HB 2008-12_ Filed 03/03/2003, 08:03 Espich
PREVAILED Roll Call No. _______
FAILED Ayes _______
WITHDRAWN Noes _______
RULED OUT OF ORDER
HOUSE MOTION ____
I move that House Bill 2008 be amended to read as follows:
SOURCE: Page 50, line 16; (03)MO200826.50. -->
Page 50, between lines 16 and 17, begin a new paragraph and
SOURCE: IC 6-3.1-13-15.5; (03)MO200826.28. -->
, AS ADDED BY P.L.178-2002,
SECTION 45, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2003]: Sec. 15.5. This section applies to an
application proposing to retain existing jobs in Indiana. After receipt
of an application, the board may enter into an agreement with the
applicant for a credit under this chapter if the board determines that all
the following conditions exist:
(1) The applicant's project will retain existing jobs performed by
the employees of the applicant in Indiana.
(2) The applicant provides evidence that there is at least one (1)
other competing site outside Indiana that is being considered for
the project or for the relocation of jobs.
(3) A disparity is identified, using the best available data, in the
projected costs for the applicant's project in Indiana compared
with the costs for the project in the competing site.
(4) The applicant is engaged in research and development,
manufacturing, or business services (as defined in the Standard
Industrial Classification Manual of the United States Office of
Management and Budget).
(5) The average compensation (including benefits) provided to
the applicant's employees during the applicant's previous fiscal
year exceeds the
average compensation paid during that same
period to all employees in the county in which the applicant's
business is located by at least five percent (5%). lesser of:
(A) the average county wage in the county where the
project for which the credit under this chapter is granted
will be located; or
(B) the average wage in the state;
during the same period, as determined by the department of
(6) The applicant employs at least
two hundred (200)
seventy-five (75) employees in Indiana.
(7) The applicant has prepared a plan for the use of the credits
under this chapter for:
(A) investment in facility improvements or equipment and
machinery upgrades, repairs, or retrofits; or
(B) other direct business related investments, including but
not limited to training.
(8) Receiving the tax credit is a major factor in the applicant's
decision to go forward with the project, and not receiving the tax
credit will increase the likelihood of the applicant reducing jobs
(9) Awarding the tax credit will result in an overall positive fiscal
impact to the state, as certified by the budget agency using the
best available data.
(10) The applicant's business and project are economically sound
and will benefit the people of Indiana by increasing or
maintaining opportunities for employment and strengthening the
economy of Indiana.
(11) The communities affected by the potential reduction in jobs
or relocation of jobs to another site outside Indiana have
committed at least one dollar
and fifty cents ($1.50) ($1) of local
incentives with respect to the retention of jobs for every three
two dollars ($3) ($2) in credits provided under this chapter. For
purposes of this subdivision, local incentives include, but are not
limited to, cash grants, tax abatements, infrastructure
improvements, investment in facility rehabilitation, construction,
and training investments.
(12) The credit is not prohibited by section 16 of this chapter.
SOURCE: IC 6-3.1-13-17; (03)MO200826.29. -->
, AS AMENDED BY P.L.178-2002,
SECTION 46, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2003]: Sec. 17. In determining the credit
amount that should be awarded to an applicant under section 15 of this
chapter that proposes a project to create jobs in Indiana, the board
shall take into consideration the following factors:
(1) The economy of the county where the projected investment
is to occur.
(2) The potential impact on the economy of Indiana.
(3) The incremental payroll attributable to the project.
(4) The capital investment attributable to the project.
average wage paid by the applicant.
the average wage paid within the county in which the project will
(6) The costs to Indiana and the affected political subdivisions
with respect to the project.
(7) The financial assistance that is otherwise provided by Indiana
and the affected political subdivisions.
As appropriate, the board shall consider the factors in this section to
determine the credit amount awarded to an applicant for a project to
retain existing jobs in Indiana under section 15.5 of this chapter. In the
case of an applicant under section 15.5 of this chapter, the board shall
consider the magnitude of the cost differential between the projected
costs for the applicant's project in the competing site outside Indiana
and the projected costs for the applicant's project in Indiana.".
Renumber all SECTIONS consecutively.
(Reference is to HB 2008 as printed February 26, 2003.)
MO200826/DI 51 2003