IN SB0563 | 2019 | Regular Session

Status

Completed Legislative Action
Spectrum: Slight Partisan Bill (Republican 6-2)
Status: Passed on May 1 2019 - 100% progression
Action: 2019-05-01 - Public Law 158
Text: Latest bill text (Enrolled) [PDF]

Summary

Economic development. Establishes the small business innovation voucher program (program) to provide vouchers to eligible small businesses to be used by the business to purchase research and development support or other forms of technical assistance and services from an Indiana institution of higher education or other authorized research provider. Provides that the Indiana economic development corporation (IEDC) shall administer the program. Provides that the program is subject to appropriation from the general assembly. Amends the definition of "sales" and adds a definition of "telecommunication services" and "broadcast services" under the state adjusted gross income tax provisions. Amends the provisions for determining when sales, other than sales of tangible personal property, are derived from sources within Indiana for purposes of determining the state adjusted gross income of corporations and nonresident persons. Provides that the IEDC may enter into an agreement for mutual economic assistance and a payment agreement with a similar agency or body of a state bordering Indiana. Provides that a taxpayer (with certain exceptions) is not entitled to receive an industrial recovery tax credit for a qualified investment made after December 31, 2019. Amends the definition of "incremental income tax withholdings" for purposes of the EDGE tax credit to accommodate nonresident employees covered by a mutual economic assistance agreement and payment agreement. Permits a taxpayer to claim an income tax credit for qualified investments made after a community revitalization enhancement district has expired if the taxpayer satisfies certain conditions. Allows a taxpayer to assign all or part of a venture capital investment tax credit, subject to certain limitations. Amends the definition of "qualified investment" under the Hoosier business investment tax credit to include the purchase of: (1) retooled or refurbished machinery; (2) new energy conservation and pollution control equipment; and (3) new onsite digital manufacturing equipment. Provides that the Hoosier business tax investment credit for new onsite digital manufacturing equipment for a tax credit is not to exceed 15% of the qualified investment and is for a limited time period. Amends the headquarters relocation tax credit to extend the credit to an eligible business that: (1) acquired at least $4,000,000 in venture capital within either six months prior to or six months after applying for the credit; and (2) commits to: (A) relocating its headquarters to Indiana; or (B) relocating the number of jobs that equals 80% of the business's payroll to Indiana. Provides that the total amount of headquarters relocation tax credits that may be approved in a state fiscal year for all eligible businesses that qualify for the tax credit under the new provision may not exceed $5,000,000. Establishes the redevelopment tax credit (credit). Requires a taxpayer to apply to the IEDC for the credit. Provides that a taxpayer may claim a credit against state tax liability if: (1) the taxpayer makes a qualified investment for the redevelopment or rehabilitation of real property located within a qualified redevelopment site; and (2) the qualified investment is approved by the IEDC. Provides that the amount of the credit is equal to: (1) the qualified investment made by the taxpayer and approved by the IEDC in an agreement; multiplied by (2) the applicable credit percentage determined by the IEDC. Specifies the maximum applicable credit percentages that apply to qualified investments. Caps the redevelopment tax credit at $50,000,000 per state fiscal year with certain exceptions. Allows a taxpayer to assign all or part of a redevelopment tax credit, subject to certain limitations. Authorizes the IEDC to include in an agreement for the tax credit provisions that require the taxpayer to repay all or part of a credit awarded over a period of years. Provides that an agreement for the redevelopment tax credit must include a repayment provision for the amount of any credit award that exceeds $7,000,000. Requires the IEDC to establish measurements for evaluating the performance of the redevelopment tax credit and evaluate the tax credit program on a biennial basis. Requires the IEDC to collect data on the effectiveness of an assignment of both the venture capital investment tax credit and the redevelopment tax credit and report its findings to the legislative council before November 1, 2022. Changes the recertification period for certified technology parks from three years to four years. Provides that once a certified technology park reaches its cap, an additional amount equal to a specified amount of incremental income taxes shall be captured. Requires a redevelopment commission that has designated a third party manager or operator of a certified technology park to transfer to the manager or operator the amount owed within 30 days of receiving a distribution. Urges the legislative council to assign to an appropriate interim study committee the task of studying the development of regional airports throughout Indiana. Makes an appropriation.

Tracking Information

Register now for our free OneVote public service or GAITS Professional trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

Economic development. Establishes the small business innovation voucher program (program) to provide vouchers to eligible small businesses to be used by the business to purchase research and development support or other forms of technical assistance and services from an Indiana institution of higher education or other authorized research provider. Provides that the Indiana economic development corporation (IEDC) shall administer the program. Provides that the program is subject to appropriation from the general assembly. Amends the definition of "sales" and adds a definition of "telecommunication services" and "broadcast services" under the state adjusted gross income tax provisions. Amends the provisions for determining when sales, other than sales of tangible personal property, are derived from sources within Indiana for purposes of determining the state adjusted gross income of corporations and nonresident persons. Provides that the IEDC may enter into an agreement for mutual economic assistance and a payment agreement with a similar agency or body of a state bordering Indiana. Provides that a taxpayer (with certain exceptions) is not entitled to receive an industrial recovery tax credit for a qualified investment made after December 31, 2019. Amends the definition of "incremental income tax withholdings" for purposes of the EDGE tax credit to accommodate nonresident employees covered by a mutual economic assistance agreement and payment agreement. Permits a taxpayer to claim an income tax credit for qualified investments made after a community revitalization enhancement district has expired if the taxpayer satisfies certain conditions. Allows a taxpayer to assign all or part of a venture capital investment tax credit, subject to certain limitations. Amends the definition of "qualified investment" under the Hoosier business investment tax credit to include the purchase of: (1) retooled or refurbished machinery; (2) new energy conservation and pollution control equipment; and (3) new onsite digital manufacturing equipment. Provides that the Hoosier business tax investment credit for new onsite digital manufacturing equipment for a tax credit is not to exceed 15% of the qualified investment and is for a limited time period. Amends the headquarters relocation tax credit to extend the credit to an eligible business that: (1) acquired at least $4,000,000 in venture capital within either six months prior to or six months after applying for the credit; and (2) commits to: (A) relocating its headquarters to Indiana; or (B) relocating the number of jobs that equals 80% of the business's payroll to Indiana. Provides that the total amount of headquarters relocation tax credits that may be approved in a state fiscal year for all eligible businesses that qualify for the tax credit under the new provision may not exceed $5,000,000. Establishes the redevelopment tax credit (credit). Requires a taxpayer to apply to the IEDC for the credit. Provides that a taxpayer may claim a credit against state tax liability if: (1) the taxpayer makes a qualified investment for the redevelopment or rehabilitation of real property located within a qualified redevelopment site; and (2) the qualified investment is approved by the IEDC. Provides that the amount of the credit is equal to: (1) the qualified investment made by the taxpayer and approved by the IEDC in an agreement; multiplied by (2) the applicable credit percentage determined by the IEDC. Specifies the maximum applicable credit percentages that apply to qualified investments. Caps the redevelopment tax credit at $50,000,000 per state fiscal year with certain exceptions. Allows a taxpayer to assign all or part of a redevelopment tax credit, subject to certain limitations. Authorizes the IEDC to include in an agreement for the tax credit provisions that require the taxpayer to repay all or part of a credit awarded over a period of years. Provides that an agreement for the redevelopment tax credit must include a repayment provision for the amount of any credit award that exceeds $7,000,000. Requires the IEDC to establish measurements for evaluating the performance of the redevelopment tax credit and evaluate the tax credit program on a biennial basis. Requires the IEDC to collect data on the effectiveness of an assignment of both the venture capital investment tax credit and the redevelopment tax credit and report its findings to the legislative council before November 1, 2022. Changes the recertification period for certified technology parks from three years to four years. Provides that once a certified technology park reaches its cap, an additional amount equal to a specified amount of incremental income taxes shall be captured. Requires a redevelopment commission that has designated a third party manager or operator of a certified technology park to transfer to the manager or operator the amount owed within 30 days of receiving a distribution. Urges the legislative council to assign to an appropriate interim study committee the task of studying the development of regional airports throughout Indiana. Makes an appropriation.

Sponsors


Roll Calls

2019-04-24 - House - House - Rules Suspended. Conference Committee Report 1 (Y: 97 N: 1 NV: 0 Abs: 2) [PASS]
2019-04-24 - Senate - Senate - Rules Suspended. Conference Committee Report 1 (Y: 45 N: 3 NV: 1 Abs: 1) [PASS]
2019-04-11 - House - House - Third reading (Y: 90 N: 0 NV: 1 Abs: 9) [PASS]
2019-04-08 - House - House - Committee Vote (Y: 23 N: 0 NV: 0 Abs: 1) [PASS]
2019-02-25 - Senate - Third reading (Y: 45 N: 4 NV: 0 Abs: 1) [PASS]
2019-02-19 - Senate - Senate - Committee Vote (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2019-05-01SenatePublic Law 158
2019-05-01SenateSigned by the Governor
2019-04-30SenateSigned by the President of the Senate
2019-04-29HouseSigned by the Speaker
2019-04-24SenateSigned by the President Pro Tempore
2019-04-24HouseRules Suspended. Conference Committee Report 1: adopted by the House; Roll Call 640: yeas 97, nays 1
2019-04-24SenateRules Suspended. Conference Committee Report 1: adopted by the Senate; Roll Call 605: yeas 45, nays 3
2019-04-24HouseCCR # 1 filed in the House
2019-04-24SenateCCR # 1 filed in the Senate
2019-04-23SenateSenator Houchin added as conferee
2019-04-23SenateSenator Stoops removed as conferee
2019-04-23SenateSenator Houchin removed as advisor
2019-04-16HouseHouse advisors appointed: Lehman, Mayfield, Hamilton and Klinker
2019-04-16HouseHouse conferees appointed: Huston and Porter
2019-04-15SenateSenate advisors appointed: Houchin and Ford J.D.
2019-04-15SenateSenate conferees appointed: Holdman and Stoops
2019-04-15SenateSenate dissented from House amendments
2019-04-15SenateMotion to dissent filed
2019-04-12HouseReturned to the Senate with amendments
2019-04-11HouseRepresentative Porter added as cosponsor
2019-04-11HouseThird reading: passed; Roll Call 484: yeas 90, nays 0
2019-04-10HouseSecond reading: ordered engrossed
2019-04-08HouseCommittee report: amend do pass, adopted
2019-03-07HouseFirst reading: referred to Committee on Ways and Means
2019-02-26SenateReferred to the House
2019-02-25SenateSenator Randolph added as coauthor
2019-02-25SenateCosponsors: Representatives Brown, T. and Lehman
2019-02-25SenateHouse sponsor: Representative Huston
2019-02-25SenateThird reading: passed; Roll Call 201: yeas 45, nays 4
2019-02-21SenateSecond reading: ordered engrossed
2019-02-19SenateSenator Messmer added as coauthor
2019-02-19SenateSenator Houchin added as second author
2019-02-19SenateCommittee report: amend do pass, adopted
2019-01-14SenateFirst reading: referred to Committee on Tax and Fiscal Policy
2019-01-14SenateAuthored by Senator Holdman

Indiana State Sources

TypeSource
Summaryhttp://iga.in.gov/legislative/2019/bills/senate/563/
Texthttp://iga.in.gov/static-documents/7/2/c/f/72cf9a2a/SB0563.01.INTR.pdf
Texthttp://iga.in.gov/static-documents/4/2/9/8/4298f665/SB0563.01.INTR.pdf
Texthttp://iga.in.gov/static-documents/c/a/2/c/ca2cdf0c/SB0563.02.COMS.pdf
Texthttp://iga.in.gov/static-documents/5/9/0/a/590a78a7/SB0563.02.COMS.pdf
Texthttp://iga.in.gov/static-documents/9/6/6/0/9660c6eb/SB0563.03.COMH.pdf
Texthttp://iga.in.gov/static-documents/9/a/7/3/9a736b2a/SB0563.03.COMH.pdf
Texthttp://iga.in.gov/static-documents/e/4/f/b/e4fbd379/SB0563.04.ENRH.pdf
Roll Callhttp://iga.in.gov/static-documents/a/8/4/c/a84cf627/SB0563.01.INTR.00.pdf
Roll Callhttp://iga.in.gov/static-documents/0/b/a/f/0baf7760/SB0563.201.pdf
Roll Callhttp://iga.in.gov/static-documents/6/7/7/d/677d4f7c/SB0563.02.COMS.00.pdf
Roll Callhttp://iga.in.gov/static-documents/8/8/0/a/880aace3/SB0563.484.pdf
Roll Callhttp://iga.in.gov/static-documents/5/a/b/2/5ab2d24f/SB0563.605.pdf
Roll Callhttp://iga.in.gov/static-documents/9/4/b/3/94b3c67b/SB0563.640.pdf

Bill Comments

feedback