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Engrossed House Bill (H)

DIGEST

Indiana finance authority matters. Provides that any proposed extension or amendment to certain public-private agreements that: (1) makes a substantial change to: (A) the scope of the public-private agreement; or (B) the uses of the revenue generated under the public-private agreement; or (2) results in a positive, new revenue impact of at least $1,000,000 under the public-private agreement being amended or extended shall be submitted to the state budget committee for review. Prohibits any extension or amendment to such a public-private agreement until after the state budget committee has reviewed the proposed extension or amendment. Allows the chairman of the Indiana finance authority matters. Provides that any proposed extension or amendment to certain public-private agreements that: (1) makes a substantial change to: (A) the scope of the public-private agreement; or (B) the uses of the revenue generated under the public-private agreement; or (2) results in a positive, new revenue impact of at least $1,000,000 under the public-private agreement being amended or extended shall be submitted to the state budget committee for review. Prohibits any extension or amendment to such a public-private agreement until after the state budget committee has reviewed the proposed extension or amendment. Allows the chairman of the state budget committee to waive these requirements. Specifies that any lump sum amounts or series of amounts totaling more than $1,000,000 received under such a public-private agreement must be held in reserve until May 1 of the calendar year following the calendar year in which the lump sum payment was received. ... View more