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Indiana State Legislative Update April 24, 2021

April 12, 2021 11:27 AM | Wendy Bayley (Administrator)


This past week marked the final week of committee work for the regular 2021 Indiana legislative session. Today and tomorrow bring key deadlines for all remaining legislation. Bills must move from second reading today and must pass a full chamber third-reading vote by the end of tomorrow, April 13. The end of this week and next week will be largely reserved for conference committee work, a process of reconciliation between changes that the House and Senate made to the respective chamber’s bills.

This session is expected to conclude all legislative activity by April 21. However, lawmakers will have to return to session later this year to enact redistricting legislation, a process that occurs every 10 years based on recent census data. Notably, the most recent version of the State budget contains language that delays the end of session until Nov. 15. Despite this new date, it is still expected that legislative activity will wrap up by April 21. The IMBA Legislative Team continues to monitor legislation for any possible concerns.


SB 332 – Publication of Notice by Political Subdivisions

Sen. Jim Buck (R-Kokomo)

Rep. Doug Miller (R-Elkhart)

Why it matters

Among other publication changes, the bill notably provides that if, with regard to a sheriff's sale of real property to execute a judgment, the sheriff is not able to procure publication of the notice in a newspaper of general circulation within the county, the sheriff may publish the notice on the website of each county where the real estate is located (instead of dispensing with the publication of notice entirely). This stated requirement was amended out of the bill in committee last week, leaving all other notices except sheriff’s sale with the ability to utilize the new provision. The IMBA generally supports the legislation that identifies more cost-effective ways for the consumer and the lender regarding publication costs and would like to see this language put back into the bill. The provision was amended back into the bill last week in conference committee.

Latest action

The bill received a hearing in conference committee last Thursday and will now be eligible for votes by the entire House and Senate in the coming weeks.

Learn more about SB 332

HB 1001 – State Budget

Rep. Tim Brown (R-Crawfordsville)

Sen. Ryan Mishler (R-Bremen)

Why it matters

The bill establishes Indiana’s operating budget for the coming two years. It also makes a number of other changes that fall outside of the budget drafting process, including an enhancement of the Venture Capital Investment Tax Credit, the creation of the Next Level Regional Recovery Fund to support economic development and regional recovery, and language that brings the Indiana tax code up to date with federal tax code changes made in 2020. The IMBA Legislative Team is monitoring the budget as it is amended through the process.

Latest action

The bill was amended in the Senate Appropriations Committee on April 8. It is now eligible for second-reading amendments.

Learn more about HB 1001

HB 1004 – Small Business Restart Grant Program

Rep. Shane Lindauer (R-Jasper)

Sen. Ryan Mishler (R-Bremen)

Why it matters

The bill establishes the Hoosier Hospitality Small Business Restart Grant Program to provide grants to eligible entities based on certain conditions. An eligible entity may apply for a grant under the program for a reimbursement of up to 80% of non-payroll business expenses and up to 100% of payroll expenses incurred in Indiana between March 1, 2020, and April 1, 2021. The amount of a grant to an eligible entity is not to exceed $10,000 for each month during the identified period that the entity can demonstrate a monthly gross revenue loss of at least 30% when compared to that entity’s average monthly gross revenue for calendar year 2019. The maximum total grant amount awarded to any eligible entity may not exceed $50,000. The program is to be administered by the Indiana Economic Development Corporation.

Latest action

The bill was concurred upon by the House author and received a concurrence vote in the House on April 5, passing by a vote of 94-3. It is now eligible to be signed by the governor into law.

Learn more about HB 1004

HB 1462 – Secretary of State Securities Division Matters

Rep. Bob Heaton (R-Terre Haute)

Sen. Travis Holdman (R-Markle)

Why it matters

The bill is the annual Indiana Securities Division legislation. The bill amends IC 23-19-4-12 to clarify that Indiana securities registrants are subject to current data breach disclosure requirements of IC 24-4.9 and may be subject to discipline for failure to comply. The bill also creates a new section to clarify that a federally registered mortgage loan originator is exempt from state licensure under the Indiana Loan Broker Act. The bill makes several other changes as well. The IMBA is monitoring the bill.

Latest action

The bill passed the Senate on third reading by a vote of 47-0 on April 8. It now awaits a concurrence or dissent by the House author.

Learn more about HB 1462

Contact Us:

@ Indiana Mortgage Bankers Association

19359 Alpine Drive

Lawrenceburg, IN  47025

Office: (812) 537-1003


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