Legislative Review The 2011 legislative session ended over a week ago and I am still trying to catch up on sleep. I hope this week I will begin to get back to my normal routine (whatever that is). After session ends there is always a few weeks of getting adjusted to not heading to the Statehouse every day. I am certainly ready to get back to my five minute drive to work and hopefully find some time to do yard work and gardening, if it ever stops raining. Four months ago when session kicked off, it was no secret that we were facing many tough issues. We worked hard to address as many of these issues as possible. One of the top priorities was develop legislation which would place Indiana in a better economic climate and poise Indiana to be a fierce competitor in the 21st century job market. Economic development bills were crafted this legislative session to meet that goal. We wanted our legislation to stimulate job creation and incentivize employers to expand and relocate to Indiana. House Enrolled Act 1004 is a bill which will allow Indiana to better compete against our neighboring states. Under HB 1004, we have lowered the corporate tax rate from 8.5% to 6.5% over four years, beginning in fiscal year 2013. The current tax rate for corporations was seen as a hindrance to businesses looking to relocate to Indiana because it was the highest in the Midwest. Indiana will now be more competitive and be more appealing to businesses looking to relocate in this area. This bill will bring more companies to Indiana and create more jobs. Another positive change we made this session is to extend and increase the Venture Capital Investment tax credit program. This tax credit is critical in providing startup capital for fast-growing businesses. It was also a priority to help revitalize hard hit communities, especially those which have many empty factories and warehouses. We worked to make improvements to the Industrial Tax Credit so that these "dinosaur" buildings will not continue to sit empty. Hoosier employers now have an incentive to reutilize abandoned factories and warehouses, leading to economic growth and job creation within some of our hardest hit communities. These job creation provisions will provide our state and local communities with additional tools in the toolbox to spur hiring in the months ahead. Senate Enrolled Act 78 helps resolve this issue by only mandating that people who appear to be under the age of 40 be required to produce their I.D. to purchase alcohol. Ultimately, we all reach a certain age where it becomes clear that we are no longer at the young age of 21. We should not have a law in place which leads to more unnecessary hassles. There was much debate on what age should be used to stop checking ID and 40 years of age was the compromise that was finally agreed upon.
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