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Senate Bill 0352


Senate Bill 0352

ARCHIVE (2012)

Latest Information

 

DIGEST OF INTRODUCED BILL


Redevelopment commissions and authorities. Specifies that a redevelopment commission, a department of redevelopment, and a redevelopment authority are subject to audit by the state board of accounts and covered by the public meeting, public records, and public works laws. Prohibits a redevelopment commission, authority, or department, or a designee holding company from owning, leasing, or holding a single family dwelling or condominium unit. Provides that if a redevelopment commission member or advisor or a redevelopment authority board member owns, directly or indirectly, more than 10% of a business entity, the individual is considered an owner of that business entity for purpose of determining whether the member or advisor has a pecuniary interest in a proposed contract, employment, purchase, or sale. Provides that if a private business entity specifically proposes a capital improvement that the business entity will benefit from after completion, and financing by a redevelopment commission or redevelopment authority is proposed of at least $4,000,000 the redevelopment commission or authority may not incur the obligation and make the capital improvement unless the business entity agrees to repay any obligations related to the specific capital improvement as of a date certain. Provides that the fiscal officer of a redevelopment commission is the fiscal officer of the unit that established the commission. Provides that the Indianapolis controller is the fiscal officer of the redevelopment commission and redevelopment authority in Indianapolis. Requires the secretary-treasurer of a redevelopment authority to report quarterly to the fiscal officer of the unit that established the redevelopment authority. Requires the department of
    Current Status:
     In Committee - first House
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