CHAPTER 43. ECONOMIC DEVELOPMENT INCENTIVE ACCOUNTABILITY

IC 6-1.1-43
    Chapter 43. Economic Development Incentive Accountability

IC 6-1.1-43-1
Application of chapter
    Sec. 1. This chapter applies to the following economicdevelopment incentive programs:
        (1) Grants and loans provided by the Indiana economicdevelopment corporation under IC 5-28 or the office of tourismdevelopment under IC 5-29.
        (2) Incentives provided in an economic revitalization area underIC 6-1.1-12.1.
        (3) Incentives provided under IC 6-3.1-13.
        (4) Incentives provided in an airport development zone underIC 8-22-3.5-14.
As added by P.L.60-1997, SEC.1. Amended by P.L.4-2005, SEC.49;P.L.229-2005, SEC.5.

IC 6-1.1-43-2
"Economic development incentive" defined
    Sec. 2. As used in this chapter, an "economic developmentincentive" refers to a tax credit, deduction, exemption, grant, or loanawarded under a program described in section 1 of this chapter.
As added by P.L.60-1997, SEC.1.

IC 6-1.1-43-3
Forfeiture of incentive
    Sec. 3. If a recipient of an economic development incentive failsto comply with the wage and benefit levels that the recipientproposed or promised to obtain an economic development incentive,as determined by the entity awarding the economic developmentincentive, the recipient forfeits the economic development incentiveas of the date of the determination.
As added by P.L.60-1997, SEC.1.

IC 6-1.1-43-4
Restoration of incentive
    Sec. 4. If an economic development incentive is forfeited undersection 3 of this chapter, the economic development incentive maynot be restored to the recipient until the entity awarding theeconomic development incentive determines that the recipient is incompliance with the proposed or promised wage and benefit levels.
As added by P.L.60-1997, SEC.1.