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Committee reviews bill to codify IEDC president role and create Office of Entrepreneurship and Innovation
Summary
Senate Bill 516 would create an Office of Entrepreneurship and Innovation in the commerce vertical, recodify an IEDC president role, add IDD reporting and require notice before the IEDC buys parcels larger than 100 acres.
Senate Bill 516, presented by Senator Buchanan and carried in the House by Representative Lopez, would: (1) establish an Office of Entrepreneurship and Innovation within the commerce vertical to serve as a front door and coordinator for entrepreneurs and small businesses; (2) recodify the IEDC president role so the agency has a statutory president position reporting to the commerce vertical; (3) require additional transparency for innovation development districts (IDD) and similar entities; and (4) require IEDC to notify local executives before…
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