summary
Introduced
01/09/2025
01/09/2025
In Committee
01/09/2025
01/09/2025
Crossed Over
Passed
Dead
04/24/2025
04/24/2025
Introduced Session
2025 Regular Session
Bill Summary
Nondisclosure agreements in economic development. Provides that the Indiana economic development corporation, the state, any instrumentality of the state, or any other public authority, or any party negotiating on behalf of any of those entities, may not, after June 30, 2025, enter into an economic development agreement or contract that contains any provision, clause, or language that provides that the agreement or contract, or any of its terms, is confidential, or that the parties to the agreement or contract are prohibited from disclosing, discussing, describing, or commenting upon the terms of the agreement or contract.
AI Summary
This bill prohibits the Indiana Economic Development Corporation (IEDC), the state, state instrumentalities, public authorities, or their negotiating parties from entering into any economic development agreements after June 30, 2025, that contain confidentiality provisions or restrict disclosure of contract terms. Specifically, the bill applies to a wide range of economic development incentives, including tax incentives, payments in lieu of taxes, tax abatements, bonds, notes, loans, grants, and other economic development incentives. The legislation aims to increase transparency by ensuring that the details of economic development agreements are not kept secret, allowing public entities and the public to have full access to and understanding of the terms of economic development contracts. This approach promotes accountability and allows for public scrutiny of how state economic development resources and incentives are being used.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
First reading: referred to Committee on Government and Regulatory Reform (on 01/09/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://iga.in.gov/legislative/2025/bills/house/1264/details |
| BillText | https://iga.in.gov/pdf-documents/124/2025/house/bills/HB1264/HB1264.01.INTR.pdf |
| Fiscal Note #1: Introduced | https://iga.in.gov/pdf-documents/124/2025/house/bills/HB1264/fiscal-notes/HB1264.01.INTR.FN001.pdf |
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