HB 1001 / Chamber Supports in Part Indiana’s updated state revenue forecast shows a shortfall of $403 million in the current fiscal year and a reduction of $1.97 billion over the next two fiscal years. Although revenue will continue to grow year over year, the pace of growth will fall far short of earlier projections. Slower job and wage [...]
SB 306 / Chamber Supports A bill that the Senate passed 49-0 is flying under everyone’s radar. With no new budget allocation, it makes a meaningful change to an existing statute that will produce (at minimum) a 6:1 return on the state’s investment. In 2022, the Indiana General Assembly established the film and media production tax credit, which offers [...]
The Work Opportunity Tax Credit (WOTC) is a federal tax credit for private, for-profit employers to encourage hiring jobseekers who traditionally have difficulty finding employment, such as some Hoosier Veteran groups, individuals who have utilized welfare programs, ex-felons, individuals with disabilities and certain groups of Hoosier youth. To submit your applications, complete and send your IRS Form 8850 and [...]
By Adam H. Berry, vice president of economic development and technology * PDF version available for printing * Indiana Chamber priorities in economic development and technology received a boost during the 2019 legislative session. In particular, progress was made in the areas of talent, place, capital and innovation. Talent: Hate Crimes Bill Bolsters Hoosier Hospitality Senate Bill 198 makes [...]
Senate Bill 563 – Economic Development Authored by Sen. Travis Holdman (R-Markle) Makes a variety of changes to tax policy and tax incentive programs intended to promote and enhance economic development. The major components are: (1) moving to a market-based sourcing method for income apportionment for service companies; (2) a small business innovation voucher program to assist in research; [...]
After a stellar 2017, the 2018 short legislation session has been more measured – largely based on the lack of desire to “open up the budget”. While some issues moved ahead as intended, several bold ideas have evolved into a study committee or tabled until next year. Below is a summary of where several key bills stand: The Regional [...]
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