Bill Title: Business development closing fund. Establishes the business development closing fund (fund) to provide incentives in the form of forgivable loans to be used to attract new business and economic development to Indiana and encourage expansion of existing business in Indiana. Provides that if the amount of excess reserves is more than $200 million, then up to $100 million of the excess reserves that exceed $200 million shall be transferred to the fund. Provides that the Indiana economic development corporation (IEDC) administers the fund. Requires the IEDC to perform the following duties: (1) Establish the criteria for awarding forgivable loans from

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-01-14 - First Reading: referred to Committee on Appropriations [SB0477 Detail]

Text: Latest bill text (Introduced) [PDF]

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