points we made in last week’s legislative update supporting HB 1172, authored by Rep. Jake Teshka (R-North Liberty). In short, establishing a tangible “front door” for entrepreneurs will streamline the many different steps an entrepreneur must take when launching a business and help young businesses grow and prosper in Indiana.
In related news, HB 1172 was passed out of the Ways and Means Committee on Thursday (22-1), which means it’s eligible for passage by the full House next week.
House Bill 1103, authored by first-term member Rep. Matt Commons (R-Williamsport), precludes any state agency – including the IEDC – from establishing a trade office in a country that is a foreign adversary (such countries include China, Venezuela, Cuba, Iran, North Korea and Russia).
The Chamber is opposed to the Legislature dictating when and where the Governor may establish trade relationships. Regardless, the bill was passed unanimously out of committee this week. No representative from Governor Braun’s administration testified during the hearing.
