Joint Resolution 0005
DIGEST OF SJ0005 (Updated January 24, 2008 2:56 pm - DI 84)
Next generation trust fund. Establishes the Next Generation Trust Fund (fund) with a principal of $500 million. Provides that the principal of the fund may not be decreased. Requires the general assembly to provide by law for the custody and investment of the fund principal. Provides that the general assembly may appropriate the interest and other income derived from the fund only for the provision of highways, roads, and bridges for the benefit of the people of Indiana and the users of those facilities. Provides that on June 30 following approval of the amendment to establish the fund, $500 million is transferred from the state general fund or from other sources provided by law by the general assembly to establish the principal of the fund. This proposed amendment has not been previously agreed to by a general assembly.
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