Indiana 2023 Regular Session

Indiana Senate Bill SB0397

Introduced
1/19/23  

Caption

Innovation development districts.

Impact

If enacted, SB0397 will facilitate the establishment of innovation development districts that could significantly impact local governance and economic strategies within communities. It will ensure that local executives are informed and involved in substantial land acquisitions, fostering a more collaborative approach to statewide economic development initiatives. Additionally, a portion of property tax revenue generated within these districts can be allocated to local school corporations without restrictions, potentially benefiting educational funding but raising questions about oversight.

Summary

Senate Bill 397, known as the Innovation Development Districts Act, aims to amend existing Indiana Code regarding local government and economic development. Specifically, it stipulates that the state must notify the local executive of any purchase exceeding 100 acres of land for economic development purposes. Moreover, the bill details the conditions under which innovation development districts may be established, including prohibiting the designation of these districts if it would lead to the reduction of existing operations elsewhere in Indiana. This aims to curb business relocation that could negatively impact existing local economies.

Contention

There are notable points of contention around the provisions in SB0397. Critics may argue that while the intention behind providing local executives with notification rights is commendable, it could lead to bureaucratic delays and hinder swift economic development. Furthermore, the bill's limitation on establishing innovation districts in existing allocation areas raises concerns among proponents of local control who fear restrictions on economic opportunities in various regions. Discussions surrounding the balance between state-level economic strategy and local autonomy will be key as this bill progresses.

Companion Bills

No companion bills found.

Previously Filed As

IN HB1408

Regional innovation development.

IN SB0516

Economic development.

IN SB0361

Economic development.

IN SB0295

Indiana economic development corporation.

IN SB0261

Economic development districts.

IN HB1540

Transit development districts.

IN HB1130

Economic development districts.

IN SB0347

Indiana economic development corporation.

IN HB1172

Office of entrepreneurship and innovation.

IN SB0256

Fiscal matters.

Similar Bills

AR SB425

To Amend Various Provisions Of The Arkansas Code Concerning Enhanced Transportation; And To Declare An Emergency.

KY SB3

AN ACT relating to redistricting and declaring an emergency.

AR HB1238

To Amend Various Provisions Of The Arkansas Code Concerning Enhanced Transportation Funding Amounts; And To Declare An Emergency.

NH HB50

Apportioning state representative districts.

KY SB2

AN ACT relating to redistricting and declaring an emergency.

KY HB2

AN ACT relating to redistricting and declaring an emergency.

CA AB1719

Housing: Community College Faculty and Employee Housing Act of 2022.

MS HB1311

Seventh Circuit Court District; revise number of assistant district attorneys and criminal investigators.