HB 1251-5_ Filed 02/07/2011, 11:27 Pelath
Text Box
PREVAILED Roll Call No. _______
FAILED Ayes _______
WITHDRAWN Noes _______
RULED OUT OF ORDER
[
HOUSE MOTION ____
]
MR. SPEAKER:
I move that House Bill 1251 be amended to read as follows:
SOURCE: Page 1, line 1; (11)MO125107.1. -->
Page 1, between the enacting clause and line 1, begin a new
paragraph and insert:
SOURCE: IC 5-28-2-4.1; (11)MO125107.1. -->
"SECTION 1. IC 5-28-2-4.1 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 4.1. "Incentive granted by the corporation"
includes any benefit, grant, loan, loan guarantee, money, tax
deduction, tax credit, or other thing of value referred to in:
(1) this article; or
(2) another Indiana statute that authorizes the corporation,
including the board, to award or approve the award of any
benefit, grant, loan, money, tax credit, or other thing of value.
SOURCE: IC 5-28-6-5; (11)MO125107.2. -->
SECTION 2. IC 5-28-6-5, AS ADDED BY P.L.110-2010,
SECTION 8, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 5. The corporation shall designate an
employee to serve as a compliance officer whose duties are to
determine and report to the corporation whether each person that
receives a job creation an incentive granted by the corporation or
another agency or instrumentality of the state (excluding any political
subdivision or other unit of local government) complies with the terms
and conditions of the person's incentive agreement.
SOURCE: IC 5-28-6-6; (11)MO125107.3. -->
SECTION 3. IC 5-28-6-6, AS ADDED BY P.L.110-2010,
SECTION 9, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 6. The corporation shall require an applicant
for
a job creation an incentive to be granted by the corporation after
March 31, 2010, to enter into an agreement with the corporation as a
condition of receiving the incentive. Subject to IC 5-28-28-8, the
agreement must include the following requirements:
(1) The A specific number of individuals that are expected to will
be employed by the applicant as of a specified date each year.
(2) A requirement that the applicant will file with the compliance
officer an annual compliance report detailing the applicant's
compliance, or progress toward compliance, with subdivision (1).
(3) A provision that notifies the applicant that the applicant is
subject to a determination of the corporation under this
subdivision. The corporation, after a finding That The applicant
will pay back to the state the proportionate share of any
incentive that has already been received by the applicant if the
applicant is found to be employing fewer individuals than the
applicant agreed to employ under subdivision (1). subject to any
confidentiality laws, shall hold a hearing to determine if the
applicant shall be required to pay back to the state a part of the
incentive granted to the applicant under the agreement. The
penalty imposed must be a matter of public record and must
reflect in a fair and balanced way the amount of incentive
received. The amount required to be paid back is the
percentage of the total incentive that equals the ratio that the
deficiency in the number of individuals employed bears to the
number of individuals the applicant agreed under subdivision
(1) to employ.
(4) A requirement that the applicant will pay back to the state the
entire incentive that has been received by the applicant if the
applicant moves, or closes, or transfers employment positions
out of Indiana.
Except as provided in IC 5-28-28-8, the corporation may not
provide an incentive granted by the corporation to a person that is
being required to pay back any part of an incentive to the state,
until the date the person has repaid the incentive to the state.
SOURCE: IC 5-28-28-1; (11)MO125107.4. -->
SECTION 4. IC 5-28-28-1, AS ADDED BY P.L.222-2007,
SECTION 1, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 1. This chapter applies to grants, loans, and
tax credits:
(1) applied for; and
(2) awarded;
after June 30, 2007. However, sections 8 and 9 of this chapter apply
to any incentive granted by the corporation before, on, or after
June 30, 2007.
SOURCE: IC 5-28-28-7; (11)MO125107.5. -->
SECTION 5. IC 5-28-28-7, AS AMENDED BY P.L.110-2010,
SECTION 12, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 7. (a) If, in the course of compiling
information to complete a report required by section 5 of this chapter
or upon the receipt of any other information concerning noncompliance
with the terms and conditions of an incentive granted by the
corporation, the corporation determines that a recipient of an incentive
awarded by the corporation has not complied with the representations
that the recipient made in obtaining the incentive, the corporation shall
take the actions required under subsections (b) and (d).
(b) If the incentive is a grant or loan awarded before April 1, 2010,
the corporation shall determine:
(1) whether there was good cause for the noncompliance; and
(2) whether the recipient is in default.
If in the judgment of the corporation there is not good cause for any
noncompliance discovered under subsection (a), the corporation may
seek a refund or arrange other methods of reclaiming the grant or loan
from the recipient. If the corporation does seek a refund or otherwise
reclaims a grant or loan from the recipient under this section, the
amount of the refund or reclaimed part must be in proportion to the
degree of default by the recipient as determined by the corporation.
(c) Subsection (b) does not apply to a recipient of a grant or loan if:
(1) the grant or loan has been disbursed on a pro rata basis; and
(2) in the judgment of the corporation, the recipient's performance
in relation to the recipient's performance goals equals or exceeds
the ratio of the amount of the recipient's actual benefit from the
grant or loan to the total amount of the grant or loan originally
contemplated in the grant or loan award.
(d) If the incentive granted by the corporation was awarded after
March 31, 2010, subject to section 8 of this chapter, the corporation
shall seek a refund or arrange other methods of reclaiming the value of
the incentive granted by the corporation from the recipient. The amount
of the refund or reclaimed part must be in proportion to the degree of
default by the recipient as determined by the corporation. If the
noncompliance is a failure to meet a requirement related to
employment levels, the amount reclaimed must be a percentage of
the incentive that equals the deficiency in the number of
individuals employed as compared to the number of individuals the
recipient agreed to employ.
SOURCE: IC 5-28-28-8; (11)MO125107.6. -->
SECTION 6. IC 5-28-28-8, AS ADDED BY P.L.110-2010,
SECTION 13, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 8. (a) As used in this section, "recapture
provision" means language that requires the recipient of an incentive
to repay some part of the incentive.
(b) The corporation may waive or modify a recapture provision of
this article or an agreement made with a person to whom the
corporation has awarded an incentive if the corporation determines that
the recipient of an incentive awarded by the corporation has failed to
meet a condition for receiving the incentive because of circumstances
beyond the recipient's control, including:
(1) natural disaster;
(2) unforeseen industry trends;
(3) lack of available labor force; or
(4) loss of a major supplier or market. or
(5) another circumstance beyond the recipient's control, as
determined by the corporation.
SOURCE: IC 5-28-28-9; (11)MO125107.7. -->
SECTION 7. IC 5-28-28-9, AS ADDED BY P.L.110-2010,
SECTION 14, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 9. (a) Beginning in 2010, the economic
incentives and compliance report required under section 5 of this
chapter must include an annual report containing summary statistics on
the effectiveness of and compliance with all incentives granted by the
corporation. The report required by this section must: describe:
(1) the overall compliance with the terms and conditions of
incentives provided; and
(2) penalties imposed for failure to comply with the terms and
conditions of incentives provided.
The report must also be submitted to the general assembly in an
electronic format under IC 5-14-6.
(b) Upon request, the corporation shall make available:
(1) information include a section specifying each person's
compliance with its incentive agreement and any incentive that
had to be reduced or paid back as a result of noncompliance with
an incentive agreement;
(2) information stating, state, for each incentive recipient, the
total incentive provided for each job created, computed from the
date the incentive is granted through June 30 of the year of the
report; and
(3) information concerning all waivers or modifications under
section 8 of this chapter; and
(4) information describing all hearings and determinations under
IC 5-28-6-6.
(3) be submitted to the general assembly in an electronic
format under IC 5-14-6.".
SOURCE: Page 3, line 14; (11)MO125107.3. -->
Page 3, after line 14, begin a new paragraph and insert:
SOURCE: IC 5-28-2-5.5; (11)MO125107.9. -->
"SECTION 9. IC 5-28-2-5.5 IS REPEALED [EFFECTIVE UPON
PASSAGE].
SOURCE: ; (11)MO125107.10. -->
SECTION 10.
An emergency is declared for this act.".
Renumber all SECTIONS consecutively.
(Reference is to HB 1251 as printed February 1, 2011.)
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MO125107/DI 92 2011