Indiana § 8-14-14.1-3 Establishment of the fund; transfers from the state general fund

Indiana Statutes

§ 8-14-14.1-3 — Establishment of the fund; transfers from the state general fund

Indiana § 8-14-14.1-3

Art. 14HIGHWAY FINANCES

Ch. 14.1Major Moves 2020 Trust Fund

This text of Indiana § 8-14-14.1-3 (Establishment of the fund; transfers from the state general fund) 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 § 8-14-14.1-3 (2026).

Text

(a)The major moves 2020 trust fund is established, to be used exclusively for major highway expansion projects that enhance the ability of goods to be transported in and through Indiana.

(b)The fund shall be administered by the department.

(c)Notwithstanding IC 5-13, the treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as money is invested by the Indiana public retirement system under IC 5-10.3-5. However, the treasurer of state may not invest the money in the fund in equity securities. The treasurer of state may contract with investment management professionals, investment advisors, and legal counsel to assist in the investment of the fund and may pay the state expenses incurred under those contracts from

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(a) The major moves 2020 trust fund is
established, to be used exclusively for major highway expansion
projects that enhance the ability of goods to be transported in and
through Indiana.
(b) The fund shall be administered by the department.
(c) Notwithstanding IC 5-13, the treasurer of state shall invest the
money in the fund not currently needed to meet the obligations of the
fund in the same manner as money is invested by the Indiana public
retirement system under IC 5-10.3-5. However, the treasurer of state
may not invest the money in the fund in equity securities. The treasurer
of state may contract with investment management professionals,
investment advisors, and legal counsel to assist in the investment of the
fund and may pay the state expenses incurred under those contracts
from the fund. Interest that accrues from these investments shall be
deposited in the fund.
(d) The fund consists of:
(1) money transferred to the fund under subsection (h); and
(2) any interest or other earnings on money in the fund.
(e) The fund is considered a trust fund for purposes of IC 4-9.1-1-7.
Money may not be transferred, assigned, or otherwise removed from
the fund by the state board of finance, the budget agency, or any other
state agency. IC 4-9.1-1-8 and IC 4-9.1-1-9 do not apply to the fund.
(f) Money in the fund at the end of a state fiscal year does not revert
to the state general fund.
(g) Money in the fund must be appropriated by the general assembly
to be available for expenditure.
(h) The budget agency may before July 1, 2015, direct the auditor
of state to transfer not more than two hundred million dollars
($200,000,000) to the fund from the state general fund. If the budget
agency directs the auditor of state to make such a transfer, the auditor
of state shall transfer to the fund the amount determined by the budget
agency. There is annually appropriated from the state general fund an
amount sufficient to make the transfer under this subsection. A transfer
under this subsection is in addition to any transfer from the state
general fund to the fund before January 1, 2014.