Indiana Senate Democratic Caucus on Economic Recovery

I am just putting this out - if anyone is reading and wants to comment, then go for it.

Indiana Senate Democratic Caucus: Economic Recovery Package: Investing in Indiana's Industries and Businesses:

"Investing in Indiana's Industries and Businesses"

To maintain our current industrial base, help existing Indiana industries reduce production costs by providing funds for plant modernization, energy efficiencies, and other capital projects.

$50 million HR1 Fiscal Stabilization Fund

Action 2: Fully Fund "Innovation Alliance"
To become a global leader in research, innovation and biosciences job growth, invest in fundamental bioscience building blocks of university and corporate technology, developing and attracting talent and providing matching fund capital.

$70 million HR1 Fiscal Stabilization Fund

Action 3: Fully Fund "Nanotech Initiative"
To support the Midwest Academy of Nanoelectronics and Architecture and to make Indiana the nation's leader in nanotechnology research, increase the state's investment in this public/private partnership.

$10 million HR1 Fiscal Stabilization Fund

Action 5: Restore funding for "High Growth Fund"
To compete for expansion and attraction opportunities with companies that engage in technology-intensive, high value-added activities paying above average wages, restore appropriation.

$6 million State Funds

Action 6: Restore funding for "Tourism Promotion"
To replace funds cut from Governor's budget recommendation and to promote tourism as an important industry in Indiana, restore appropriation.

$10 million State Funds

Action 7: Expand Broadband to Rural and Unserved Areas
To deploy wireless and traditional broadband services for economic development purposes, direct the Office of Community and Rural Affairs to create a competitive grant program for small towns and rural communities. OCRA should seek funding from the $1.35 billion grant fund.

$20 million est. HR1 Broadband and Wireless Deployment Grant

Action 8: Adopt SB 448 (Charbonneau, Broden) IT Tax Credit
Creates personal property tax exemption for IT equipment for businesses with high wage jobs. Recommend the $30 million threshold be lowered to $10 million.

Action 9: Adopt HB 1434 (Yarde) New Business Recruitment Grants
To provide additional resources to local economic development organizations serving counties with an unemployment rate of greater than 8%, directs IEDC to establish a New Business Recruitment Grant Fund.

Action 10: Adopt SB 499 (Skinner) Preference to Green Industries
To expand Indiana's focus on environmentally-conscious industries, direct IEDC to give special emphasis to those businesses and manufacturers producing or using biofuels when considering incentive packages and grants.

Action 11: Adopt SB 300 (Merritt, Errington) Net Metering
To encourage the use of renewable energy sources and to keep the cost of electricity low in Indiana, adopt Net Metering for production of power by users that is sold back to the grid.

Action 12: Expand "Healthy Indiana Plan" to Small Businesses
To encourage small business owners to provide employee health insurance and to keep costs low, implement a small business buy-in plan and explore an expansion of HIP to more uninsured adults.

The references to federal stimulus funding are based on House Resolution 1, passed by the U.S. Representatives. The proposal is offered as a road map with the knowledge that the U.S. Senate version and the Conference Committee compromise will undoubtedly change funding amounts, formulas, and restrictions.

Indiana Senate Democratic Caucus: Economic Recovery Package: Investing in Indiana's Educational Modernization: "Investing in Indiana's Educational Modernization

Action 1: School Repair and Modernization Projects
To reduce carbon footprint of schools and to modernize/update classrooms, labs and equipment, direct the IDOE to immediately solicit proposals from Indiana schools to meet the 30-day deadline in the 'use it or lose it' grant program.

$248 million HR1 School R&R

Action 2: School Technology Investment Projects
Direct the DOE to create a grant program aimed at improving access to technology for Indiana schools with first half of the projects due on July 1, 2009.

$16 million HR 1 School Technology"

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Action 4: Immediate Approval of University Building Projects
To create immediate jobs and much needed classroom improvements and to take advantage of very low interest rates, direct the Budget Agency to release all construction projects previously appropriated by the General Assembly.

$228.3 million State Debt Service