Legislative ROI

Your 2023 Legislative Return on Investment

In this annual financial impact assessment, learn what the Indiana Chamber’s lobbying efforts at the Statehouse mean to your bottom line. The 2023 General Assembly saw the Chamber staunchly oppose an anti-business measure that would have cost the state billions of dollars in decreased pension returns. We also supported legislation to enhance the state’s business tax climate and economic development efforts and opposed potential obstacles in the employer/employee relationship. As always, the Chamber also advocated for and achieved public policy victories that will have a lasting positive impact on the state’s economy and residents. *Printable Document*

In total, the Chamber’s work yielded savings of $4.107 billion for Hoosier businesses OR $1,451 per employee. Specific savings are listed below by bill and subject matter, in total and per employee.

Business Savings

$4.107 billion or $1,451 per employee

Public Pension Investment Returns

Savings – business share of decreased pension returns (HB 1008): $1.93 billion; $682.92/employee
A defeated provision of this bill would have reduced investment returns for pension funds leading to increased business taxes.

Economic Development

Economic development and investment tax credits (HB 1001): $250 million; $88.32/employee
Housing infrastructure assistance funding (HB 1005, HB 1001): $75 million; $26.50/employee
Doubling of the manufacturing readiness grant (HB 1001): $40 million; $14.13/employee
Tax credit for investments in affordable housing (HB 1001): $4 million; $1.41/employee

Energy and Environment

Broaden efforts to remediate environmental impingements (SB 246): $128 million; $45.22/employee
Local funding for wind- and solar-ready communities (SB 390): $23 million; $8.13/employee
Defeated – Effort by EPA to takeover state air permitting program (SB 155): $20 million; $7.07/employee

Health Care & Employment Law

Defeated – Exorbitant fees on hospital revenues (SB 387): $350 million; $123.65/employee
Defeated – Increased unemployment benefits (SB 421): $199 million; $70.31/employee
Defeated – Expansion of mandated FMLA coverages (HB 1243, SB 364): $120 million; $42.40/employee
Defeated – $1 per month surcharge on every phone line (SB 1): $90 million; $31.80/employee
Defeated – Mandated overtime coverage (HB 1253): $75 million; $26.50/employee
Defeated – Excessive minimum wage increases (HB 1192, HB 1394, SB 366): $25 million; $8.83/employee
Defeated – Unjustified ambulance service rates (SB 275): $15 million; $5.30/employee

Tax and Public Finance

Savings resulting from paying down unfunded pension obligations (HB 1001): $211 million; $74.69/employee
Individual income tax reduction (HB 1001): $163 million; $57.59/employee
Savings from SALT cap workaround (SB 2): $100 million; $35.33/employee
Defeated – Digital advertising tax (HB 1517): $76 million; $26.85/employee
Savings resulting from changing R&D expensing rules (SB 419): $43 million; $15.19/employee
Defeated – Utility receipts tax on water utilities (HB 1645): $7 million; $2.47/employee

Workforce Development

Increased funding for adult education initiatives (HB 1001): $38 million; $13.43/employe
Employer training grants (HB 1001): $34 million; $12.01/employee
Creation of career advising grant program (HB 1002): $25 million; $8.83/employee
Investment in skills enhancement fund (HB 1001): $23 million; $8.13/employee
Enacted career scholarship accounts (HB 1002): $15 million; $5.30/employee
Workforce ready grants (HB 1001): $12 million; $4.24/employee
Investment in career accelerator fund (HB 1002): $10 million; $3.53/employee
Tax credit for employer provided childcare (HB 1001): $2.5 million; $0.88/employee

Total Savings for Indiana Businesses: $4.107 billion
Total Savings Per Employee: $1,451

10 employees = savings of $14,509
25 employees = savings of $36,274
50 employees = savings of $72,547
100 employees = savings of $145,095
200 employees = savings of $290,189
500 employees = savings of $725,473

Plus the Value of Critical Health Initiatives
Perhaps not as quantifiable but even more important are significant health measures that passed this year to increase mental health funding and crisis line access for struggling citizens. Furthermore, the Chamber supported implementing recommendations from the Governor’s Public Health Commission Report to ensure every Hoosier can access essential services. These efforts are critical for employers as all stakeholders must work together to help workers who are challenged by health circumstances, addiction and more.

IMPORTANT NOTES: Business impact calculations are based on fiscal impact estimates of the Legislative Services Agency, independent studies, other available data and research materials, and Indiana Chamber analysis. Business impact per employee is calculated by using the estimated number of employed non-government workers statewide in March 2023 (2,830,500).