§ 8-14-1-11 — Local agency revolving fund; reimbursement; accounts receivable; transfer of funds

Indiana § 8-14-1-11

• Jurisdiction: Indiana
• Art. 14: HIGHWAY FINANCES
• Ch. 1: Motor Vehicle Highway Account Act

Text

(a) The department may create a local agency
revolving fund from money appropriated under section 3(7) of this
chapter for the purpose of maintaining a sufficient working balance in
accounts established primarily to facilitate the matching of federal and
local money for highway projects.
(b) The revolving fund balance must be maintained through
reimbursement from a local unit for money used by that unit to match
federal funds.
(c) If the local unit fails to reimburse the revolving fund, the
department shall notify the local unit that the department has found the
outstanding accounts receivable to be uncollectible.
(d) The attorney general shall review the outstanding accounts
receivable and if the attorney general agrees with the department's
assessment of the account's status, the attorney general shall certify to
the state comptroller that the outstanding accounts receivable is
uncollectible and request a transfer of funds as provided in subsection
(e).
(e) Upon receipt of a certificate as specified in subsection (d), the
state comptroller shall:
(1) immediately notify the delinquent local unit of the claim; and
(2) if proof of payment is not furnished to the state comptroller
within thirty (30) days after the notification, transfer an amount
equal to the outstanding accounts receivable to the department
from the delinquent local unit's allocations from the motor vehicle
highway account for deposit in the local agency revolving fund.
(f) Transfers shall be made under subsection (e) until the unpaid
amount has been paid in full under the terms of the agreement.
However, the agreement may be amended if both the department and
the unit agree to amortize the transfer over a period not to exceed five
(5) years.
(g) Money in the fund at the end of a fiscal year does not revert to
the state general fund.

Legislative History

As added by P.L.116-1989, SEC.1. Amended by P.L.1-1994, SEC.35; P.L.9-2024, SEC.289.