§ 5-28-17-1 — Powers and duties of corporation

Indiana § 5-28-17-1

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 28: INDIANA ECONOMIC DEVELOPMENT
• Ch. 17: Small Business Development

Text

(a) The corporation shall do the following to
carry out this chapter:
(1) Contribute to the strengthening of the economy of Indiana by
encouraging the organization and development of new business
enterprises, including technologically oriented enterprises.
(2) Approve and administer loans from the small business
development fund established by IC 5-28-18.
(3) Conduct activities for nontraditional entrepreneurs under IC 5-28-18.
(4) Establish and administer the small and minority business
financial assistance program under IC 5-28-20.
(5) Assist small businesses in obtaining state and federal tax
incentives.
(6) Develop and advertise a means to allow for small businesses
and local units of government to report duplicative state reporting
requirements through a web page maintained on the corporation's
website.
(7) Beginning in 2018, not later than August 31 of each year,
report the information received during the previous twelve (12)
months under subdivision (6) to the house of representatives'
standing committee that is responsible for government reduction.
(8) Operate the Indiana small business development centers.
(9) Maintain, through the small business development centers, a
statewide network of public, private, and educational resources to
inform, among other things, small businesses of the state and
federal programs under which the businesses may obtain financial
assistance or realize reduced costs through programs such as the
small employer health insurance pooling program under IC 27-8-5-16(8).
(b) The corporation may do the following to carry out this chapter:
(1) Receive money from any source, enter into contracts, and
expend money for any activities appropriate to its purpose.
(2) Do all other things necessary or incidental to carrying out the
corporation's functions under this chapter.
(3) Establish programs to identify entrepreneurs with marketable
ideas and to support the organization and development of new
business enterprises, including technologically oriented
enterprises.
(4) Conduct conferences and seminars to provide entrepreneurs
with access to individuals and organizations with specialized
expertise.
(5) Establish a statewide network of public, private, and
educational resources to assist the organization and development
of new enterprises.
(6) Cooperate with public and private entities, including the
Indiana Small Business Development Center Network and the
federal government marketing program, in exercising the powers
listed in this subsection.
(7) Establish and administer the small and minority business
financial assistance program under IC 5-28-20.
(8) Approve and administer loans from the small business
development fund established by IC 5-28-18.
(9) Develop and administer programs to support the growth of
small businesses.
(10) Coordinate state funded programs that assist the organization
and development of new enterprises.

Legislative History

As added by P.L.4-2005, SEC.34. Amended by P.L.56-2009, SEC.3; P.L.87-2011, SEC.3; P.L.133-2012, SEC.44; P.L.187-2014, SEC.13; P.L.139-2017, SEC.3; P.L.237-2017, SEC.24; P.L.86-2018, SEC.22; P.L.1-2025, SEC.72.