Indiana § 5-1.2-4.5-1 Applicability; extension or amendment; approval; review by the budget
committee

Indiana Statutes

§ 5-1.2-4.5-1 — Applicability; extension or amendment; approval; review by the budget committee

Indiana § 5-1.2-4.5-1

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1.2INDIANA FINANCE AUTHORITY

Ch. 4.5Public-Private Agreements and Certain Other

This text of Indiana § 5-1.2-4.5-1 (Applicability; extension or amendment; approval; review by the budget committee) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 5-1.2-4.5-1 (2026).

Text

(a)This section applies to a public-private agreement to which the authority is a party under IC 8-15.5 and that was originally entered into before January 1, 2013.

(b)If an extension or an amendment to a public-private agreement, which is proposed to be entered into after May 1, 2019, would require the approval of the authority at a meeting of the authority before taking effect, the authority shall submit the proposed extension or amendment to the public-private agreement to the budget committee established by IC 4-12-1-3 for its review. The budget committee may request that the authority or the department of transportation, or both, appear at a public meeting of the budget committee concerning the proposed extension or amendment to the public-private agreement. The authority may not en

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(a) This section applies to a public-private
agreement to which the authority is a party under IC 8-15.5 and that
was originally entered into before January 1, 2013.
(b) If an extension or an amendment to a public-private agreement,
which is proposed to be entered into after May 1, 2019, would require
the approval of the authority at a meeting of the authority before taking
effect, the authority shall submit the proposed extension or amendment
to the public-private agreement to the budget committee established by
IC 4-12-1-3 for its review. The budget committee may request that the
authority or the department of transportation, or both, appear at a
public meeting of the budget committee concerning the proposed
extension or amendment to the public-private agreement. The authority
may not enter into any extension or amendment to the public-private
agreement until after the budget committee has reviewed the proposed
extension or amendment.
(c) If the authority or the state receives a lump sum payment or a
series of payments totaling more than one million dollars ($1,000,000)
as a result of entering into any extension or amendment to the
public-private agreement in accordance with subsection (b), any
amount of that payment that is not obligated to cover any obligation
incurred or amounts owed by the authority or the state before the date
of the extension or amendment shall be deposited in a special payment
reserve fund to be administered by the authority.
(d) The money in the special payment reserve fund at the end of any
state fiscal year does not revert to any other fund.
(e) The authority shall invest or cause to be invested all the money
in the special payment reserve fund in one (1) or more fiduciary
accounts with a trustee that is a financial institution in accordance with
the authority's investment policy.
(f) The special payment reserve fund may not be used for any
purpose before May 1 of the year following the year in which the
payment was received. Thereafter, unless the use of the fund is
otherwise specified by law, the money in the fund shall be allocated
and distributed to the fund into which the payment would have
otherwise been deposited under IC 8-15.5.