A bill designed to promote economic revitalization in Indiana communities has received strong approval in the Indiana house.
State Representative Tom Dermody of LaPorte says his bill addresses the issue of enterprise zones and Indiana’s current law that disallows the development of more areas where they can be applied.
Enterprise zones allow tax deductions and credits for job creation in certain areas of a community. According to a press release from Dermody’s offices, the bill would allow certain communities to extend the life of their existing enterprise zones by five years after hitting their expiration date. New municipalities would also be able to designate themselves as an enterprise zone.
All enterprise zones in the state are planned to be phased out by 2030. Dermody said in a statement that local governments can use the tool to help generate economic development and help communities impacted by blighted properties.
The Indiana House passed the bill, unanimously.