From the Indianapolis Business Journal:
The Indiana Senate Tax and Fiscal Policy Committee unanimously passed legislation Tuesday meant to makes the state’s job-creation efforts more transparent to the general public.
Senate Bill 162, which now moves to the full Senate for consideration, would increase the amount of information made public when the Indiana Economic Development Corp. gives tax breaks and other incentives to companies to move to or expand in Indiana.
“It’s the public’s right to know how their tax dollars are being spent,” said Sen. Mike Delph, R-Carmel.
Under current law, the IEDC and the businesses that receive incentives are not required to release the records pertaining to the number of jobs created or the money handed out.
The incentives are not paid out until actual jobs are created, according to Eric Doden, the IEDC's new CEO.
The bill would require both the agency and the firms to present annual job creation and financial investment information to the public.
...
He said the goal is to tie tax dollars and job commitments to what they — the businesses — promised to do in advance.
Doden said the IEDC favors transparency and accountability but doesn’t want to do anything that puts at risk his organization’s ability to bring jobs to Indiana. He does, however, support the bill.
Indiana spends about $142 per capita on corporate subsidies, according to a recent New York Times study, but that's far less than many other states.
http://www.ibj.com/bill-to-make-iedc-more-transparent-moves-to-full-senate/PARAMS/article/39147
