Indiana § 36-9-43-9 Regional development authority infrastructure fund; establishment;
administration; uses; supplemental funding for regional transportation
infrastructure projects

Indiana Statutes

§ 36-9-43-9 — Regional development authority infrastructure fund; establishment; administration; uses; supplemental funding for regional transportation infrastructure projects

Indiana·Title 36 LOCAL GOVERNMENT·Art. 9 TRANSPORTATION AND PUBLIC WORKS·Ch. 43 Regional Funding of Transportation Infrastructure

(a)This section applies only to a regional development authority created or established after June 30, 2017.

(b)The Indiana finance authority shall create the regional development authority infrastructure fund for the purpose of allowing a regional development authority to finance or contribute to the financing of regional transportation infrastructure projects.

(c)The fund is administered by the Indiana finance authority. The Indiana finance authority shall create an account within the fund for each regional development authority established under IC 36-7.5 or IC 36-7.6.

(d)A person, including a political subdivision, may make a contribution or gift to the fund. Any expenditure from the account must be approved by the regional development authority that holds the account within the fu

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(a) This section applies only to a regional
development authority created or established after June 30, 2017.
(b) The Indiana finance authority shall create the regional
development authority infrastructure fund for the purpose of allowing
a regional development authority to finance or contribute to the
financing of regional transportation infrastructure projects.
(c) The fund is administered by the Indiana finance authority. The
Indiana finance authority shall create an account within the fund for
each regional development authority established under IC 36-7.5 or IC 36-7.6.
(d) A person, including a political subdivision, may make a
contribution or gift to the fund. Any expenditure from the account must
be approved by the regional development authority that holds the
account within the fund and must be expended for regional
transportation infrastructure projects in cooperation with the Indiana
department of transportation.
(e) An expenditure from the fund may be used to supplement
financing from the Indiana department of transportation for regional
transportation infrastructure projects.
(f) The Indiana finance authority shall invest money from the fund
in one (1) or more fiduciary accounts with a trustee that is a financial
institution. A trustee may make an investment under this subsection in
accordance with a trust agreement or indenture and may permit
disbursements by the trustee to:
(1) the Indiana finance authority;
(2) the Indiana department of transportation;
(3) the state budget agency; or
(4) any other person provided for in the trust agreement or
indenture.
(g) Interest or other income earned on money in the fund becomes
part of the fund.
(h) Expenses incurred in the administration of the fund are to be
paid from the fund.
(i) A person who makes a contribution or gift to the fund is entitled
to a deduction from the taxpayer's adjusted gross income for the taxable
year under IC 6-3-2-26.

Indiana § 36-9-43-9 (Regional development authority infrastructure fund; establishment; administration; uses; supplemental funding for regional transportation infrastructure projects) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.