Development News From Southwest Indiana

Major Moves (HB 1008) – Provides $3.85 billion from the lease of the Indiana Toll Road to fund nearly 200 statewide transportation and economic growth projects throughout the state.

Telecom Reform (HB 1279) – deregulates telephone services and creates statewide video franchising. Encourages new investment and competition in the provision of advanced telecommunications and video services, resulting in more choices and lower prices for Hoosier consumers.

Single Tax Factor (in HB 1001) – Provides after a phase-in period that corporate business income is apportioned to Indiana for adjusted gross income tax purposes using a single sales factor. Makes Indiana more competitive with surrounding states and eliminates tax “penalty” on companies with substantial Indiana employment and investment.

Reform workforce training system (SB 370) – Authorizes IEDC to create no more than 11 Workforce Development regions (versus 17 today) with streamlined boards accountable for the regional training programs they must now award through competitive bidding. Also consolidates four existing training programs to improve efficiency and make more funds available for training vs. program administration.

HQ Relocation Tax Credit (HB 1380) – Reduces from $500 million to $100 million the amount of annual worldwide revenue that a business must have in order to qualify for the headquarters relocation tax credit.

EDGE Tax Credit Extension (HB 1380) – Provides that an applicant for an EDGE credit for the retention of jobs must employ at least 35 persons (instead of 75 as required by current law). Increases the $5,000,000 per year cap on the amount of EDGE credits that may be granted to retain existing jobs during each state fiscal year to $10,000,000 per year.

Common Sense Consumption (HB 1113) – Grants immunity from civil liability for certain persons in the food and beverage industry, including advertisers, marketers, and advertising media, as to a claim concerning weight gain, obesity, a health condition associated with weight gain or obesity.

Professional Licensing Reform (SB 333) – Makes numerous changes to the state’s licensing rules for various professions.

Hoosier Business Investment Tax Credit (HB 1380) – Extends the deadline by which a qualified investment must be made in order to be eligible for the HBITC until January 1, 2012.