House Bill (H)

Authored by

DIGEST

Regional infrastructure development. Authorizes a regional development authority (RDA) to apply for a "FASTLANE" grant from the Federal Highway Administration (or a grant from any other federal grant program) for highway funding. Authorizes an RDA to enter into a supplemental funding agreement with the Indiana department of transportation (INDOT) or a political subdivision to contribute local matching funds to be used to pay a part or all of the nonfederal share of the costs necessary to carry out regional transportation infrastructure projects. Allows INDOT, when determining its long range construction program, to give special priority to construction projects for which Regional infrastructure development. Authorizes a regional development authority (RDA) to apply for a "FASTLANE" grant from the Federal Highway Administration (or a grant from any other federal grant program) for highway funding. Authorizes an RDA to enter into a supplemental funding agreement with the Indiana department of transportation (INDOT) or a political subdivision to contribute local matching funds to be used to pay a part or all of the nonfederal share of the costs necessary to carry out regional transportation infrastructure projects. Allows INDOT, when determining its long range construction program, to give special priority to construction projects for which an RDA has agreed to provide local matching funds under a supplemental funding agreement. Allows a county or municipality participating in an RDA to transfer money to a fund from its general fund or rainy day fund (or other available fund) to the RDA for purposes of providing funds under the supplemental funding agreement. Allows a property owner in a county that is a participant in an RDA to make a contribution to a fund by public subscription and voluntary property tax levy. Authorizes the fiscal body of a county that is a participant in an RDA to adopt a resolution to place a supplemental transportation infrastructure referendum tax levy on the ballot. Provides that, if a majority of individuals who vote in the referendum vote in favor of the referendum, the county is authorized to impose the levy: (1) not greater than the amount approved in the referendum; and (2) for the number of years specified in the referendum. Upon recommendation by an RDA, authorizes a county or municipality to establish a cumulative fund for the purpose of funding regional transportation infrastructure projects. Provides that an authority may issue bonds payable from the fund. Allows a county, municipality, or township within the boundaries of an authority to transfer money to a fund from the county's, municipality's, or township's general fund or rainy day fund (or other available fund). Allows a property owner in a county that is a participant in an authority to make a contribution to a fund by public subscription and voluntary property tax levy. Provides that a property owner who wishes to make a contribution to a fund must: (1) execute a voluntary property tax levy agreement (agreement) to impose a tax rate on the property owner's real property; and (2) record the agreement with the county recorder's office. Provides that the Indiana finance authority (IFA) administers the local infrastructure revolving funds. Authorizes the IFA to issue its bonds to carry out the funds. Specifies that a tax rate imposed under an agreement must be at least $0.05 but not more than $0.50 on each $100 of assessed valuation of the property. Provides that the tax rate imposed under an agreement must expire on the assessment date following the maturity date of bonds that are issued and payable solely from the authority's fund. Requires the county fiscal officer to transfer to the fund all property tax collection amounts received from a voluntary property tax levy. Authorizes the fiscal body of a county that is a participant in an authority to adopt a resolution to place a supplemental highway funding referendum tax levy on the ballot. Provides that, if a majority of individuals who vote in the referendum vote in favor of the referendum, the county is authorized to impose a levy: (1) not greater than the amount approved in the referendum; and (2) for the number of years for which bonds that are issued and payable solely from the authority's fund will be outstanding. Provides that the county's referendum tax levy may not be considered in determining any other property tax levy imposed by the county. Provides that money received from the county's referendum tax levy must be transferred to the fund. Appropriates money in the fund. ... View more