The state House of Representatives sent Gov. Mike Pence a bill Tuesday that requires the Indiana Economic Development Corp. to make job-creation reports transparent to taxpayers and policy makers.
Senate Bill 162 will require the IEDC to include information on a number of things related to incentives granted to companies for job creation, including performance reviews, recaptured incentives, total number of recipients and tax credits claimed for the incentive period, and the actual number of jobs created compared to the number of new jobs anticipated.
“This bill strikes the appropriate balance by providing taxpayers with constructive information while respecting sensitive business information,” said Sen. Brandt Hershman, R-Buck Creek.
The IEDC has been working along with the legislature for several months to craft the measure so the agency can launch a transparency website when the law comes into effect July 1.
The bill was introduced by Sen. Mike Delph, a Republican from Carmel.
“It was evident when I joined the IEDC that it had benefited from effective management who fostered a culture of continuous improvement,” said Eric Doden, president of the IEDC. “That culture, along with this new legislation, helps us to consolidate our economic development project reporting into a format that is more accessible and easier to understand.”
The bill passed the House 98-0 and goes to Pence, who is expected to sign it into law.