First Regular Session 115th General Assembly (2007)
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HOUSE ENROLLED ACT No. 1424
AN ACT to amend the Indiana Code concerning economic development.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 36-7-32-11; (07)HE1424.1.1. -->
SECTION 1. IC 36-7-32-11, AS AMENDED BY SEA 526-2007,
SECTION 388, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2007]: Sec. 11. (a) After receipt of an
application under section 10 of this chapter, and subject to subsection
(b), the Indiana economic development corporation may designate a
certified technology park if the corporation determines that the
application demonstrates a firm commitment from at least one (1)
business engaged in a high technology activity creating a significant
number of jobs and satisfies one (1) or more of the following additional
criteria:
(1) A demonstration of significant support from an institution of
higher education, a private research based institute, or a military
research and development or testing facility on an active United
States government military base or other military installation
located within, or in the vicinity of, the proposed certified
technology park, as evidenced by the following criteria:
(A) Grants of preferences for access to and commercialization
of intellectual property.
(B) Access to laboratory and other facilities owned by or under
the control of the postsecondary educational institution or
private research based institute.
(C) Donations of services.
(D) Access to telecommunications facilities and other
infrastructure.
(E) Financial commitments.
(F) Access to faculty, staff, and students.
(G) Opportunities for adjunct faculty and other types of staff
arrangements or affiliations.
(H) Other criteria considered appropriate by the Indiana
economic development corporation.
(2) A demonstration of a significant commitment by the
postsecondary educational institution, private research based
institute, or military research and development or testing facility
on an active United States government military base or other
military installation to the commercialization of research
produced at the certified technology park, as evidenced by the
intellectual property and, if applicable, tenure policies that reward
faculty and staff for commercialization and collaboration with
private businesses.
(3) A demonstration that the proposed certified technology park
will be developed to take advantage of the unique characteristics
and specialties offered by the public and private resources
available in the area in which the proposed certified technology
park will be located.
(4) The existence of or proposed development of a business
incubator within the proposed certified technology park that
exhibits the following types of resources and organization:
(A) Significant financial and other types of support from the
public or private resources in the area in which the proposed
certified technology park will be located.
(B) A business plan exhibiting the economic utilization and
availability of resources and a likelihood of successful
development of technologies and research into viable business
enterprises.
(C) A commitment to the employment of a qualified full-time
manager to supervise the development and operation of the
business incubator.
(5) The existence of a business plan for the proposed certified
technology park that identifies its objectives in a clearly focused
and measurable fashion and that addresses the following matters:
(A) A commitment to new business formation.
(B) The clustering of businesses, technology, and research.
(C) The opportunity for and costs of development of properties
under common ownership or control.
(D) The availability of and method proposed for development
of infrastructure and other improvements, including
telecommunications technology, necessary for the
development of the proposed certified technology park.
(E) Assumptions of costs and revenues related to the
development of the proposed certified technology park.
(6) A demonstrable and satisfactory assurance that the proposed
certified technology park can be developed to principally contain
property that is primarily used for, or will be primarily used for,
a high technology activity or a business incubator.
(b) The Indiana economic development corporation may not
approve an application that would result in a substantial reduction or
cessation of operations in another location in Indiana in order to
relocate them within the certified technology park.
(c) A certified technology park designated under this section is
subject to the review of the Indiana economic development
corporation and must be recertified every four (4) years. The
corporation shall develop procedures and the criteria to be used in
the review required by this subsection. A certified technology park
shall furnish to the corporation the following information to be
used in the course of the review:
(1) Total employment and payroll levels for all businesses
operating within the certified technology park.
(2) The nature and extent of any technology transfer activity
occurring within the certified technology park.
(3) The nature and extent of any nontechnology businesses
operating within the certified technology park.
(4) The use and outcomes of any state money made available
to the certified technology park.
(5) An analysis of the certified technology park's overall
contribution to the technology based economy in Indiana.
(d) To the extent allowed under IC 5-14-3, the corporation shall
maintain the confidentiality of any information that:
(1) is submitted as part of the review process under subsection
(c); and
(2) marked as confidential;
by the certified technology park.
SOURCE: IC 36-7-32-12; (07)HE1424.1.2. -->
SECTION 2. IC 36-7-32-12, AS AMENDED BY SEA 526-2007,
SECTION 389, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2007]: Sec. 12. A redevelopment commission
and the legislative body of the unit that established the redevelopment
commission may enter into an agreement with the Indiana economic
development corporation establishing the terms and conditions
governing a certified technology park designated under section 11 of
this chapter. Upon designation of the certified technology park under
the terms of the agreement, the subsequent failure of any party to
comply with the terms of the agreement does not may result in the
termination or rescission of the designation of the area as a certified
technology park. The agreement must include the following provisions:
(1) A description of the area to be included within the certified
technology park.
(2) Covenants and restrictions, if any, upon all or a part of the
properties contained within the certified technology park and
terms of enforcement of any covenants or restrictions.
(3) The financial commitments of any party to the agreement and
of any owner or developer of property within the certified
technology park.
(4) The terms of any commitment required from a postsecondary
educational institution or private research based institute for
support of the operations and activities within the certified
technology park.
(5) The terms of enforcement of the agreement, which may
include the definition of events of default, cure periods, legal and
equitable remedies and rights, and penalties and damages, actual
or liquidated, upon the occurrence of an event of default.
(6) The public facilities to be developed for the certified
technology park and the costs of those public facilities, as
approved by the Indiana economic development corporation.
HEA 1424
Figure
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