§ 6-9-56-8 — Deposit of money in the tourism capital fund; uses and transfers of money in the fund

(a) The county treasurer shall deposit in the
tourism capital fund the amount of money received under section 3 of
this chapter that exceeds five percent (5%). Money deposited in the
tourism capital fund shall be transferred or expended only as provided
in this section.
(b) The commission must approve any transfer of money from the
tourism capital fund and may transfer money from the tourism capital
fund to support capital projects in the county that promote long term
tourism, convention, or recreation projects proposed by any of the
following:
(1) The county government.
(2) A city government.
(3) A separate body corporate and politic in Hamilton County.
(4) Any Indiana nonprofit corporation in Hamilton County.
The commission may transfer money under this subsection on a
monthly basis or at another frequency as determined by the
commission.
(c) The commission may also review and approve proposals
submitted by applicants that seek money from the tourism capital fund
with the purpose and view of enhancing or providing support for
capital projects that promote long term tourism, convention, or other
economic development related to recreation. Funding available under
this subsection shall be made available on an annual basis. In
determining whether to provide funding to a particular capital project
under this subsection, the commission may use the following factors as
a guide for capital project funding:
(1) The proposed capital project is believed to be economically
sound to the Hamilton County tourism, convention, or recreation
economy and is also believed to be beneficial to:
(A) the general population of Hamilton County; or
(B) a particular location in Hamilton County.
(2) The proposed capital project provides for reasonably adequate
public assembly, gathering, or entertainment space and is
integrally related to enhancing the tourism, convention, or
recreation opportunities in Hamilton County or a particular
location in Hamilton County.
(3) The commission makes a reasonable effort to assess whether
a proposed capital project aligns with the purpose of the
commission and has a direct, indirect, or supportive relationship
to the mission and promotional efforts of the commission as
established and funded by the convention, visitor, and tourism
promotion fund.
A capital project proposed by an applicant that does not meet at least
one (1) of the criteria set forth in this subsection will not be funded,
and any remaining funds collected revert to the tourism capital fund for
distribution by the commission on projects within Hamilton County.
(d) An applicant that receives a grant of money from the tourism
capital fund under subsection (c):
(1) must agree to provide to the commission proof of project
completion, including proof that the project was completed
through the use of the grant money; and
(2) may be subject to annual financial reporting and audit.

Legislative History

As added by P.L.236-2023, SEC.121.