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Joint Resolution 0002


Joint Resolution 0002

ARCHIVE (2009)

Latest Information

 

DIGEST OF SJ0002 (Updated February 23, 2009 4:32 pm - DI 84)


Next generation trust fund. Establishes the next generation trust fund (fund) in the Constitution of the State of Indiana. 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 the next business day after approval of the amendment to establish the fund, the balance of the principal in the statutory next generation trust fund is transferred to and becomes the principal of the fund established in the Constitution, and the balance of the interest and earnings in the statutory next generation trust fund is transferred to and becomes the interest and earnings of the fund established in the Constitution. This proposed amendment has not been previously agreed to by a general assembly. .
    Current Status:
     In Committee - 2nd House
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