LEGISLATIVE SERVICES AGENCY
OFFICE OF FISCAL AND MANAGEMENT ANALYSIS
200 W. Washington St., Suite 301
Indianapolis, IN 46204
(317) 233-0696
iga.in.gov
FISCAL IMPACT STATEMENT
LS 6699 NOTE PREPARED: Jan 9, 2021
BILL NUMBER: HB 1491 BILL AMENDED:
SUBJECT: Tourism Development.
FIRST AUTHOR: Rep. Moed BILL STATUS: As Introduced
FIRST SPONSOR:
FUNDS AFFECTED: X GENERAL IMPACT: State
DEDICATED
FEDERAL
Summary of Legislation: This bill establishes the Tourism Industry Recovery Fund to provide loans and
grants to promote, encourage, and support travel and tourism in Indiana in light of the effects of the
coronavirus disease (COVID-19) pandemic. It provides that the fund is administered by the Indiana
Destination Development Corporation (IDDC). The bill requires the IDDC to establish criteria for loans and
grants. It allows the IDDC to award loans and grants from the fund.
The bill makes an appropriation.
Effective Date: Upon passage.
Explanation of State Expenditures: Indian Destination Development Corporation (IDDC): The bill’s
requirements represent an additional workload [and/or expenditure] on the Indiana Destination Development
Corporation (IDDC) outside of routine administrative functions, and existing staffing and resource levels,
if currently being used to capacity, may be insufficient for full implementation.
The bill requires the IDDC to administer the Tourism Industry Recovery Fund to provide loans and grants
to entities engaged in the travel, tourism, or hospitality industry that were impacted by the COVID-19
pandemic. The fund consists of: appropriations by the General Assembly; grants, gifts, and donations
intended for deposit in the fund; and loan repayments. The IDDC is required to establish the eligibility,
criteria, and amounts for the loans and grants. The IDDC also is required to determine the terms and interest
rates of loans. The IDDC may seek recommendations from the board when making a determination on
whether to approve or reject an application for a loan or grant.
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The bill provides for an appropriation of $10 M to the IDDC for carrying out the purposes of the Tourism
Industry Recovery Fund. The appropriation will likely be from the state General Fund.
Explanation of State Revenues:
Explanation of Local Expenditures:
Explanation of Local Revenues:
State Agencies Affected: Indiana Destination Development Corporation.
Local Agencies Affected:
Information Sources:
Fiscal Analyst: Seth Payton, 317-233-3546.
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