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House Bill 1495


House Bill 1495

ARCHIVE (2013)

Latest Information

 

DIGEST OF INTRODUCED BILL


Historic hotel preservation and maintenance fund. Requires that money in the West Baden Springs historic hotel preservation and maintenance fund must be used for only certain purposes. (Current law requires that only the interest accruing in the fund must be used for those purposes.) Provides that, for the state fiscal year beginning July 1, 2013, and ending June 30, 2014, the total money withdrawn from the fund to pay claims may not exceed 5% of the amount of money in the fund at the beginning of that fiscal year. Provides that for any subsequent fiscal year the department may not pay a claim in that fiscal year until the fund has a balance of at least $20,000,000 and the total money withdrawn from the fund to pay claims in that fiscal year may not exceed 5% of the amount of money in the fund at the time the balance is at least $20,000,000.
Current Status:
 In Committee - first House
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