reglab/housing_qa huggingface dataset:
IN Code § 36-7.5-4-7 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-7. Leases; Findings

Sec. 7. (a) Before a lease may be entered into by an eligible political subdivision under this chapter, the eligible political subdivision must find that the lease rental provided for is fair and reasonable.(b) A lease of land or a project from the development authority to an eligible political subdivision:(1) may not have a term exceeding forty (40) years;(2) may not require payment of lease rentals for a newly constructed project or for improvements to an existing project until the project or improvements to the project have been completed and are ready for occupancy or use;(3) may contain provisions:(A) allowing the eligible political subdivision to continue to operate an existing project until completion of the acquisition, improvements, reconstruction, or renovation of that project or any other project; and(B) requiring payment of lease rentals for land, for an existing project being used, reconstructed, or renovated, or for any other existing project;(4) may contain an option to renew the lease for the same or shorter term on the conditions provided in the lease;(5) must contain an option for the eligible political subdivision to purchase the project upon the terms stated in the lease during the term of the lease for a price equal to the amount required to pay all indebtedness incurred on account of the project, including indebtedness incurred for the refunding of that indebtedness;(6) may be entered into before acquisition or construction of a project;(7) may provide that the eligible political subdivision shall agree to:(A) pay any taxes and assessments on the project;(B) maintain insurance on the project for the benefit of the development authority;(C) assume responsibility for utilities, repairs, alterations, and any costs of operation; and(D) pay a deposit or series of deposits to the development authority from any funds legally available to the eligible political subdivision before the commencement of the lease to secure the performance of the eligible political subdivision's obligations under the lease; and(8) shall provide that the lease rental payments by the eligible political subdivision shall be made from the development authority revenue fund established by section 1 of this chapter and may provide that the lease rental payments by the eligible political subdivision shall be made from:(A) net revenues of the project;(B) any other funds available to the eligible political subdivision; or(C) both sources described in clauses (A) and (B).As added by P.L.214-2005, SEC.73. Amended by P.L.189-2018, SEC.176.
IN Code § 36-7.5-4-8 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-8. Leases; Complete Authority

Sec. 8. This chapter contains full and complete authority for leases between the development authority and an eligible political subdivision. No law, procedure, proceedings, publications, notices, consents, approvals, orders, or acts by the development authority or the eligible political subdivision or any other officer, department, agency, or instrumentality of the state or any political subdivision is required to enter into any lease, except as prescribed in this article.As added by P.L.214-2005, SEC.73.
IN Code § 36-7.5-4-9 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-9. Plans; Approval

Sec. 9. If the lease provides for a project or improvements to a project to be constructed by the development authority, the plans and specifications shall be submitted to and approved by all agencies designated by law to pass on plans and specifications for public buildings.As added by P.L.214-2005, SEC.73.
IN Code § 36-7.5-4-10 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-10. Agreements; Common Wall; Easements; Licenses

Sec. 10. The development authority and an eligible political subdivision may enter into common wall (party wall) agreements or other agreements concerning easements or licenses. These agreements shall be recorded with the recorder of the county in which the project is located.As added by P.L.214-2005, SEC.73.
IN Code § 36-7.5-4-11 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-11. Leases or Sale of Projects or Land to Authority

Sec. 11. (a) An eligible political subdivision may lease for a nominal lease rental, or sell to the development authority, one (1) or more projects or portions of a project or land upon which a project is located or is to be constructed.(b) Any lease of all or a portion of a project by an eligible political subdivision to the development authority must be for a term equal to the term of the lease of that project back to the eligible political subdivision.(c) An eligible political subdivision may sell property to the development authority for the amount the eligible political subdivision determines to be in the best interest of the eligible political subdivision. The development authority may pay that amount from the proceeds of bonds of the development authority.As added by P.L.214-2005, SEC.73.
IN Code § 36-7.5-4-12 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-12. Option to Purchase Property

Sec. 12. If an eligible political subdivision exercises its option to purchase leased property, the eligible political subdivision may issue its bonds as authorized by statute.As added by P.L.214-2005, SEC.73.
IN Code § 36-7.5-4-13 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-13. Tax Exemption

Sec. 13. (a) All:(1) property owned by the development authority;(2) revenues of the development authority; and(3) bonds issued by the development authority, the interest on the bonds, the proceeds received by a holder from the sale of bonds to the extent of the holder's cost of acquisition, proceeds received upon redemption before maturity, proceeds received at maturity, and the receipt of interest in proceeds;are exempt from taxation in Indiana for all purposes except the financial institutions tax imposed under IC 6-5.5.(b) All securities issued under this chapter are exempt from the registration requirements of IC 23-19 and other securities registration statutes.As added by P.L.214-2005, SEC.73. Amended by P.L.27-2007, SEC.35; P.L.79-2017, SEC.84.
IN Code § 36-7.5-4-14 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-14. Bonds; Legal Investments

Sec. 14. Bonds issued under this chapter are legal investments for private trust funds and the funds of banks, trust companies, insurance companies, building and loan associates, credit unions, savings banks, private banks, loan and trust and safe deposit companies, rural loan and savings associations, guaranty loan and savings associations, mortgage guaranty companies, small loan companies, industrial loan and investment companies, and other financial institutions organized under Indiana law.As added by P.L.214-2005, SEC.73.
IN Code § 36-7.5-4-15 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-15. Bonds; Contesting Validity

Sec. 15. An action to contest the validity of bonds to be issued under this chapter may not be brought after the time limitations set forth in IC 5-1-14-13.As added by P.L.214-2005, SEC.73.
IN Code § 36-7.5-4-16 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-16. Transfers; Failure to Make; Duty of State Treasurer or Fiscal Officer; Deduct and Transfer Payment

     Note: This version of section amended by P.L.229-2017, SEC.40. See also following version of this section amended by P.L.248-2017, SEC.8.Sec. 16. (a) This section applies if a political subdivision or city or county described in IC 36-7.5-2-3 fails to make a transfer or a part of a transfer required by section 2 of this chapter or fails to pay or transfer any amounts a political subdivision or a city or county described in IC 36-7.5-2-3 has agreed to pay or transfer to the development authority pursuant to the terms of any bond, note, debenture, warrant, contractual agreement, or any other promise or agreement.(b) The development authority shall notify the treasurer of state or the fiscal officer of a city or county described in IC 36-7.5-2-3 when a city, county, or political subdivision has failed to pay or transfer all or part of a payment or transfer due under this section. Upon receiving notice from the development authority, the treasurer of state or fiscal officer shall:(1) Deduct from amounts otherwise payable to the city or county under IC 4-33-13 or other political subdivision:(A) an amount equal to the amount of the transfer or part of the transfer under section 2 of this chapter that the city, county, or subdivision failed to make; and(B) an amount equal to any other amounts due to the development authority that the city, county, or political subdivision failed to make.(2) Pay the amount deducted under subdivision (1) to the development authority.(3) Notify the city, county, or political subdivision that the amount that would otherwise be available for distribution to the city, county, or political subdivision has been reduced by an amount necessary to satisfy all or part of the transfers required under section 2 of this chapter or any other amounts due to the development authority.(c) A deduction under subsection (b) must be made as follows:(1) First, from amounts otherwise payable to the city, county, or other political subdivision under IC 4-33-13.(2) Second, from local income tax distributions under IC 6-3.6-9 that would otherwise be distributed to the city, county, or other political subdivision under the schedules in IC 6-3.6-9-12 and IC 6-3.6-9-16.(3) Third, from any other revenues or money otherwise available for distribution from the city, county, or other political subdivision.As added by P.L.214-2005, SEC.73. Amended by P.L.192-2015, SEC.15; P.L.229-2017, SEC.40.
IN Code § 36-7.5-4-16.5 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-16.5. Failure of Certain Cities or Counties to Make a Transfer; Duties of State Treasurer; Deduction of Amounts Payable to City or County; Payment to Development Authority

Sec. 16.5. (a) This section applies if the development board does the following:(1) Finds that a city or county described in IC 36-7.5-2-3 has, at any time before July 1, 2015, failed to make a transfer or a part of a transfer required by section 2 of this chapter.(2) Finds that the obligation of the city or county to pay the unpaid amount of the transfer or transfers has not been satisfied under section 16 of this chapter or by any other means.(3) Certifies to the treasurer of state the total amount of the arrearage attributable to the failure of the city or county to make a transfer or a part of a transfer required by section 2 of this chapter.(b) The treasurer of state shall do the following:(1) Deduct from amounts otherwise payable to the city under IC 4-33-13-5(a) or to the county under IC 4-33-12-6 an amount equal to:(A) the total amount certified under subsection (a)(3); plus(B) interest calculated in the same manner that interest on delinquent taxes is calculated under IC 6-8.1-10-1.(2) Pay the amount deducted under subdivision (1) to the development authority.As added by P.L.192-2015, SEC.16. Amended by P.L.149-2016, SEC.99.
IN Code § 36-7.5-4-17 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-17. Covenant With Holders

Sec. 17. (a) If there are bonds outstanding that have been issued under this article and are not secured by a lease, or if there are leases in effect under this article, the general assembly also covenants that it will not reduce the amount required to be transferred from the counties and cities to the development authority under section 2 of this chapter below an amount that would produce one and twenty-five hundredths (1.25) multiplied by the total of the highest annual debt service on the bonds to their final maturity plus the highest annual lease payments on the leases to their final termination date.(b) The general assembly also covenants that it will not:(1) repeal or amend this article in a manner that would adversely affect owners of outstanding bonds, or the payment of lease rentals, secured by the amounts pledged under this chapter; or(2) in any way impair the rights of owners of bonds of the development authority, or the owners of bonds secured by lease rentals, secured by a pledge of revenues under this chapter;except as otherwise set forth in subsection (a).As added by P.L.214-2005, SEC.73.
IN Code § 36-7.5-4-18 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-18. Exclusive Approval; Development Authority; Financing a Rail Project

Sec. 18. Subject to IC 5-1.3, the development authority is the exclusive fiscal officer for and has final approval for financing a transportation project involving a rail project under this article.As added by P.L.248-2017, SEC.9. Amended by P.L.189-2018, SEC.177.
IN Code § 36-7.5-4-19 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-19. Obligations Legalized and Validated

Sec. 19. (a) All bonds, notes, evidences of indebtedness, leases, or other written obligations issued or executed by or in the name of the development authority under this chapter before April 30, 2019, are hereby legalized and declared valid.(b) Any pledge, dedication or designation of revenues securing the bonds, notes, evidences of indebtedness, leases, or other written obligations issued or executed by or in the name of the development authority under this chapter before April 30, 2019, are hereby legalized and declared valid.(c) The:(1) financing plan for the West Lake project (as described in IC 36-7.5-1-13.5) submitted to the United States Department of Transportation and the Federal Transit Administration; and(2) governance agreement between the development authority, the Indiana finance authority, and a commuter transportation district are hereby legalized and declared valid.(d) Any resolutions adopted, proceedings had, and actions taken under this chapter by the development authority before April 30, 2019, under which the bonds, notes, evidences of indebtedness, leases, or other written obligations were or will be issued or under which the pledge or dedication or designation of revenues was or will be granted, are hereby legalized and declared valid.As added by P.L.259-2019, SEC.15.
IN Code § 36-7.5-4-20 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-20. Transfer of Money

Sec. 20. (a) Before July 1, 2019, the Lake County auditor shall transfer to the secretary-treasurer of the development authority all amounts held in the commuter rail extension and improvement fund established by an ordinance adopted by the fiscal body of Lake County on June 9, 2015.(b) On or before December 31, 2019, the Lake County auditor shall transfer to the secretary-treasurer of the development authority all amounts received after June 30, 2019, and deposited in the commuter rail extension and improvement fund described in subsection (a).As added by P.L.259-2019, SEC.16.
IN Code § 36-7.5-4-21 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-21. West Lake Corridor Project; Failure to Enter Into a Full Funding Grant Agreement

Sec. 21. (a) If a full funding grant agreement is not entered into between the commuter transportation district and the federal government for the West Lake corridor project, all amounts received by the secretary-treasurer of the development authority under IC 6-3.6-11-5.5, including any interest earned on those amounts, shall be distributed by the secretary-treasurer of the development authority to each civil taxing unit in proportion to the amounts withheld and paid on behalf of the civil taxing unit under IC 6-3.6-11-5.5.(b) When a full funding grant agreement is entered into between the commuter transportation district and the federal government for a rail project, the development authority shall adopt a resolution taking notice of the executed full funding grant agreement, and the provisions of subsection (a) will not apply with respect to that rail project.As added by P.L.259-2019, SEC.17.
IN Code § 36-7.5-4-22 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4. Financing; Issuance of Bonds; Leases|36-7.5-4-22. Lake County; Commuter Rail Extensions and Improvements; Failure to File Proper Application for Federal Funding

Sec. 22. (a) Subject to subsection (b), if, before December 31, 2020, the proper applications for federal funding necessary and desired to complete commuter rail extensions and improvements described in an interlocal agreement entered into by Lake County units to support the extension and improvement of rail services have not been filed, after satisfaction of all obligations and liabilities that have been incurred, all resources on deposit to the credit of an account established by section 1(d) of this chapter must be distributed to each participating unit, entity, and nonentity donor based on the ratio of the contributions of each participating unit, entity, and nonentity donor to the total amount on deposit to the credit of the account.(b) If the purposes of an interlocal agreement entered into by Lake County units to support the extension and improvement of rail services are achieved or abandoned, after allowing for any encumbrances and other lawful payables, any remaining balance in an account established by section 1(d) of this chapter that is unobligated, unassigned, and unreserved must be distributed to each participating unit, entity, and nonentity donor based on the ratio of the contributions of each participating unit, entity, and nonentity donor to the total amount on deposit to the credit of the account. After making the distributions, the fund must be defeased.As added by P.L.259-2019, SEC.18.
IN Code § 36-7.5-4.5-0.5 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4.5. Rail Transit Development Districts|36-7.5-4.5-0.5. "Associate Member"

Sec. 0.5. As used in this chapter, "associate member" refers to a county or municipality that adopted an ordinance or resolution under section 16 of this chapter specifying that the county or municipality has chosen to become an associate member.As added by P.L.189-2018, SEC.178.
IN Code § 36-7.5-4.5-1 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4.5. Rail Transit Development Districts|36-7.5-4.5-1. "Base Assessed Value"

Sec. 1. As used in this chapter, "base assessed value" means:(1) the net assessed value of all the taxable property located in a transit development district as finally determined for the assessment date immediately preceding the effective date of the resolution adopted under this chapter establishing the particular district; plus(2) to the extent it is not included in subdivision (1), the net assessed value of property that is assessed as residential property under the rules of the department of local government finance, as finally determined for any assessment date after the effective date of the resolution.As added by P.L.248-2017, SEC.10.
IN Code § 36-7.5-4.5-2 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4.5. Rail Transit Development Districts|36-7.5-4.5-2. "Budget Agency"

Sec. 2. As used in this chapter, "budget agency" means the budget agency established by IC 4-12-1-3.As added by P.L.248-2017, SEC.10.
IN Code § 36-7.5-4.5-2.5 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4.5. Rail Transit Development Districts|36-7.5-4.5-2.5. "Cash Participant"

Sec. 2.5. As used in this chapter, "cash participant" refers to a county or municipality that has adopted an ordinance or resolution under section 16 of this chapter specifying that the county or municipality has chosen to become a cash participant.As added by P.L.189-2018, SEC.179.
IN Code § 36-7.5-4.5-3 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4.5. Rail Transit Development Districts|36-7.5-4.5-3. "Corridor"

Sec. 3. As used in this chapter, "corridor" means the geographic area established as a rail transit development corridor by this chapter.As added by P.L.248-2017, SEC.10.
IN Code § 36-7.5-4.5-4 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4.5. Rail Transit Development Districts|36-7.5-4.5-4. "Department"

Sec. 4. As used in this chapter, "department" refers to the department of state revenue.As added by P.L.248-2017, SEC.10.
IN Code § 36-7.5-4.5-5 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4.5. Rail Transit Development Districts|36-7.5-4.5-5. "Development Project"

Sec. 5. As used in this chapter, "development project" includes only development projects that benefit the corridor.As added by P.L.248-2017, SEC.10.
IN Code § 36-7.5-4.5-6 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4.5. Rail Transit Development Districts|36-7.5-4.5-6. "District"

Sec. 6. As used in this chapter, "district" refers to a transit development district established by the development authority under this chapter.As added by P.L.248-2017, SEC.10.
IN Code § 36-7.5-4.5-7 (2021)
2021 Indiana Code|Title 36. Local Government|Article 7.5. Northwest Indiana Regional Development Authority|Chapter 4.5. Rail Transit Development Districts|36-7.5-4.5-7. "Gross Retail Tax Base Period Amount"

Sec. 7. As used in this chapter, "gross retail tax base period amount" means the aggregate amount of state gross retail taxes remitted under IC 6-2.5 by retail merchants for the calendar year that precedes the date on which the district was established under this chapter as determined by the department.As added by P.L.248-2017, SEC.10.