5-28-5-1. Economic Development Functions
Sec. 1. The corporation shall carry out the economic development functions of the state in conformity with the laws enacted by the general assembly. As added by P.L.4-2005, SEC.34.
5-28-5-10. Reimbursement of Employee Expenses
Sec. 10. An employee of the corporation is entitled to reimbursement for traveling expenses as provided under IC 4-13-1-4 and other expenses actually incurred in connection with the employee’s duties as approved by the budget agency. As added by P.L.4-2005, SEC.34.
5-28-5-11. Request for Appropriations
Sec. 11. The corporation may request appropriations from the general assembly to: (1) carry out the corporation’s duties under this article; and (2) fund economic development and job creation programs. As added by P.L.4-2005, SEC.34.
5-28-5-12. Promotion Fund
Sec. 12. (a) The Indiana promotion fund is established within the state treasury. (b) Except as provided in section 13 of this chapter, the corporation shall deposit the following in the fund: (1) All funding received from the private sector under IC 5-28-6-1(6). (2) All other gifts, donations, bequests, devises, and contributions received by the […]
5-28-5-13. Nonprofit Subsidiary Corporation
Sec. 13. (a) Notwithstanding section 12 of this chapter, the board may establish a nonprofit subsidiary corporation to solicit and accept private sector funding, gifts, donations, bequests, devises, and contributions. (b) A subsidiary corporation established under this section: (1) must use money received under subsection (a) to carry out in any manner the purposes and […]
5-28-5-14. Fees and Charges
Sec. 14. The corporation may fix and revise periodically, and charge and collect, fees and charges that the corporation determines to be reasonable in connection with: (1) the corporation’s loans, guarantees, advances, insurance, commitments, and servicing; and (2) the use of the corporation’s services or facilities. As added by P.L.162-2007, SEC.21.
5-28-5-15. Powers in the Event of Default
Sec. 15. The corporation may take assignments of accounts receivable, loans, guarantees, insurance, notes, mortgages, security agreements securing notes, and other forms of security, attach, seize, or take title by foreclosure or conveyance to an economic development project when a guaranteed loan on the economic development project is clearly in default and when in the […]
5-28-5-16. Recommendations; Economic Development Tools; Local Communities in Distressed Areas
Sec. 16. The corporation may study and develop recommendations for economic development tools for local communities in distressed areas, particularly within the city of Elkhart, the city of Gary, and the city of Indianapolis, where: (1) the unemployment rate within the local community is greater than the state unemployment rate; or (2) twenty percent (20%) […]
5-28-5-2. Grant of Necessary and Appropriate Powers
Sec. 2. The corporation is granted all powers necessary or appropriate to carry out the corporation’s public and corporate purposes under this chapter. As added by P.L.4-2005, SEC.34.
5-28-5-3. Employees and Agents; Contracts
Sec. 3. (a) Subject to approval by the budget agency, the corporation may, without the approval of the attorney general, employ legal counsel, technical experts, and other officers, agents, and employees, permanent or temporary, the corporation considers necessary to carry out the efficient operation of the corporation. (b) 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, and terms of service for persons employed by the corporation as employees or as independent contractors. (b) The board may adopt a resolution providing that the corporation’s employees who are eligible to participate in the public employees’ retirement fund under the eligibility requirements set forth […]
5-28-5-5. Ethics
Sec. 5. The board and the employees of the corporation are: (1) under the jurisdiction of and rules adopted by the state ethics commission; and (2) subject to ethics rules and requirements that apply to the executive branch of state government. However, the board may adopt additional ethics rules and requirements that are more stringent […]
5-28-5-6. Advisory Committee
Sec. 6. The board shall establish an advisory committee to advise the board and the corporation on issues determined by the board. The advisory committee must: (1) have members that represent diverse geographic areas and economic sectors of Indiana; and (2) include members or representatives of local economic development organizations. As added by P.L.4-2005, SEC.34.
5-28-5-6.5. Small Business Division
Sec. 6.5. The board may maintain a small business division to carry out the corporation’s duties under IC 5-28-17. The board shall staff the division with employees of the corporation. As added by P.L.56-2009, SEC.2. Amended by P.L.187-2014, SEC.12; P.L.145-2016, SEC.5.
5-28-5-7. Contract, Tort, and Civil Rights Claims
Sec. 7. For purposes of IC 34-13-2, IC 34-13-3, and IC 34-13-4, the board and the employees of the corporation are public employees (as defined in IC 34-6-2-38). As added by P.L.4-2005, SEC.34.
5-28-5-8. Adoption of Rules; Emergency Rules
Sec. 8. (a) The corporation shall adopt rules under IC 4-22-2 to carry out its duties under this article. The board may also adopt emergency rules under IC 4-22-2-37.1 to carry out its duties under this article. (b) An emergency rule adopted under subsection (a) expires on the expiration date stated in the rule. (c) […]
5-28-5-9. Public Meetings and Public Records Laws
Sec. 9. Except as specifically provided by law, the corporation and the board are subject to IC 5-14-1.5 and IC 5-14-3. As added by P.L.4-2005, SEC.34.