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Senate Bill 0259


Senate Bill 0259

ARCHIVE (2006)

Latest Information

 

DIGEST OF SB 259 (Updated March 14, 2006 5:52 pm - DI 44)


Stadium funding. Provides immunity from personal liability and accountability to the members, executive director, officers, and employees of the Indiana stadium and convention building (ISCB) authority for acts authorized by the ISCB authority's enabling statute. Provides conditions under which the ISCB authority may negotiate with a single bidder. Permits the ISCB authority to waive payment bond and performance bond requirements for contracts for capital improvement projects under certain conditions if an adequate alternative is provided. Provides for the termination of the annual capture of $11,000,000 of state revenue for use to pay obligations owed by the Marion County capital improvement board to the Indiana stadium and convention building authority or a state agency. Provides that after January 1, 2010, the annual capture terminates in the year following the first year when none of the obligations remain outstanding.
    Current Status:
     Law Enacted
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