§ 8-14-14.1-5 — Transfer to major moves construction fund and state highway fund

Indiana § 8-14-14.1-5

• Jurisdiction: Indiana
• Art. 14: HIGHWAY FINANCES
• Ch. 14.1: Major Moves 2020 Trust Fund

Text

(a) After review by the budget committee, the
budget agency may, after June 30, 2015, and before July 1, 2016, direct
the auditor of state to transfer not more than one hundred million
dollars ($100,000,000) 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 appropriated from the state general fund an
amount sufficient to make the transfer under this subsection.
(b) After June 30, 2016, and before July 1, 2017, the auditor of state
shall transfer one hundred million dollars ($100,000,000) to the state
highway fund created by IC 8-23-9-54 from the state general fund.
There is appropriated from the state general fund an amount sufficient
to make the transfer under this subsection.
(c) Notwithstanding section 3(e) of this chapter, if one (1) or more
transfers under subsection (a) are made to the fund, the budget agency
may after review by the budget committee transfer from the fund to the
major moves construction fund established by IC 8-14-14-5 an amount
equal to the lesser of:
(1) one hundred million dollars ($100,000,000); or
(2) the total amount of any transfers under subsection (a) that are
made to the fund.
(d) Money that is transferred as described in subsection (c) may be
used for any purpose of the major moves construction fund.
(e) Notwithstanding section 3(e) of this chapter, the transfer under
subsection (b) to the state highway fund must be used only for
preserving or reconstructing existing state highways and bridges for
which the department is responsible.

Legislative History

As added by P.L.213-2015, SEC.102. Amended by P.L.146-2016, SEC.15.