SB 350 – Central Indiana Regional Development Authority
Authored by Sen. Travis Holdman (R-Markle)
Sponsored by Rep. Timothy Brown (R-Crawfordsville)
Authorize counties and municipalities within the Indianapolis metropolitan area to establish a central Indiana regional development authority pilot that will sunset on July 1, 2025. Requires counties and municipalities that wish to establish the development authority to adopt substantially similar resolutions to adopt a preliminary strategic economic development plan. Provides that the development authority shall be governed by a strategy committee composed of members selected according to the terms of the preliminary development plan adopted to establish the development authority. Requires the development authority to prepare a comprehensive strategic economic development plan. Amends the definition of “economic development projects’ under the local income tax statute. Codifies the establishment and governing provisions of the Indianapolis Metropolitan Planning Organization.
Chamber position: Support
The latest: On Wednesday, the House Ways and Means Committee passed an amended version of SB 350 by a vote of 21-0.
Indiana Chamber action/commentary: Chairman Brown’s amendment #6 changed significantly the aesthetics of the bill while keeping its intent very much intact ( i.e. establishing a central Indiana development authority to be managed by a codified Indianapolis Metropolitan Planning Organization).
The Chamber will continue working with other leading stakeholders to refine technical aspects of the bill, and otherwise advocate for SB 350 as a model which other state regions can use to gain access to capital and establish a pipeline of investable, quality-of-place projects and programs.
Resource: Adam H. Berry at (317) 264-6892 or email: aberry@indianachamber.com
