Indiana Code
Title 5. State and Local Administration
Article 28. Indiana Economic Development Corporation

5-28-3-2. Body Corporate and Politic; Examination by Independent Certified Public Accounting Firm; State Board of Accounts - Sec. 2. (a) The corporation is a body politic and...

5-28-3-3. Corporation Employees - Sec. 3. Employees of the corporation are not employees of...

5-28-3-4. Secretary of Commerce; Corporation President - Sec. 4. The governor shall appoint the secretary of commerce,...

5-28-3-5. Repealed - As added by P.L.220-2011, SEC.105. Amended by P.L.39-2011, SEC.3. Repealed...

5-28-3-6. Repealed - As added by P.L.220-2011, SEC.106. Repealed by P.L.189-2018, SEC.42.

Chapter 4. Corporation Board

5-28-4-1. Corporation Governed by Board - Sec. 1. The corporation shall be governed by a board....

5-28-4-2. Membership - Sec. 2. (a) The board is composed of the following...

5-28-4-3. Term of Office - Sec. 3. (a) The term of office of an appointed...

5-28-4-4. Chairperson - Sec. 4. (a) Except as provided by subsection (b), the...

5-28-4-5. Per Diem and Expenses - Sec. 5. The members of the board are entitled to...

5-28-4-6. Quorum; Proxy Vote Prohibited - Sec. 6. (a) The following constitutes a quorum for the...

5-28-4-7. Meetings - Sec. 7. Meetings of the board shall be held at...

Chapter 5. General Powers

5-28-5-1. Economic Development Functions - Sec. 1. The corporation shall carry out the economic development...

5-28-5-2. Grant of Necessary and Appropriate Powers - Sec. 2. The corporation is granted all powers necessary or...

5-28-5-3. Employees and Agents; Contracts - Sec. 3. (a) Subject to approval by the budget agency,...

5-28-5-4. Terms of Employment; Retirement Fund and Employee Benefits - Sec. 4. (a) The corporation shall determine qualifications, duties, compensation,...

5-28-5-5. Ethics - Sec. 5. The board and the employees of the corporation...

5-28-5-6. Advisory Committee - Sec. 6. The board shall establish an advisory committee to...

5-28-5-6.5. Small Business Division - Sec. 6.5. The board may maintain a small business division...

5-28-5-7. Contract, Tort, and Civil Rights Claims - Sec. 7. For purposes of IC 34-13-2, IC 34-13-3, and...

5-28-5-8. Adoption of Rules; Emergency Rules - Sec. 8. (a) The corporation shall adopt rules under IC...

5-28-5-9. Public Meetings and Public Records Laws - Sec. 9. Except as specifically provided by law, the corporation...

5-28-5-10. Reimbursement of Employee Expenses - Sec. 10. An employee of the corporation is entitled to...

5-28-5-11. Request for Appropriations - Sec. 11. The corporation may request appropriations from the general...

5-28-5-12. Promotion Fund - Sec. 12. (a) The Indiana promotion fund is established within...

5-28-5-13. Nonprofit Subsidiary Corporation - Sec. 13. (a) Notwithstanding section 12 of this chapter, the...

5-28-5-14. Fees and Charges - Sec. 14. The corporation may fix and revise periodically, and...

5-28-5-15. Powers in the Event of Default - Sec. 15. The corporation may take assignments of accounts receivable,...

5-28-5-16. Recommendations; Economic Development Tools; Local Communities in Distressed Areas - Sec. 16. The corporation may study and develop recommendations for...

Chapter 6. Duties

5-28-6-0.5. "Final Offer of Public Financial Resources" - Sec. 0.5. As used in this chapter, "final offer of...

5-28-6-0.6. "Negotiations" - Sec. 0.6. As used in this chapter, "negotiations" means communications,...

5-28-6-1. Duties of the Corporation - Sec. 1. The corporation shall do the following: (1) Create...

5-28-6-2. Additional Powers and Duties of Corporation - Sec. 2. (a) The corporation shall develop and promote programs...

5-28-6-3. Repealed - As added by P.L.191-2005, SEC.1. Amended by P.L.122-2006, SEC.1. Repealed...

5-28-6-4. Job Creation Incentive Package; Weight Given to Areas With Dislocated Workers - Sec. 4. The board, the corporation, and the officers and...

5-28-6-5. Job Creation Incentive; Compliance Officer - Sec. 5. The corporation shall designate an employee to serve...

5-28-6-6. Job Creation Incentive Agreement; Requirements; Penalties - Sec. 6. The corporation shall require an applicant for a...

5-28-6-7. Job Creation Incentive; Requirement That Dislocated Workers Be Considered for Jobs Created - Sec. 7. The corporation shall establish a program to ensure...

5-28-6-8. Repealed - As added by P.L.116-2014, SEC.1. Repealed by P.L.85-2017, SEC.14.

5-28-6-9. Annual Aggregate Applicable Tax Credit Limit - Sec. 9. (a) The aggregate amount of applicable tax credits...

Chapter 7. Training 2000 Program and Fund

5-28-7-1. Definitions - Sec. 1. The following definitions apply throughout this chapter: (1)...

5-28-7-2. Training Program; Policies; Promotional Materials; Eligibility; Continuing Operations - Sec. 2. The corporation shall do the following: (1) Establish...

5-28-7-3. Policies and Guidelines; Services and Materials; Training Plans; Evaluation; Other Entities - Sec. 3. The corporation may do the following: (1) Adopt...

5-28-7-4. Participation; Eligibility - Sec. 4. Participation in the training program is limited to...

5-28-7-5. Skills Enhancement Fund - Sec. 5. (a) The skills enhancement fund is established within...

5-28-7-5.5. Limitation for Eligibility of Grants - Sec. 5.5. (a) This section applies to a grant initially...

5-28-7-6. Grants Supporting Cooperative Arrangements for Training Students - Sec. 6. (a) The corporation may award grants from the...

5-28-7-7. Notice of Noncompliance; Return or Repayment of Grants - Sec. 7. (a) If the corporation determines that a business,...

Chapter 8. Economic Development Fund

5-28-8-1. "Federal Agency" - Sec. 1. As used in this chapter, "federal agency" means...

5-28-8-2. "Federal Program" - Sec. 2. As used in this chapter, "federal program" means...

5-28-8-3. "Fund" - Sec. 3. As used in this chapter, "fund" refers to...

5-28-8-4. "Qualified Entity" - Sec. 4. As used in this chapter, "qualified entity" means:...

5-28-8-5. Fund Established; Purpose - Sec. 5. (a) The economic development fund is established within...

5-28-8-6. Investment of Fund by Treasurer of State - Sec. 6. (a) The treasurer of state shall invest the...

5-28-8-7. Drawing of Warrants - Sec. 7. The auditor of state shall draw warrants on...

5-28-8-8. Guidelines for Receipt of Grants and Loans - Sec. 8. (a) The corporation shall receive grants allocated by...

5-28-8-9. Applications for Grants; Approved Projects - Sec. 9. (a) If federal money will not be used...

5-28-8-10. Applications for Loans; Repayment - Sec. 10. (a) A qualified entity may apply to the...

Chapter 9. Industrial Development Program and Fund

5-28-9-1. "Enterprise Zone" - Sec. 1. As used in this chapter, "enterprise zone" means...

5-28-9-2. "Governing Body" - Sec. 2. As used in this chapter, "governing body" means...

5-28-9-3. "Industrial Development Program" - Sec. 3. As used in this chapter, "industrial development program"...

5-28-9-4. "Information and High Technology Infrastructure" - Sec. 4. As used in this chapter, "information and high...

5-28-9-5. "Minority Enterprise Small Business Investment Company" - Sec. 5. As used in this chapter, "minority enterprise small...

5-28-9-6. "Qualified Entity" - Sec. 6. As used in this chapter, "qualified entity" means...

5-28-9-7. "Small Business Investment Company" - Sec. 7. As used in this chapter, "small business investment...

5-28-9-8. Findings - Sec. 8. The general assembly finds that: (1) areas in...

5-28-9-8.5. Legalization of Certain Loans, Loan Agreements, and Similar Arrangements of Department of Commerce and Qualified Entities - Sec. 8.5. (a) As used in this section, "department" refers...

5-28-9-9. Fund Established; Purpose; Administration - Sec. 9. (a) The industrial development fund is established within...

5-28-9-10. Loans for Approved Programs; Amount Restriction; Limitations - Sec. 10. (a) Two million dollars ($2,000,000) in the industrial...

5-28-9-11. Industrial Development Programs - Sec. 11. A qualified entity may institute and administer an...

5-28-9-12. Loans to Qualified Entities; Conditions - Sec. 12. (a) The state board of finance and the...

5-28-9-13. Participation in Program or Project by Entity; Share of Cost - Sec. 13. (a) The qualified entity may provide labor, equipment,...

5-28-9-14. Priority Rating of Applicant for Loan - Sec. 14. (a) The state board of finance and the...

5-28-9-15. Loans; Restrictions; Ordinance Requirement - Sec. 15. (a) A loan made under this chapter is...

5-28-9-16. Revenue to Pay Annual Loan Installment and Interest; Levy of Tax - Sec. 16. A qualified entity receiving a loan under this...

5-28-9-17. Failure to Repay Money Lent; Action to Recover - Sec. 17. (a) If a qualified entity fails to make...

5-28-9-18. Appropriation - Sec. 18. There is appropriated annually to the corporation from...

5-28-9-19. Sale of Notes or Other Debt Obligations by a County, City, or Town; Deposit and Use of Proceeds - Sec. 19. (a) The corporation, with the approval of the...

5-28-9-20. Loan With Simultaneous or Successive Sale of Note or Other Obligation; Legal Investments - Sec. 20. (a) For economic development projects (as defined in...

Chapter 10. Technology Development Grant Fund

5-28-10-1. "Fund" - Sec. 1. As used in this chapter, "fund" refers to...

5-28-10-2. "Political Subdivision" - Sec. 2. As used in this chapter, "political subdivision" has...

5-28-10-3. "Redevelopment Commission" - Sec. 3. As used in this chapter, "redevelopment commission" refers...

5-28-10-4. "Targeted Employment" - Sec. 4. As used in this chapter, "targeted employment" means...

5-28-10-5. "Technology Park" - Sec. 5. As used in this chapter, "technology park" refers...

5-28-10-6. "Technology Product" - Sec. 6. As used in this chapter, "technology product" means...

5-28-10-7. Establishment and Purpose of Fund - Sec. 7. The technology development grant fund is established within...

5-28-10-8. Appropriations From General Assembly - Sec. 8. The fund consists of appropriations from the general...

5-28-10-9. Administration of Fund - Sec. 9. The corporation shall administer the fund. The following...

5-28-10-10. Investment of Money in Fund - Sec. 10. The treasurer of state shall invest the money...

5-28-10-11. Nonreversion - Sec. 11. Money in the fund at the end of...

5-28-10-12. Establishment of Grant Application Procedure - Sec. 12. The corporation shall establish a grant application procedure...

5-28-10-13. Qualification for Grant - Sec. 13. To qualify for a grant under this chapter,...

5-28-10-14. Provision of Grants - Sec. 14. The corporation shall provide grants on a competitive...

5-28-10-15. "Operating Expenditures"; Amount and Use of Grants - Sec. 15. (a) For purposes of this section, "operating expenditures"...

5-28-10-16. Matching Amounts for Capital Expenditure Grants - Sec. 16. A capital expenditure grant under this chapter shall...

5-28-10-17. Grants to Political Subdivisions - Sec. 17. The corporation may, under rules established by the...

Chapter 11. Repealed - Repealed by P.L.145-2016, SEC.7.

Chapter 11.5. New Business Recruitment Grants for Local Economic Development Organizations

5-28-11.5-1. "Economically Disadvantaged Area" - Sec. 1. As used in this chapter, "economically disadvantaged area"...

5-28-11.5-2. "Local Economic Development Organization" - Sec. 2. As used in this chapter, "local economic development...

5-28-11.5-3. "Program" - Sec. 3. As used in this chapter, "program" refers to...

5-28-11.5-4. New Business Recruitment Grant Program Established - Sec. 4. (a) The new business recruitment grant program is...

5-28-11.5-5. Indiana Economic Development Corporation Authorized to Make Grants to Local Economic Development Organizations - Sec. 5. (a) The purpose of the program is to...

5-28-11.5-6. Maximum Grant Amounts - Sec. 6. A grant under this chapter may not exceed:...

5-28-11.5-7. Policies and Procedures - Sec. 7. The corporation may adopt policies and guidelines governing...

5-28-11.5-8. Administrative Costs - Sec. 8. Money appropriated for the program may be used...

5-28-11.5-9. Local Economic Development Organization Recruitment Fund Established; Uses; Revenue Sources; Administration; Investments; Nonreverting Fund - Sec. 9. (a) The local economic development organization recruitment fund...

Chapter 12. Repealed - Repealed by P.L.133-2012, SEC.43.

Chapter 13. Permit Assistance Center

5-28-13-1. "Center" - Sec. 1. As used in this chapter, "center" refers to...

5-28-13-2. "Permit" - Sec. 2. As used in this chapter, "permit" means any...

5-28-13-3. "State Agency" - Sec. 3. As used in this chapter, "state agency" has...

5-28-13-4. Establishment of Center; Duties - Sec. 4. The permit assistance center is established within the...

5-28-13-5. Information File on Permit Requirements - Sec. 5. The center shall establish an information file on...

5-28-13-6. Publications; Preparation and Distribution - Sec. 6. The center may prepare and distribute publications and...

5-28-13-7. Federal and Local Government Permit Agencies; Use of Center Services; Advice to Applicants - Sec. 7. The center may encourage federal and local government...

5-28-13-8. Fees - Sec. 8. The center may not charge a fee for...

5-28-13-9. Authority of State Agencies - Sec. 9. This chapter does not affect the authority of...

5-28-13-10. Assistance of State Agencies - Sec. 10. Upon request of the center, each state agency...

5-28-13-11. Policies and Guidelines - Sec. 11. The corporation may adopt policies and guidelines to...

Chapter 14. Promotion of Trade Shows

5-28-14-1. "Fund" - Sec. 1. As used in this chapter, "fund" refers to...

5-28-14-2. "Small Business Concern" - Sec. 2. As used in this chapter, "small business concern"...

5-28-14-3. "Trade Mission" - Sec. 3. As used in this chapter, "trade mission" means...

5-28-14-4. "Trade Show" - Sec. 4. As used in this chapter, "trade show" means...

5-28-14-5. Corporation's Duties - Sec. 5. (a) The corporation shall promote the participation of...

5-28-14-6. Trade Promotion Fund - Sec. 6. (a) The trade promotion fund is established within...

5-28-14-7. Reimbursement for Booth Rental Fees - Sec. 7. The corporation may provide financial assistance to a...

5-28-14-8. Reimbursement Limitations and Amount - Sec. 8. (a) Reimbursement for booth rental fees incurred by...

5-28-14-9. Qualification for Assistance - Sec. 9. To qualify for financial assistance under this chapter,...

5-28-14-10. Policies and Guidelines - Sec. 10. The corporation may adopt policies and guidelines to...

Chapter 15. Enterprise Zones

5-28-15-0.2. Application of Certain Amendments to Prior Statute - Sec. 0.2. The addition of IC 4-4-6.1-1.7 (before its repeal,...

5-28-15-0.3. Certain Actions of Zone Business Considered Compliance With Prior Statute - Sec. 0.3. (a) As used in this section, "zone business"...

5-28-15-0.4. Certain Actions of Zone Business Considered Compliance With Prior Statute; State and Political Subdivision Authorized to Take Certain Actions; Fees and Payments - Sec. 0.4. (a) As used in this section, "board" refers...

5-28-15-0.5. Treatment of Certain Persons as Having Qualified for Incentives - Sec. 0.5. A person that: (1) did not qualify in...

5-28-15-1. "High Technology Business Operations"; "Advanced Computing"; "Advanced Materials"; "Biotechnology"; "Electronic Device Technology"; "Environmental Technology"; "Medical Device Technology" - Sec. 1. (a) As used in this chapter, "high technology...

5-28-15-2. "u.e.a." - Sec. 2. As used in this chapter, "U.E.A." refers to...

5-28-15-3. "Zone Business" - Sec. 3. As used in this chapter, "zone business" means...

5-28-15-4. Incentives Not Available to Certain Licensees; Exceptions - Sec. 4. (a) Except as provided in subsection (b): (1)...

5-28-15-5.7. Powers of an Urban Enterprise Association - Sec. 5.7. (a) Beginning after December 31, 2018, a zone...

5-28-15-7.3. Annual Summary of Tax Credits and Exemptions Claimed; Extension of Time; Denial of Incentives and Disqualification From Program for Noncompliance - Sec. 7.3. (a) A zone business that claims any of...

5-28-15-7.5. Disclosure of Confidential Information; Offense - Sec. 7.5. A summary submitted to the corporation or a...

5-28-15-8. Request for Records; Confidentiality of Records - Sec. 8. (a) This section applies to records and other...

5-28-15-10. Expiration of Enterprise Zone; Renewal - Sec. 10. (a) Except as provided in this section, an...

5-28-15-11. Closed or Inactive Military Base - Sec. 11. (a) Notwithstanding any other provision of this chapter,...

5-28-15-13. Urban Enterprise Associations; Establishment - Sec. 13. (a) There is established in each enterprise zone...

5-28-15-14. Powers and Duties of an Urban Enterprise Association - Sec. 14. (a) A U.E.A. shall do the following: (1)...

5-28-15-16. Job Training; Residents of Enterprise Zone - Sec. 16. Whenever federal or state money is available for...

5-28-15-17. State Pledge and Agreement - Sec. 17. The state pledges to and agrees with the...

Chapter 15.5. Entrepreneur and Enterprise District Pilot Program

5-28-15.5-1. Definitions - Sec. 1. The following definitions apply throughout this chapter: (1)...

5-28-15.5-2. Entrepreneur and Enterprise Districts; Designation; Territory; Board of Directors - Sec. 2. (a) The executive of a qualified municipality may...

5-28-15.5-3. Duration of Program - Sec. 3. A district expires on the later of the...

5-28-15.5-4. Powers; District Business Requirement to Assist District Board; Amount - Sec. 4. (a) A district board has the following powers,...

5-28-15.5-5. Ability of Corporation to Make Grants to District Boards From Indiana Twenty-First Century Research and Technology Fund; Amount of Grant; Uses - Sec. 5. (a) For each state fiscal year beginning after...

5-28-15.5-6. Annual Summary; Payments to District Board; Ability to Obtain Tax Records - Sec. 6. (a) Subject to subsection (c), a district business...

5-28-15.5-7. Duties of a District Board; Annual Reporting; Additional Reported Information for a District in Fort Wayne - Sec. 7. (a) A district board shall do the following:...

5-28-15.5-8. Powers of a District Board; Ability to Request Modification or Waiver of Municipal Ordinance - Sec. 8. (a) A district board may do the following:...

Chapter 16. Indiana Twenty-First Century Research and Technology Fund

5-28-16-1. "Fund" - Sec. 1. As used in this chapter, "fund" refers to...

5-28-16-2. Fund Established; Purpose; Administration; Budget Committee Review of Programs, Initiatives, and Investment Policies; Reporting Requirements; Budget Agency Review and Approval of Available Funding - Sec. 2. (a) The Indiana twenty-first century research and technology...

5-28-16-3. Application for Grant or Loan From Fund - Sec. 3. (a) This section does not apply to a...

5-28-16-4. Powers and Duties of Board; Reporting - Sec. 4. (a) The board has the following powers: (1)...

5-28-16-5. Administrative Expenses - Sec. 5. The corporation may use money in the fund...

5-28-16-6. Annual Report - Sec. 6. The corporation shall include the following information concerning...

Chapter 17. Small Business Development

5-28-17-1. Powers and Duties of Corporation - Sec. 1. (a) The corporation shall do the following to...

5-28-17-2. Debts of Small Business Development Corporation - Sec. 2. Debts incurred by the small business development corporation...

5-28-17-3. Access to Small Business Division - Sec. 3. If the corporation maintains a small business division...

5-28-17-4. Application of Chapter - Sec. 4. This chapter may not be construed to limit...

5-28-17-5. Repealed - As added by P.L.110-2010, SEC.11. Repealed by P.L.187-2014, SEC.14.

5-28-17-6. Small Business Ombudsman - Sec. 6. The corporation shall act as the small business...

Chapter 18. Small Business Development Fund

5-28-18-1. "Federal Income Poverty Level" - Sec. 1. As used in this chapter, "federal income poverty...

5-28-18-2. "Fund" - Sec. 2. As used in this chapter, "fund" refers to...

5-28-18-3. "Local Board" - Sec. 3. As used in this chapter, "local board" means...

5-28-18-4. "Local Pool" - Sec. 4. As used in this chapter, "local pool" includes...

5-28-18-5. "Nontraditional Entrepreneur" - Sec. 5. As used in this chapter, "nontraditional entrepreneur" means...

5-28-18-6. Findings of Fact; State Policy - Sec. 6. (a) The general assembly makes the following findings...

5-28-18-7. Fund Established; Administration; Investment; Reversion; Audit - Sec. 7. (a) The small business development fund is established...

5-28-18-8. Powers and Duties of Corporation - Sec. 8. (a) The corporation shall perform the following duties:...

5-28-18-9. Loan Application; Requirements - Sec. 9. A local board may apply for a loan...

5-28-18-10. Loan Award Criteria - Sec. 10. The corporation's criteria for awarding loans from the...

5-28-18-11. Loan Conditions - Sec. 11. A loan from the fund to a local...

5-28-18-12. "Eligible Entity"; Establishment of Local Investment Pool; Requirements of Articles of Incorporation or Bylaws - Sec. 12. (a) As used in this section, "eligible entity"...

5-28-18-13. Establishment of Local Opportunity Pool; Requirements of Articles of Incorporation or Bylaws - Sec. 13. (a) A local opportunity pool may be established...

5-28-18-14. Loans Not Lending of State Credit - Sec. 14. The making of loans from the fund does...

Chapter 19. Repealed - Repealed by P.L.87-2011, SEC.8.

Chapter 20. Small and Minority Business Financial Assistance Program

5-28-20-1. "Approved Lender" - Sec. 1. As used in this chapter, "approved lender" means...

5-28-20-2. "Fund" - Sec. 2. As used in this chapter, "fund" refers to...

5-28-20-3. "Loan" - Sec. 3. As used in this chapter, "loan" means a...

5-28-20-4. "Minority Business" - Sec. 4. As used in this chapter, "minority business" means...

5-28-20-5. "Minority Group" - Sec. 5. As used in this chapter, "minority group" means:...

5-28-20-6. "Owned and Controlled" - Sec. 6. As used in this chapter, "owned and controlled"...

5-28-20-7. "Program" - Sec. 7. As used in this chapter, "program" refers to...

5-28-20-8. "Small Business" - Sec. 8. As used in this chapter, "small business" has...

5-28-20-9. Program Established; Purpose - Sec. 9. The small and minority business financial assistance program...

5-28-20-10. Duties of Corporation - Sec. 10. The corporation shall do the following: (1) Establish...

5-28-20-11. Obligation of Program Not a Debt of State; Loans From Fund Not Lending of State Credit - Sec. 11. (a) An obligation of the program for losses...

5-28-20-12. Loans and Loan Guarantees; Conditions - Sec. 12. From the fund, the corporation shall: (1) guarantee...

5-28-20-13. Loans; Training Requirements - Sec. 13. In making loans from the fund, the corporation...

5-28-20-14. Training Consultants; Standards; Duties - Sec. 14. (a) The training required by section 13 of...

Chapter 21. Small Business Incubator Program

5-28-21-1. "Economically Disadvantaged Area" - Sec. 1. As used in this chapter, "economically disadvantaged area"...

5-28-21-2. "Fund" - Sec. 2. As used in this chapter, "fund" refers to...

5-28-21-3. "Incubator" - Sec. 3. As used in this chapter, "incubator" means a...

5-28-21-4. "Sponsor" - Sec. 4. As used in this chapter, "sponsor" means an...

5-28-21-5. "Tenant" - Sec. 5. As used in this chapter, "tenant" means a...

5-28-21-6. Establishment of Fund; Purpose; Repayments of Loans; Nonreversion - Sec. 6. (a) The small business incubator fund is established...

5-28-21-7. Application for Grant, Loan, or Loan Guarantee; Requirements - Sec. 7. A political subdivision (as defined in IC 36-1-2-13),...

5-28-21-8. Award of Grants, Loans, and Loan Guarantees; Criteria - Sec. 8. The corporation shall award grants, loans, and loan...

5-28-21-9. Use of Grants and Loans - Sec. 9. Grants and loans awarded or guaranteed under this...

5-28-21-10. Grant Amount Limits - Sec. 10. A grant under this chapter may not exceed...

5-28-21-11. Grant Use Limit - Sec. 11. An applicant for a grant may only use...

5-28-21-12. Loan or Loan Guarantee Amount Limits - Sec. 12. A loan or loan guarantee under this chapter...

5-28-21-13. Combined Grant and Loan or Loan Guarantee Amount Limits - Sec. 13. An applicant may apply for both a grant...

5-28-21-14. Loan Security - Sec. 14. (a) A loan under this chapter must be...

5-28-21-15. Leased Facilities; Conditions - Sec. 15. A grant, loan, or loan guarantee for an...

5-28-21-16. Deferral of Principal and Interest - Sec. 16. The corporation may defer payment of interest and...

5-28-21-17. Loan Interest Rate; Determination - Sec. 17. In order to establish a rate of interest...

5-28-21-18. Loan or Loan Guarantee Time Limits - Sec. 18. A loan or loan guarantee under this chapter...

5-28-21-19. Duties of Sponsors or Assistance Recipients - Sec. 19. A sponsor or an organization receiving assistance through...

5-28-21-20. Duties of Corporation - Sec. 20. The corporation has the following duties under this...

5-28-21-21. Repealed - As added by P.L.4-2005, SEC.34. Repealed by P.L.133-2012, SEC.46.

5-28-21-22. Advisory Committees - Sec. 22. The corporation may establish one (1) or more...

Chapter 22. Film Industry Development

5-28-22-1. Encouragement of Filming in Indiana - Sec. 1. The corporation shall encourage the filming of: (1)...

5-28-22-2. Corporation Duties - Sec. 2. (a) The corporation shall: (1) establish a close...

Chapter 23. Business Modernization and Technology

5-28-23-1. Powers and Duties of Corporation - Sec. 1. (a) The corporation shall contribute to the strengthening...

5-28-23-2. Debts of Business Modernization and Technology Corporation - Sec. 2. Debts incurred by the business modernization and technology...

5-28-23-3. Consideration of Projects - Sec. 3. The corporation shall consider projects involving the creation...

Chapter 24. Investment Incentive Program

5-28-24-1. "Municipality" - Sec. 1. As used in this chapter, "municipality" means a...

5-28-24-2. Establishment by Corporation; Purpose - Sec. 2. The corporation shall establish policies to carry out...

5-28-24-3. Award of Grants and Loans to Counties and Municipalities; Criteria - Sec. 3. (a) The corporation shall adopt policies and guidelines...

5-28-24-4. Loans to Businesses by Counties and Municipalities; Criteria; Approval of Loans by Corporation - Sec. 4. (a) The corporation shall establish criteria to guide...

5-28-24-5. Powers of Corporation - Sec. 5. The corporation may: (1) adopt policies and guidelines...

5-28-24-6. Use of Repayment Proceeds; Corporation Approval - Sec. 6. (a) The repayment proceeds of a loan made...

5-28-24-7. Grants From State Appropriated Funds - Sec. 7. The corporation may not make a grant from...

5-28-24-8. Loan Not General Obligation of County or Municipality; Determination of Reasonable Assurance of Repayment - Sec. 8. (a) A loan to a county or municipality...

5-28-24-9. Establishment and Purpose of Investment Incentive Fund; Administration - Sec. 9. (a) The investment incentive fund is established within...

Chapter 25. Industrial Development Grant Fund

5-28-25-1. "Eligible Entity" - Sec. 1. As used in this chapter, "eligible entity" means:...

5-28-25-2. "Fund" - Sec. 2. As used in this chapter, "fund" refers to...

5-28-25-3. "Industrial Development Program" - Sec. 3. As used in this chapter, "industrial development program"...

5-28-25-4. Fund Established; Powers of Corporation; Administration - Sec. 4. (a) The industrial development grant fund is established...

5-28-25-5. Grants; Use of Grants - Sec. 5. (a) The secretary of commerce, subject to the...

Chapter 26. Global Commerce Center Pilot Program

5-28-26-0.3. Findings Relating to Certain Counties; Legislation Particular to Counties Required - Sec. 0.3. (a) The counties served by the Eastern Indiana...

5-28-26-1. "Base Assessed Value" - Sec. 1. As used in this chapter, "base assessed value"...

5-28-26-2. "District" - Sec. 2. As used in this chapter, "district" means the...

5-28-26-3. "High Technology Activity" - Sec. 3. As used in this chapter, "high technology activity"...

5-28-26-4. "Hub" - Sec. 4. As used in this chapter, "hub" means a...

5-28-26-5. "Income Tax Base Period Amount" - Sec. 5. As used in this chapter, "income tax base...

5-28-26-6. "Income Tax Incremental Amount" - Sec. 6. As used in this chapter, "income tax incremental...

5-28-26-7. "Public Facilities" - Sec. 7. As used in this chapter, "public facilities" includes...

5-28-26-8. "Spoke" - Sec. 8. As used in this chapter, "spoke" means an...

5-28-26-9. "Tax Increment Revenues" - Sec. 9. As used in this chapter, "tax increment revenues"...

5-28-26-10. "Unit" - Sec. 10. As used in this chapter, "unit" means a...

5-28-26-11. Powers of Corporation - Sec. 11. The corporation may do the following: (1) Designate...

5-28-26-12. Designation of Global Commerce Center - Sec. 12. (a) If a district applies to the corporation...

5-28-26-13. Addition of Spokes to Global Commerce Center - Sec. 13. If a global commerce center is designated under...

5-28-26-14. List of Employers in Global Commerce Center - Sec. 14. (a) After a global commerce center is designated...

5-28-26-15. Deadline for Calculation of Income Tax Incremental Amount; Taxpayer Reporting - Sec. 15. (a) Before the first business day in October...

5-28-26-16. Establishment of Incremental Tax Financing Fund; Deposits; Distributions - Sec. 16. (a) The treasurer of state shall establish an...

5-28-26-17. Allocation of Tax Increment Revenues to District - Sec. 17. (a) A county fiscal body in which a...

5-28-26-18. Bonding to Provide Public Facilities in Global Commerce Center - Sec. 18. (a) A unit may issue bonds for the...

5-28-26-19. Establishment of Regional Economic Development Fund; Permitted Uses - Sec. 19. (a) The district shall establish a regional economic...

5-28-26-20. Expiration of Global Commerce Center Designation - Sec. 20. A global commerce center expires fifteen (15) years...

5-28-26-21. Corporation Discretion to Revoke Global Commerce Center Designation - Sec. 21. (a) The corporation may revoke the corporation's designation...

Chapter 27. Repealed - Repealed by P.L.175-2009, SEC.48.

Chapter 28. State Economic Incentives and Compliance Report

5-28-28-1. Applicability - Sec. 1. This chapter applies to grants, loans, and tax...

5-28-28-2. "Grant" - Sec. 2. As used in this chapter, "grant" refers to...

5-28-28-3. "Loan" - Sec. 3. As used in this chapter, "loan": (1) refers...

5-28-28-4. "Tax Credit" - Sec. 4. As used in this chapter, "tax credit" means...

5-28-28-5. Corporation to Publish an Economic Incentives and Compliance Report - Sec. 5. (a) The corporation shall: (1) submit an economic...

5-28-28-6. Economic Incentives and Compliance Report; Required Elements - Sec. 6. The economic incentives and compliance report required under...

5-28-28-7. Investigating Failure to Comply With Incentive Agreement; Reclaiming Grants, Loans, or Incentives - Sec. 7. (a) If, in the course of compiling information...

5-28-28-8. Incentive Recapture; Waiver or Modification - Sec. 8. (a) As used in this section, "recapture provision"...

5-28-28-9. Economic Incentives and Compliance Report; Statistical Summary Required - Sec. 9. (a) The economic incentives and compliance report required...

5-28-28-10. Economic Incentives and Compliance Report - Sec. 10. In addition to the other requirements of this...

Chapter 28.4. Shovel Ready Site Development Center

5-28-28.4-1. Establishment; Duties - Sec. 1. (a) As used in this section, "permit" means...

5-28-28.4-2. Programs to Assist Political Subdivisions - Sec. 2. (a) As used in this section, "office" means...

Chapter 28.5. Broadband Ready Communities Development Center

5-28-28.5-0.5. "Broadband Services" - Sec. 0.5. As used in this chapter, "broadband services" includes...

5-28-28.5-1. "Center" - Sec. 1. As used in this chapter, "center" refers to...

5-28-28.5-2. "Permit" - Sec. 2. As used in this chapter, "permit" means any...

5-28-28.5-3. "Project" - Sec. 3. As used in this chapter, "project" means the...

5-28-28.5-4. "Unit" - Sec. 4. As used in this chapter, "unit" means a...

5-28-28.5-5. Broadband Ready Communities Development Center Established; Duties - Sec. 5. The broadband ready communities development center is established...

5-28-28.5-6. Certification of Unit as Broadband Ready Community; Application; Approval - Sec. 6. (a) In addition to the duties set forth...

5-28-28.5-7. Procedure for Reviewing Applications and Issuing Permits for Projects - Sec. 7. (a) A unit that wishes to be certified...

5-28-28.5-8. Broadband Adoption; Procedure to Promote Broadband Adoption After Certification of Unit as Broadband Ready Community; Prohibitions - Sec. 8. (a) As used in this section, "broadband adoption"...

Chapter 29. Capital Access Program

5-28-29-1. "Agreement" - Sec. 1. As used in this chapter, "agreement" means an...

5-28-29-2. "Amount"; "Proceeds" - Sec. 2. As used in this chapter in connection with...

5-28-29-3. "Borrower" - Sec. 3. As used in this chapter, "borrower" means the...

5-28-29-4. "Capital Access Account" - Sec. 4. As used in this chapter, "capital access account"...

5-28-29-5. "Claim" - Sec. 5. As used in this chapter, "claim" means a...

5-28-29-6. "Early Loan" - Sec. 6. As used in this chapter, "early loan" means...

5-28-29-7. "Eligible Loan" - Sec. 7. As used in this chapter, "eligible loan" means...

5-28-29-8. "Enrolled Loan" - Sec. 8. As used in this chapter, "enrolled loan" means...

5-28-29-9. "Lender" - Sec. 9. As used in this chapter, "lender" means: (1)...

5-28-29-10. "Passive Real Estate Ownership" - Sec. 10. As used in this chapter, "passive real estate...

5-28-29-11. "Program" - Sec. 11. As used in this chapter, "program" refers to...

5-28-29-12. "Reserve Fund" - Sec. 12. As used in this chapter, "reserve fund" means...

5-28-29-13. Establishment; Purpose - Sec. 13. The capital access program is established. The purpose...

5-28-29-14. Duties - Sec. 14. The corporation shall do the following: (1) Administer...

5-28-29-15. Lender Eligibility - Sec. 15. A lender is eligible to participate in the...

5-28-29-16. Corporation Has No Legal or Equitable Interest; Consent of Corporation Unnecessary to Amend Documents - Sec. 16. Except upon the exercise of the corporation's right...

5-28-29-17. Eligible Loans - Sec. 17. (a) The following types of loans are eligible...

5-28-29-18. Loan Enrollment; Lender Actions - Sec. 18. (a) To enroll a loan under the program,...

5-28-29-19. Loan Enrollment; Corporation Actions - Sec. 19. When the corporation receives a loan enrollment form,...

5-28-29-20. Loan Enrollment; Partial Coverage Under the Program - Sec. 20. When filing a loan enrollment form, the lender...

5-28-29-21. Refinancing - Sec. 21. (a) In the case of a loan to...

5-28-29-22. Effect of Zero Balances; Effect of Recovery Under the Bankruptcy Laws - Sec. 22. (a) If the outstanding balance of an enrolled...

5-28-29-23. Creation of Reserve Fund Accounts - Sec. 23. Upon execution of an agreement between the lender...

5-28-29-24. Sufficient Funds Required - Sec. 24. The corporation may not accept loans for enrollment...

5-28-29-25. Premium Charges - Sec. 25. The lender shall determine the premium charges payable...

5-28-29-26. Reserve Fund; Corporation Control - Sec. 26. (a) All money credited to the reserve fund...

5-28-29-27. Reserve Fund; Corporation Pledges - Sec. 27. The corporation shall pledge the following to the...

5-28-29-28. Reserve Fund; Transaction Reports; Records - Sec. 28. (a) If the reserve fund is not maintained...

5-28-29-29. Claims; Filing - Sec. 29. (a) If the lender charges off all or...

5-28-29-30. Claims; Processing - Sec. 30. (a) Upon receipt by the corporation of a...

5-28-29-31. Claims; Subsequent Lender Recovery - Sec. 31. If, after payment of a claim by the...

5-28-29-32. Claims; Subrogation - Sec. 32. (a) If the payment of a claim has...

5-28-29-33. Reporting - Sec. 33. (a) Before July 16, October 16, January 16,...

5-28-29-34. Terminating the Obligation to Enroll Loans - Sec. 34. The corporation may terminate the obligation to a...

5-28-29-35. Capital Access Account - Sec. 35. (a) The corporation shall establish a capital access...

Chapter 30. Industrial Development Loan Guaranty Program

5-28-30-1. Repealed - As added by P.L.162-2007, SEC.25. Repealed by P.L.177-2018, SEC.7 and...

5-28-30-1.5. "Developer" - Sec. 1.5. As used in this chapter, "developer" means a...

5-28-30-2. "Guaranty Fund" - Sec. 2. As used in this chapter, "guaranty fund" refers...

5-28-30-3. "Guaranty Program" - Sec. 3. As used in this chapter, "guaranty program" means...

5-28-30-4. "High Growth Company With High Skilled Jobs" - Sec. 4. As used in this chapter, "high growth company...

5-28-30-5. "Industrial Development Project" - Sec. 5. As used in this chapter, "industrial development project"...

5-28-30-6. "Maturity Date" - Sec. 6. As used in this chapter, "maturity date" means...

5-28-30-7. "Mortgage" - Sec. 7. As used in this chapter, "mortgage" means a...

5-28-30-8. "Security Agreement" - Sec. 8. As used in this chapter, "security agreement" means...

5-28-30-8.5. "User" - Sec. 8.5. As used in this chapter, "user" means a...

5-28-30-9. Industrial Development Project Guaranty Fund - Sec. 9. There is created an industrial development project guaranty...

5-28-30-10. Power to Guarantee Loans and Leases - Sec. 10. Subject to the conditions set forth in section...

5-28-30-11. Conditions - Sec. 11. The conditions referred to in section 10 of...

5-28-30-12. Power to Guarantee an Unsecured Loan - Sec. 12. The corporation may guarantee an unsecured loan for:...

5-28-30-13. Premiums; Fees; Charges - Sec. 13. The corporation may establish: (1) guarantee premiums for...

5-28-30-14. Letters of Credit - Sec. 14. Any guarantee made by the corporation under this...

5-28-30-15. Legal Investments - Sec. 15. Notwithstanding any other law, loans or leases guaranteed...

5-28-30-16. Power to Allow Subordination - Sec. 16. To further the purposes of this chapter, and...

5-28-30-17. Power to Make Direct Loans - Sec. 17. To further the purposes of this chapter, and...

5-28-30-18. Proceeds of Sales - Sec. 18. All proceeds received by the corporation or the...

5-28-30-19. Expense; Reimbursement by Borrower - Sec. 19. Upon the issuance of a loan or a...

5-28-30-20. Transfer of Funds to the Capital Access Account - Sec. 20. To further the purposes of this chapter and...

5-28-30-21. Exemption From Securities Registration Laws - Sec. 21. Any guarantees by the corporation under the guaranty...

5-28-30-22. Power to Procure Insurance - Sec. 22. The corporation may procure insurance or guarantees from...

5-28-30-23. Powers in the Event of Default - Sec. 23. The corporation may take assignments of accounts receivable,...

Chapter 31. Repealed - Repealed by P.L.189-2018, SEC.56.

Chapter 32. Business Development Loan Fund

5-28-32-1. "Fund" - Sec. 1. As used in this chapter, "fund" refers to...

5-28-32-2. Establishment; Purpose - Sec. 2. The business development loan fund is established. The...

5-28-32-3. Sources of Money - Sec. 3. The fund consists of the following: (1) Money...

5-28-32-4. Power to Make Loans - Sec. 4. Subject to section 5 of this chapter, the...

5-28-32-5. Required Loan Agreement Terms - Sec. 5. With respect to any loan made under section...

Chapter 33. Repealed - Repealed by P.L.177-2018, SEC.9.

Chapter 34. Green Industries Fund

5-28-34-1. "Fund" - Sec. 1. As used in this chapter, "fund" means the...

5-28-34-2. "Green Industry" - Sec. 2. For the purposes of this chapter, "green industry"...

5-28-34-3. Establishment of Fund - Sec. 3. (a) The green industries fund is established. The...

5-28-34-4. Application for Grants or Loans - Sec. 4. (a) An Indiana manufacturing company may apply for...

Chapter 35. Repealed - Repealed by P.L.187-2014, SEC.15.

Chapter 37. Repealed - Repealed by P.L.237-2017, SEC.29.

Chapter 38. Repealed - Repealed by P.L.165-2021, SEC.63.

Chapter 39. Trademarks for Use on Indiana Products

5-28-39-1. "Trademark" - Sec. 1. As used in this chapter, "trademark" has the...

5-28-39-2. Distinctive Trademark; Registration - Sec. 2. (a) The corporation shall devise a distinctive trademark...

5-28-39-3. Application - Sec. 3. A person may apply to the corporation for...

5-28-39-4. Rules - Sec. 4. The corporation may adopt rules under IC 4-22-2...

Chapter 40. Small Business Innovation Voucher Program

5-28-40-1. "Eligible Small Business" - Sec. 1. As used in this chapter, "eligible small business"...

5-28-40-2. "Indiana Institution of Higher Education" - Sec. 2. As used in this chapter, "Indiana institution of...

5-28-40-3. "Other Authorized Research Provider" - Sec. 3. As used in this chapter, "other authorized research...

5-28-40-4. "Research Services" - Sec. 4. As used in this chapter, "research services" means...

5-28-40-5. "Voucher" - Sec. 5. As used in this chapter, "voucher" means a...

5-28-40-6. Small Business Innovation Voucher Program Established - Sec. 6. (a) The small business innovation voucher program is...

5-28-40-7. Voucher Awards; Uses - Sec. 7. (a) The corporation may award vouchers to an...

5-28-40-8. Authorization to Establish Guidelines for the Program; Application Process; Criteria; Amount of Voucher Award - Sec. 8. The corporation shall establish guidelines necessary to carry...

5-28-40-9. Requirement to Enter Into an Agreement With the Corporation as a Condition of Receiving a Voucher - Sec. 9. The following apply if the corporation determines a...

Chapter 41. Regional Economic Acceleration and Development Initiative (Readi)

5-28-41-1. "Development Authority" - Sec. 1. As used in this chapter, "development authority" includes:...

5-28-41-2. "Eligible Regional Economic Acceleration and Development Organization" - Sec. 2. As used in this chapter, "eligible regional economic...

5-28-41-3. "Fund" - Sec. 3. As used in this chapter, "fund" refers to...

5-28-41-4. "Qualified Nonprofit Organization" - Sec. 4. As used in this chapter, "qualified nonprofit organization"...

5-28-41-5. "Readi" - Sec. 5. As used in this chapter, "READI" refers to...

5-28-41-6. "Regional Economic Acceleration and Development Strategy" - Sec. 6. As used in this chapter, "regional economic acceleration...

5-28-41-7. Readi Fund; Purposes - Sec. 7. The READI fund is established within the state...

5-28-41-8. Fund Contents - Sec. 8. The fund consists of: (1) appropriations from the...

5-28-41-9. Administration of the Fund - Sec. 9. The corporation shall administer the fund. The following...

5-28-41-10. Investment of Money in the Fund - Sec. 10. The treasurer of state shall invest the money...

5-28-41-11. Reversion - Sec. 11. (a) Money in the fund at the end...

5-28-41-12. Powers of the Board - Sec. 12. The board has the following powers: (1) To...

5-28-41-13. Authorization to Form a Strategic Review Committee - Sec. 13. (a) The board may form a strategic review...

5-28-41-14. Required Considerations and Findings in Review of an Application - Sec. 14. (a) The board shall consider the following when...

5-28-41-15. Application Process - Sec. 15. (a) An eligible regional economic acceleration and development...

5-28-41-16. Policy Framework for a Readi Program; Approval by the Board; Review by the Budget Committee - Sec. 16. (a) Before July 1, 2021, the corporation shall...

Chapter 42. Hoosier Hospitality Small Business Restart Grant Program

5-28-42-1. "Eligible Entity" - Sec. 1. As used in this chapter, "eligible entity" means...

5-28-42-2. "Fund" - Sec. 2. As used in this chapter, "fund" means the...

5-28-42-3. "Program" - Sec. 3. As used in this chapter, "program" means the...

5-28-42-4. "Qualified Business" - Sec. 4. As used in this chapter, "qualified business" means...

5-28-42-5. "Sic Manual" - Sec. 5. As used in this chapter, "SIC Manual" means...

5-28-42-6. Program Established; Purpose - Sec. 6. (a) The Hoosier hospitality small business restart grant...

5-28-42-7. Establishment of Fund; Purpose - Sec. 7. (a) The small business restart grant fund is...

5-28-42-8. Award of Grants; Preference - Sec. 8. (a) The corporation shall establish and implement procedures...

5-28-42-9. Application for Grants - Sec. 9. (a) Subject to section 10 of this chapter,...

5-28-42-10. Maximum Grant Amounts - Sec. 10. (a) Subject to this section, a grant may...

5-28-42-11. Changes to Program Parameters - Sec. 11. The corporation may change any parameter of the...

5-28-42-12. Rules - Sec. 12. The corporation may adopt rules under IC 4-22-2...

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Indiana Code Title 5. State and Local Administration Article 28. Indiana Economic Development Corporation

Indiana Code
Title 5. State and Local Administration
Article 28. Indiana Economic Development Corporation