Indiana Administrative Code Title 58 - ENTERPRISE ZONE BOARD
Indiana Administrative Code - Title 58: Enterprise Zone Board
Title 58 of the Indiana Administrative Code governs the Enterprise Zone Board, which oversees the administration and regulation of Indiana’s Enterprise Zone Program. This program is designed to stimulate economic growth and revitalization in distressed urban and rural areas through various incentives and development strategies.
Key Functions and Areas Covered Under Title 58:
Designation of Enterprise Zones
Criteria and procedures for designating specific geographic areas as enterprise zones.
Zone Business Certification
Requirements for businesses seeking certification to operate within an enterprise zone.
Eligibility conditions and application process.
Tax Incentives and Benefits
Provisions related to tax credits (e.g., investment cost credit, employee wage deductions).
Monitoring compliance with requirements to maintain eligibility.
Zone Resident and Employment Requirements
Employment targets or hiring requirements for zone residents.
Documentation and reporting obligations.
Compliance, Audits, and Revocation
Standards for ongoing compliance.
Procedures for audit, review, and possible decertification or denial of benefits.
Reporting and Evaluation
Annual reports by businesses and zone authorities.
Evaluation criteria for program effectiveness.
Administrative Authority:
The Indiana Economic Development Corporation (IEDC) oversees the Enterprise Zone Board, with Title 58 codifying the rules and procedural guidelines enforced by the board.
RELATED Blog
0 comments