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Enrolled House Bill (H)

Authored by

DIGEST

Financing and transportation. Adds a new article to the Indiana Code to consolidate and rewrite various statutes related to the Indiana finance authority (IFA), including statutes: (1) establishing the IFA; (2) specifying the powers, duties, and purposes of the IFA and the members of the IFA; and (3) governing the following programs and funds administered by the IFA: (A) State facility financing, health facility financing, educational facility financing, recreational development financing, and economic development project financing. (B) The wastewater revolving loan program, the drinking water revolving loan program, the supplemental drinking water and wastewater assistance program, and the environmental remediation Financing and transportation. Adds a new article to the Indiana Code to consolidate and rewrite various statutes related to the Indiana finance authority (IFA), including statutes: (1) establishing the IFA; (2) specifying the powers, duties, and purposes of the IFA and the members of the IFA; and (3) governing the following programs and funds administered by the IFA: (A) State facility financing, health facility financing, educational facility financing, recreational development financing, and economic development project financing. (B) The wastewater revolving loan program, the drinking water revolving loan program, the supplemental drinking water and wastewater assistance program, and the environmental remediation revolving loan program. (C) The flood control revolving fund. (D) The infrastructure assistance program. (E) The local infrastructure program. (F) The allocation of volume cap under federal law for private activity bonds. (G) The IFA's duty to monitor and study water quality. Repeals the existing statutes governing those programs and funds. Changes program and fund names. Repeals the statutes concerning: (1) funding and insurance for export promotion; (2) the clean coal technology program; (3) the agricultural loan and rural development project guarantee fund; (4) the issuance of bonds for the underground petroleum storage tank excess liability fund; (5) the powers of the IFA related to substitute natural gas contracts; and (6) the broadband development program administered by the IFA. Provides for the state, the IFA, and the northwest Indiana regional development authority to finance the northern Indiana commuter transportation district's construction of the mainline double tracking project and the West Lake corridor project. Repeals the law relating to the former next generation trust fund (the fund has no principal). Establishes a new next generation trust fund to be used exclusively for the provision of highways, roads, and bridges. Provides that the principal of the trust may be used to make and secure lease rental payments that are payable from grant proceeds from the federal government and will be used to pay bonds or notes issued by the Indiana finance authority for a rail project. Transfers to the new next generation trust fund the amount in excess of $250,000,000 that is in the next level Indiana trust fund. Provides immunity from civil liability for officers, directors, and employees of the Indiana finance authority and the treasurer of state for transfers made from the next level Indiana trust fund to the new next generation trust fund. Modifies the investment policy requirements for the next level Indiana trust fund. Requires the IFA to include in a request for proposals a statement that it will consider only offerors that have experience and quality performance in comparable projects in North America in the last two years with regard to entering into a public-private partnership for a toll road, freeway, or facility project. Requires the IFA to consider affiliates of the offeror, predecessors to the offeror, and parties that would be entering into a substantive contract with the offeror. Requires a resubmission of certain information from an offeror before the IFA holds the public meeting announcing its final selection. Requires, instead of allows, the IFA to require the filing of financial statements for the term of the public-private agreement. Eliminates using a public-private partnership for a communications infrastructure project. Continues current law appropriations for the wastewater and drinking water programs. Specifies that the budget agency may (rather than shall) submit a proposed guarantee or direct loan under the industrial development loan guaranty program to the budget committee for review. (The Indiana economic development corporation may not make or guarantee such a loan unless it is reviewed by the budget committee.) Specifies documents that must accompany a loan or financial assistance from: (1) the drinking water or wastewater revolving loans funds; (2) the Indiana brownfields fund; (3) the flood control fund; and (4) local transportation infrastructure revolving funds. Provides that the revenues securing the Marion County health and hospital corporation's debt and rental obligations are special revenues and provides a lien on these revenues. Changes cross references to statutes that are being repealed and rewritten by the bill. Makes conforming and technical changes. Adds two at-large members to the board of trustees of the Indiana state museum and historic sites corporation. Urges the legislative council to assign to a study committee the subject of requiring performance and payment bonds for future public-private projects. ... View more