Introduced Version






SENATE BILL No. 229

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DIGEST OF INTRODUCED BILL



Citations Affected: IC 4-4.

Synopsis: Funding of development in distressed counties. Reduces the unemployment rate required to qualify a county as a distressed area for purposes of funding industrial development projects from 2% above the statewide average to 1.5% above that average. Repeals the expiration provision in the law providing for funding of industrial development projects in distressed counties.

Effective: July 1, 2004.





Skillman




    January 8, 2004, read first time and referred to Committee on Finance.







Introduced

Second Regular Session 113th General Assembly (2004)


PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
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Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts between statutes enacted by the 2003 Regular Session of the General Assembly.

SENATE BILL No. 229



    A BILL FOR AN ACT to amend the Indiana Code concerning state offices and administration.

Be it enacted by the General Assembly of the State of Indiana:

    SECTION 1. IC 4-4-10.9-6.1, AS ADDED BY P.L.224-2003, SECTION 273, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2004]: Sec. 6.1. "Distressed area" means a county in which:
        (1) the average annualized unemployment rate in each of the two (2) calendar years immediately preceding the current calendar year exceeded the statewide average annualized unemployment rate for each of the same calendar years by at least two one and five-tenths percent (2%); (1.5%); or
        (2) the average annualized unemployment rate in the immediately preceding calendar year was at least double the statewide average annualized unemployment rate for the same period;
as determined by the department of workforce development and published in the report required by IC 4-4-31-1.
    SECTION 2. IC 4-4-31-8 IS REPEALED [EFFECTIVE JULY 1, 2004].