reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 11. Local Bridge Grant Fund › 8-14-11-14. Evaluation of Grant Application; Approval; Notice

Sec. 14. The board shall use the criteria established under section 11 of this chapter and the report submitted under section 13 of this chapter to evaluate an application for a grant from the fund. The board shall notify a county that makes a grant application of the board's approval or disapproval of the application within sixty (60) days of the date of the application. The board's decision to approve or disapprove a grant application is final.
As added by P.L.117-1989, SEC.1.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 11. Local Bridge Grant Fund › 8-14-11-15. Agreement; Terms

Sec. 15. The board and each county for which a grant has been approved under this chapter shall enter into an agreement specifying the purposes for which the grant may be used. The terms of the agreement must be consistent with the purposes of this chapter.
As added by P.L.117-1989, SEC.1.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 12. Historic Bridge Maintenance Grant › 8-14-12-2. "Historic Bridge" Defined

Sec. 2. As used in this chapter, "historic bridge" means a bridge that meets the following requirements:
(1) Is listed on:
(A) the National Register of Historic Places; or
(B) the register of Indiana historic sites and historic structures established under IC 14-21-1.
(2) Is not a covered bridge receiving funding for maintenance under IC 8-14-1-10.
As added by P.L.158-2001, SEC.1.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 12. Historic Bridge Maintenance Grant › 8-14-12-3. Requests for Grants

Sec. 3. Before June 1 of each year, the county executive of a county having a historic bridge located on the county's road system may request a grant.
As added by P.L.158-2001, SEC.1.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 12. Historic Bridge Maintenance Grant › 8-14-12-4. Amount of Grants

Sec. 4. Subject to the amount appropriated by the general assembly for historic bridge maintenance grants and not to exceed one hundred thousand dollars ($100,000) per state fiscal year, the annual grant amount for a county is one thousand two hundred fifty dollars ($1,250) for each historic bridge located on the county's road system.
As added by P.L.158-2001, SEC.1.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 12. Historic Bridge Maintenance Grant › 8-14-12-5. Distributions

Sec. 5. Before September 1 of each year and subject to available funding, the auditor of state shall, by warrant drawn on the treasurer of state, distribute from the state general fund to each county the total amount to which the county is entitled for a grant under this chapter.
As added by P.L.158-2001, SEC.1.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 12. Historic Bridge Maintenance Grant › 8-14-12-6. Commingling and Accumulating Money

Sec. 6. A county executive may commingle and accumulate money received under this chapter with money received under IC 8-14-1-10 for the maintenance of covered bridges.
As added by P.L.158-2001, SEC.1.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 14. Major Moves Construction Fund › 8-14-14-1. "Authority"

Sec. 1. As used in this chapter, "authority" refers to the Indiana finance authority established by IC 5-1.2-3.
As added by P.L.47-2006, SEC.5. Amended by P.L.189-2018, SEC.72.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 14. Major Moves Construction Fund › 8-14-14-4. "Transportation Plan"

Sec. 4. As used in this chapter, "transportation plan" refers to the department's long range comprehensive transportation plan developed under IC 8-23-2-5.
As added by P.L.47-2006, SEC.5.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 14. Major Moves Construction Fund › 8-14-14-5. Establishment of Fund; Administration

Sec. 5. (a) The major moves construction fund is established for the purpose of:
(1) funding projects, other than passenger or freight railroad systems as described in IC 8-15.7-2-14(a)(4), under IC 8-15.7 or IC 8-15-3;
(2) funding other projects in the department's transportation plan; and
(3) funding distributions under sections 6 and 7 of this chapter.
(b) The fund shall be administered by the department.
(c) Notwithstanding IC 5-13, the treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as money is invested by the Indiana public retirement system under IC 5-10.3-5. However, the treasurer of state may not invest the money in the fund in equity securities. The treasurer of state may contract with investment management professionals, investment advisors, and legal counsel to assist in the investment of the fund and may pay the state expenses incurred under those contracts from the fund. Interest that accrues from these investments shall be deposited in the fund.
(d) The fund consists of the following:
(1) Distributions to the fund from the toll road fund under IC 8-15.5-11.
(2) Appropriations to the fund.
(3) Gifts, grants, loans, bond proceeds, and other money received for deposit in the fund.
(4) Revenues arising from:
(A) a tollway under IC 8-15-3 or IC 8-23-7-22; or
(B) a toll road under IC 8-15-2 or IC 8-23-7-23;
that the department designates as part of, and deposits in, the fund.
(5) Payments, other than payments for passenger or freight railroad systems as described in IC 8-15.7-2-14(a)(4), made to the authority or the department from operators under IC 8-15.7.
(6) Any money transferred to the fund under IC 8-14-14.1-4.
(7) Interest, premiums, or other earnings on the fund.
(e) The fund is considered a trust fund for purposes of IC 4-9.1-1-7. Money may not be transferred, assigned, or otherwise removed from the fund by the state board of finance, the budget agency, or any other state agency.
(f) Money in the fund at the end of a state fiscal year does not revert to the state general fund.
(g) Money in the fund must be appropriated by the general assembly to be available for expenditure.
As added by P.L.47-2006, SEC.5. Amended by P.L.203-2007, SEC.2; P.L.35-2012, SEC.95; P.L.201-2014, SEC.1; P.L.189-2018, SEC.73.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 14. Major Moves Construction Fund › 8-14-14-7. Additional Distributions From the Fund

Sec. 7. (a) In addition to any distributions required by section 6 of this chapter, money in the fund may be used for any of the following purposes:
(1) Except as provided in subsection (b), the payment of any obligation incurred or amounts owed by the authority, the department, or an operator under IC 8-15-2, IC 8-15-3, IC 8-15.5, or IC 8-15.7 in connection with the execution and performance of a public-private agreement under IC 8-15.5 or IC 8-15.7, including establishing reserves.
(2) Lease payments to the authority, if money for those payments is specifically appropriated by the general assembly.
(3) Distributions to the treasurer of state for deposit in the state highway fund, for the funding of any project in the department's transportation plan.
(b) Money in the fund may not be used for the payment of an obligation incurred or amounts owed by the authority, the department, or an operator under IC 8-15.7 in connection with a public-private agreement under IC 8-15.7 concerning a passenger or freight railroad system as described in IC 8-15.7-2-14(a)(4).
(c) The treasurer of state shall deposit in the toll road lease amendment proceeds fund established by IC 8-14-14.2-1 all proceeds, including interest earned on these proceeds, received under the First Amendment to the Amended and Restated Indiana Toll Road Concession and Lease Agreement entered on September 21, 2018.
As added by P.L.47-2006, SEC.5. Amended by P.L.203-2007, SEC.3; P.L.108-2019, SEC.153.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 14. Major Moves Construction Fund › 8-14-14-8. Allocation of Distributions for Certain Projects

Sec. 8. (a) The total amount of distributions from the fund for projects or purposes that benefit a county traversed by the Indiana Toll Road may not be less than thirty-four percent (34%) of:
(1) the money that is transferred to the fund from the toll road fund under IC 8-15.5-11; plus
(2) the amount initially set aside in the administration account of the toll road fund to establish an escrow account to implement a written agreement entered into under IC 8-15.5-7-6 to fund reductions in, or refunds of, user fees imposed on Class 2 vehicles.
(b) The budget agency shall determine the amount of distributions required by this section. In making the determination, the budget agency shall include the following amounts:
(1) Amounts distributed to counties traversed by the Indiana Toll Road under section 6(a)(1) of this chapter.
(2) Money distributed to the northwest Indiana regional development authority under this chapter.
(3) Money distributed under section 6(a)(3) of this chapter.
(4) Projects carried out by the department in counties traversed by the Indiana Toll Road and funded with money distributed under section 6(a)(4) of this chapter.
(5) The amount initially set aside in the administration account of the toll road fund to establish an escrow account to implement a written agreement entered into under IC 8-15.5-7-6 to fund reductions in, or refunds of, user fees imposed on Class 2 vehicles.
(6) Money transferred to the administration account of the toll road fund under section 6(a)(5) of this chapter.
(7) Payments to the Indiana public retirement system required by section 6(a)(6) of this chapter.
As added by P.L.47-2006, SEC.5. Amended by P.L.35-2012, SEC.96.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 14.1. Major Moves 2020 Trust Fund › 8-14-14.1-2. "Fund"

Sec. 2. As used in this chapter, "fund" refers to the major moves 2020 trust fund established by section 3 of this chapter.
As added by P.L.205-2013, SEC.135.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 14.1. Major Moves 2020 Trust Fund › 8-14-14.1-3. Establishment of the Fund; Transfers From the State General Fund

Sec. 3. (a) The major moves 2020 trust fund is established, to be used exclusively for major highway expansion projects that enhance the ability of goods to be transported in and through Indiana.
(b) The fund shall be administered by the department.
(c) Notwithstanding IC 5-13, the treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as money is invested by the Indiana public retirement system under IC 5-10.3-5. However, the treasurer of state may not invest the money in the fund in equity securities. The treasurer of state may contract with investment management professionals, investment advisors, and legal counsel to assist in the investment of the fund and may pay the state expenses incurred under those contracts from the fund. Interest that accrues from these investments shall be deposited in the fund.
(d) The fund consists of:
(1) money transferred to the fund under subsection (h); and
(2) any interest or other earnings on money in the fund.
(e) The fund is considered a trust fund for purposes of IC 4-9.1-1-7. Money may not be transferred, assigned, or otherwise removed from the fund by the state board of finance, the budget agency, or any other state agency. IC 4-9.1-1-8 and IC 4-9.1-1-9 do not apply to the fund.
(f) Money in the fund at the end of a state fiscal year does not revert to the state general fund.
(g) Money in the fund must be appropriated by the general assembly to be available for expenditure.
(h) The budget agency may before July 1, 2015, direct the auditor of state to transfer not more than two hundred million dollars ($200,000,000) to the fund from the state general fund. If the budget agency directs the auditor of state to make such a transfer, the auditor of state shall transfer to the fund the amount determined by the budget agency. There is annually appropriated from the state general fund an amount sufficient to make the transfer under this subsection. A transfer under this subsection is in addition to any transfer from the state general fund to the fund before January 1, 2014.
As added by P.L.205-2013, SEC.135. Amended by P.L.201-2014, SEC.2.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 14.1. Major Moves 2020 Trust Fund › 8-14-14.1-4. Transfers to the Major Moves Construction Fund

Sec. 4. (a) Notwithstanding section 3(e) of this chapter, the budget agency may, before July 1, 2014, transfer not more than two hundred million dollars ($200,000,000) from the fund to the major moves construction fund established by IC 8-14-14-5. Money transferred under this section may be used for any purpose of the major moves construction fund.
(b) Notwithstanding section 3(e) of this chapter, if one (1) or more transfers under section 3(h) of this chapter are made to the fund after December 31, 2013, the budget agency may transfer from the fund to the major moves construction fund established by IC 8-14-14-5 an amount equal to the lesser of:
(1) two hundred million dollars ($200,000,000); or
(2) the total amount of any transfers under section 3(h) of this chapter that are made to the fund after December 31, 2013.
(c) The following apply to a transfer described in subsection (b):
(1) The transfer is subject to review by the budget committee and may be made as late as the date on which the budget committee submits the budget report and budget bill for the biennium beginning July 1, 2015, and ending June 30, 2017, to the governor under IC 4-12-1-9(a).
(2) The transfer is in addition to any transfer made under subsection (a).
(3) Money that is transferred may be used for any purpose of the major moves construction fund.
As added by P.L.201-2014, SEC.3.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 14.1. Major Moves 2020 Trust Fund › 8-14-14.1-5. Transfer to Major Moves Construction Fund and State Highway Fund

Sec. 5. (a) After review by the budget committee, the budget agency may, after June 30, 2015, and before July 1, 2016, direct the auditor of state to transfer not more than one hundred million dollars ($100,000,000) to the fund from the state general fund. If the budget agency directs the auditor of state to make such a transfer, the auditor of state shall transfer to the fund the amount determined by the budget agency. There is appropriated from the state general fund an amount sufficient to make the transfer under this subsection.
(b) After June 30, 2016, and before July 1, 2017, the auditor of state shall transfer one hundred million dollars ($100,000,000) to the state highway fund created by IC 8-23-9-54 from the state general fund. There is appropriated from the state general fund an amount sufficient to make the transfer under this subsection.
(c) Notwithstanding section 3(e) of this chapter, if one (1) or more transfers under subsection (a) are made to the fund, the budget agency may after review by the budget committee transfer from the fund to the major moves construction fund established by IC 8-14-14-5 an amount equal to the lesser of:
(1) one hundred million dollars ($100,000,000); or
(2) the total amount of any transfers under subsection (a) that are made to the fund.
(d) Money that is transferred as described in subsection (c) may be used for any purpose of the major moves construction fund.
(e) Notwithstanding section 3(e) of this chapter, the transfer under subsection (b) to the state highway fund must be used only for preserving or reconstructing existing state highways and bridges for which the department is responsible.
As added by P.L.213-2015, SEC.102. Amended by P.L.146-2016, SEC.15.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 14.2. Toll Road Lease Amendment Proceeds Fund › 8-14-14.2-1. Establishment of Fund; Uses

Sec. 1. (a) The toll road lease amendment proceeds fund is established.
(b) The fund consists of the following:
(1) Distributions to the fund from the major moves construction fund under IC 8-14-14-7(c).
(2) Appropriations to the fund.
(3) Gifts, grants, loans, bond proceeds, and other money received for deposit in the fund.
(4) Interest, premiums, or other earnings on the fund.
(c) Money in the fund may be used only for the construction, reconstruction, improvement, maintenance, and repair, including design and right-of-way acquisition, of state highways that have a direct or indirect nexus with the Indiana toll road in the following counties:
(1) Elkhart.
(2) LaGrange.
(3) Lake.
(4) LaPorte.
(5) Porter.
(6) Steuben.
(7) St. Joseph.
(d) The department of transportation shall administer the fund.
(e) Notwithstanding IC 5-13, the treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as money may be invested by the Indiana public retirement system under IC 5-10.3-5. However, the treasurer of state may not invest the money in the fund in equity securities. The treasurer of state may contract with investment management professionals, investment advisors, and legal counsel to assist in the investment of the fund and may pay the state expenses incurred under those contracts from the fund. Interest that accrues from these investments shall be deposited in the fund.
(f) Money in the fund at the end of a state fiscal year does not revert to the state general fund.
As added by P.L.108-2019, SEC.154.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 14.3. Next Level Connections Fund › 8-14-14.3-2. Establishment of the Next Level Connections Fund; Purposes

Sec. 2. (a) The next level connections fund is established to do the following:
(1) Provide matching grants to local units of government and nonprofit organizations for trails. However, the funding for trails may not exceed ninety million dollars ($90,000,000).
(2) Incentivize and establish additional nonstop flights originating from Indiana airports. However, the funding for nonstop flights may not exceed twenty million dollars ($20,000,000).
(3) Accomplish the transportation plan of the department.
(b) The department may transfer up to one hundred million dollars ($100,000,000) from the next level connections fund to the rural broadband fund established under IC 4-4-38.5-11 for the purpose of awarding broadband grants for rural areas.
(c) The fund consists of the following:
(1) Transfers to the fund of other money appropriated to the department that are approved by the budget agency.
(2) Appropriations to the fund.
(3) Gifts, grants, loans, bond proceeds, and other money received for deposit in the fund.
(4) Interest, premiums, or other earnings on the fund.
(d) The department shall administer the fund.
(e) Money in the fund at the end of a state fiscal year does not revert to the state general fund.
As added by P.L.108-2019, SEC.155.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 14.3. Next Level Connections Fund › 8-14-14.3-3. Authorization to Collaborate With Other State Agencies in Carrying Out the Purposes of the Fund

Sec. 3. The department may collaborate with other state agencies, including transferring funds to other agencies, with the approval of the budget director, in carrying out section 2 of this chapter.
As added by P.L.108-2019, SEC.155.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 14.3. Next Level Connections Fund › 8-14-14.3-4. Reporting Requirement

Sec. 4. The budget agency and the department shall report to the budget committee before October 1 of each year, beginning in 2019, on any projects identified or expenditures that have been made under this chapter during the immediately preceding state fiscal year. The report must include a summary of any expenditures and the sources of the funding for these expenditures.
As added by P.L.108-2019, SEC.155.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 14.3. Next Level Connections Fund › 8-14-14.3-5. Establishment of the Northern Indiana Commuter Rail Account; Uses

Sec. 5. (a) As used in this section, "authority" refers to the Indiana finance authority established under IC 5-1.2-3.
(b) The northern Indiana commuter rail account is established within the next level connections fund. The budget agency shall transfer one hundred eighty-five million dollars ($185,000,000) from the next level connections fund to the northern Indiana commuter rail account and, subject to the approval of the governor, may transfer up to an additional twenty million dollars ($20,000,000) from the next level connections fund to the northern Indiana commuter rail account. The account shall be administered by the department.
(c) Money in the account may be used only for the purpose of paying the costs of construction of a rail project (as each such term is defined in IC 5-1.3-2). The department may collaborate with other state agencies, the treasurer of state, and the authority, including transferring funds to other agencies, the treasurer of state, or the authority, with the approval of the budget director, to accomplish the purpose described in this section.
(d) If the authority notifies the department and the budget agency that the money in the account is no longer needed for paying the costs of construction of a rail project, the budget agency shall transfer any money remaining in the account back to the next level connections fund. Once a rail project, for which federal funds have been granted pursuant to the capital investment grant program outlined in 49 U.S.C. 5309, has commenced, such a transfer may not occur until the rail project is substantially complete.
(e) Money in the account at the end of a state fiscal year does not revert to the state general fund.
(f) Money in the account is continuously appropriated for the purpose of the account.
As added by P.L.108-2019, SEC.155.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 14.3. Next Level Connections Fund › 8-14-14.3-6. Expiration

Sec. 6. (a) This chapter expires June 30, 2024.
(b) The department may not award additional grants under section 2 of this chapter after June 30, 2024. The department may distribute grants after June 30, 2024, that have been awarded before June 30, 2024.
As added by P.L.108-2019, SEC.155.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.1. Next Level Indiana Trust Fund › 8-14-15.1-2. "Board"

Sec. 2. As used in this chapter, "board" refers to the next level Indiana fund investment board established by section 7 of this chapter.
As added by P.L.217-2017, SEC.69.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.1. Next Level Indiana Trust Fund › 8-14-15.1-4. "Trustee"

Sec. 4. As used in this chapter, "trustee" refers to the trustee of the trust designated under sections 7 and 9 of this chapter.
As added by P.L.217-2017, SEC.69.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.1. Next Level Indiana Trust Fund › 8-14-15.1-5. Trust Established by the Indiana Finance Authority; Charitable Trust; Proceeds Transferred From the Next Generation Trust Fund

Sec. 5. (a) The authority has established the next level Indiana trust fund to hold title to proceeds transferred to the trust under IC 8-14-15-5 (before its repeal), to be used exclusively for the provision of highways, roads, and bridges for the benefit of the people of Indiana and the users of those facilities.
(b) The trust as established is a charitable trust, separate from the state, but for the benevolent public purpose provided in this section.
(c) The trust consists of the proceeds transferred to the trust under IC 8-14-15-5 (before its repeal), and any income that accrues from the investment of these proceeds.
As added by P.L.217-2017, SEC.69. Amended by P.L.189-2018, SEC.76.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.1. Next Level Indiana Trust Fund › 8-14-15.1-5.5. Transfer of Title to Proceeds in Excess of $250,000,000; Immunity From Civil Liability in Connection With Transfer

Sec. 5.5. (a) Notwithstanding any law to the contrary, the treasurer of state shall transfer title to any proceeds in excess of two hundred fifty million dollars ($250,000,000) held in the trust fund to the next generation trust fund established under IC 8-14-15.2.
(b) The officers, directors, and employees of the authority and the treasurer of state (whether arising from the capacities of the position or from having entered in any trust agreement under this chapter) are immune from civil liability in connection with any transfer to the next generation trust fund under this section.
As added by P.L.189-2018, SEC.77.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.1. Next Level Indiana Trust Fund › 8-14-15.1-6. Trust Agreement Between the Indiana Finance Authority and the Next Level Indiana Fund Investment Board

Sec. 6. The chairman of the authority may enter into a trust agreement on behalf of the authority with the board in furtherance of the purposes of this chapter. Any trust agreement must conform with this chapter. Any provision of the trust agreement entered into under this section that is inconsistent with the provisions or intent of this chapter is void and of no further force or effect.
As added by P.L.217-2017, SEC.69.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.1. Next Level Indiana Trust Fund › 8-14-15.1-7. Next Level Indiana Fund Investment Board Established; Members; Investment Policy; Meetings; Quorum; Voting

Sec. 7. (a) The next level Indiana fund investment board is established. The board consists of the following members:
(1) The secretary of commerce or the secretary's designee, who shall serve as the chairperson of the board.
(2) The director of the office of management and budget or the director's designee.
(3) Two (2) individuals appointed by the governor who have experience and knowledge in investments.
(4) The treasurer of state or the treasurer's designee.
(5) One (1) individual appointed by the speaker of the house of representatives who has experience and knowledge in venture capital investments.
(6) One (1) individual appointed by the president pro tempore of the senate who has experience and knowledge in venture capital investments.
(b) The board shall serve as trustee of the trust and direct the investment of the trust.
(c) The board shall adopt an investment policy in conformance with section 8 of this chapter.
(d) The board shall hold regular meetings at least quarterly. The board may hold special meetings at the call of the treasurer of state or with a written request signed by at least two (2) members of the board.
(e) The board may hold its meetings at offices in Indiana that the chairperson or the requesting members designate. All meetings must be open to the public in accordance with IC 5-14-1.5. The board shall keep a record of its proceedings.
(f) Five (5) members of the board constitute a quorum for the transaction of business of the board. Each member of the board is entitled to one (1) vote. A vote of at least five (5) members of the board present is required for the board to adopt a resolution or take other action at a regular or special meeting.
As added by P.L.217-2017, SEC.69. Amended by P.L.135-2022, SEC.20.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.1. Next Level Indiana Trust Fund › 8-14-15.1-8. Investment Policy Requirements

Sec. 8. (a) The board shall adopt an investment policy that includes all the following:
(1) Money in the trust may be invested in investments that:
(A) maximize risk appropriate returns, which may include the purchase of equity or debt securities;
(B) make significant investments in Indiana funds and companies; and
(C) have such other investment parameters and procedures as the board determines are prudent to ensure that investments are consistent with this chapter.
(2) Money in the trust shall be invested in investments that, consistent with the other terms and objectives in the investment policy, give preference to Indiana companies or Indiana venture capital firms.
(3) Not more than twenty-five million dollars ($25,000,000) may be invested in any one (1) particular investment fund or investment firm.
(4) Such other investment parameters and procedures as the board determines are prudent to ensure that investments are consistent with this chapter.
(b) The investment policy adopted by the board must give adequate time to change current investments in a prudent manner.
(c) The board may contract with investment management professionals, investment advisers, and legal counsel to assist in the investment of the fund and may pay the expenses incurred under those contracts from the fund.
(d) The board has the powers, duties, restrictions, limitations, and penalties in connection with the board's and the treasurer of state's investment and management of the assets of trust as if the following provisions pertaining to the public pension and retirement funds made reference to the trust and the board:
(1) IC 5-10.2-2-2.5.
(2) IC 5-10.2-2-13.
(3) IC 5-10.3-5-3.
(4) IC 5-10.3-5-4.
(5) IC 5-10.3-5-5.
(6) IC 5-10.3-5-6.
(7) IC 5-10.4-3-10.
(8) IC 5-10.4-3-12.
(9) IC 5-10.4-3-13.
(10) IC 5-10.4-3-14.
(11) IC 5-10.4-3-15.
(12) IC 5-10.4-3-16.
(e) Compliance with the established investment policy is definitive evidence of compliance with the applicable investment standards in subsection (d).
As added by P.L.217-2017, SEC.69. Amended by P.L.189-2018, SEC.78; P.L.201-2023, SEC.113.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.1. Next Level Indiana Trust Fund › 8-14-15.1-9. Next Level Indiana Fund Investment Board Is Trustee of the Trust

Sec. 9. The board established by section 7 of this chapter shall act as trustee of the trust.
As added by P.L.217-2017, SEC.69.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.1. Next Level Indiana Trust Fund › 8-14-15.1-10. Trust Amendments Prohibited

Sec. 10. A trust established under this chapter may not be revoked or terminated by the authority, the board, the treasurer of state, or any other person, nor may it be amended or altered by the authority, the board, the treasurer of state, or any other person. However, the terms of the trust provide that the trust terminates when no funds remain in the trust.
As added by P.L.217-2017, SEC.69.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.1. Next Level Indiana Trust Fund › 8-14-15.1-11. Treasurer of State to Administer and Manage Trust

Sec. 11. (a) The treasurer of state shall:
(1) administer and manage the trust;
(2) invest the money in the trust at the direction of the trustee consistent with the investment policies adopted by the board; and
(3) deposit in the trust:
(A) any accrued interest from the investment of money in the trust;
(B) proceeds from the sale of trust assets; and
(C) other income or returns from the investment of money in the trust.
(b) Notwithstanding IC 5-13, the treasurer of state shall invest the money in the trust not currently needed to meet the obligations of the trust under the investment policies adopted by the board. The treasurer of state on behalf of the board may contract with investment management professionals, investment advisers, and legal counsel to assist in the investment of the trust and may pay the expenses incurred under those contracts from the trust.
(c) IC 4-9.1-1-8 and IC 4-9.1-1-9 do not apply to a trust established under this chapter.
(d) Money and investments in the trust at the end of the state fiscal year do not revert to the state general fund.
As added by P.L.217-2017, SEC.69.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.1. Next Level Indiana Trust Fund › 8-14-15.1-12. Uniform Management of Institutional Funds Act and Trust Code Do Not Apply

Sec. 12. IC 30-2-12 and IC 30-4 do not apply to a trust established under this chapter.
As added by P.L.217-2017, SEC.69.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.1. Next Level Indiana Trust Fund › 8-14-15.1-13. Trust Distributions of Principal Prohibited; Income From Trust Investments Distributed to the Major Moves Construction Fund at Discretion of the Trustee

Sec. 13. (a) The principal of the trust may not be distributed during the term of the trust.
(b) The income that accrues from the investment of the trust shall be deposited in the trust.
(c) On March 15 in years set forth in the investment policy adopted by the board, the treasurer of state shall transfer all income accruing to the trust to the major moves construction fund.
As added by P.L.217-2017, SEC.69.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.1. Next Level Indiana Trust Fund › 8-14-15.1-14. Examination by State Board of Accounts

Sec. 14. Any records, files, or documents relating to the trust may be examined by the state board of accounts at a time selected by the state board of accounts. The trustee shall upon request of the state board of accounts:
(1) produce and submit any records, files, or documents related to the trust; and
(2) assist in every way the state board of accounts in its work in making an examination.
As added by P.L.217-2017, SEC.69.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.1. Next Level Indiana Trust Fund › 8-14-15.1-15. Violations; Attorney General Petitions

Sec. 15. (a) This section applies to the authority, the board, the treasurer of state, and any other person that does any of the following with respect to the trust established under this chapter:
(1) Commits a breach of the trust.
(2) Violates the mandate of the trust or the trust agreement.
(3) Violates a duty imposed by this chapter or the trust agreement.
(b) The attorney general may petition a court to impose one (1) or more of the following remedies for a breach or violation enumerated in subsection (a):
(1) Injunctive relief.
(2) Appointment of temporary receivers.
(3) Permanent removal of any person serving on the board.
(4) Appointment of a permanent replacement for any person serving on the board pending approval of a replacement by the governor.
Any remedy under this subsection is in addition to any other remedy available at law or in equity.
As added by P.L.217-2017, SEC.69.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.1. Next Level Indiana Trust Fund › 8-14-15.1-16. Report to Budget Committee

Sec. 16. The trustee shall report to the budget committee every six (6) months concerning the investment of trust assets, the returns on those investments, and other actions taken by the trustee and the board.
As added by P.L.217-2017, SEC.69.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.2. Next Generation Trust Fund › 8-14-15.2-2. "Principal of the Trust"

Sec. 2. As used in this chapter, "principal of the trust" means an amount equal to two hundred fifty million dollars ($250,000,000).
As added by P.L.189-2018, SEC.79.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.2. Next Generation Trust Fund › 8-14-15.2-4. "Trustee"

Sec. 4. As used in this chapter, "trustee" refers to the trustee of the trust designated under section 8 of this chapter.
As added by P.L.189-2018, SEC.79.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.2. Next Generation Trust Fund › 8-14-15.2-5. Establishment of Next Generation Trust; Uses of the Trust

Sec. 5. (a) The authority shall establish a next generation trust fund to hold title to proceeds transferred to the trust fund under IC 8-14-15.1-5.5 or section 10 of this chapter, to be used exclusively for the provision of highways, roads, and bridges for the benefit of the people of Indiana and the users of those facilities or for the purpose set forth in section 10 of this chapter.
(b) The trust shall be established as a charitable trust, separate from the state, but for the benevolent public purposes provided in this section.
(c) The trust consists of the proceeds transferred to the trust under IC 8-14-15.1-5.5 or section 10 of this chapter, and any income that accrues from the investment of these proceeds.
As added by P.L.189-2018, SEC.79.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.2. Next Generation Trust Fund › 8-14-15.2-6. Trust Agreement

Sec. 6. The chairperson of the authority shall enter into a trust agreement on behalf of the authority with the treasurer of state in conformity with IC 30-4-2-1. Any provision of the trust agreement entered into under this section that is inconsistent with the provisions or intent of this chapter is void and of no further force or effect.
As added by P.L.189-2018, SEC.79.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.2. Next Generation Trust Fund › 8-14-15.2-7. Trust Established as an Irrevocable Trust; Termination of Trust

Sec. 7. A trust established under this chapter must be an irrevocable trust and may not be revoked or terminated by the authority or any other person, nor may it be amended or altered by the authority or any other person. However, the terms of the trust must provide that the trust terminates when no funds remain in the trust.
As added by P.L.189-2018, SEC.79.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.2. Next Generation Trust Fund › 8-14-15.2-9. Duties of the Trustee; Investment of Money in the Trust

Sec. 9. (a) The trustee shall:
(1) administer and manage the trust;
(2) invest the money in the trust; and
(3) deposit in the trust any interest that accrues from the investment of these funds.
(b) Notwithstanding IC 5-13, the trustee shall invest the money in the trust not currently needed to meet the obligations of the trust in the same manner as money is invested by the Indiana public retirement system under IC 5-10.3-5. However, the trustee may not invest the money in the trust in equity securities. The trustee shall also comply with the prudent investor rule set forth in IC 30-4-3.5. The trustee may contract with investment management professionals, investment advisors, and legal counsel to assist in the investment of the trust and may pay the state expenses incurred under those contracts from the trust.
(c) IC 4-9.1-1-8 and IC 4-9.1-1-9 do not apply to a trust established under this chapter.
(d) Money in the trust fund at the end of a state fiscal year does not revert to the state general fund.
As added by P.L.189-2018, SEC.79.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.2. Next Generation Trust Fund › 8-14-15.2-10. Use of Principal to Make and Secure Certain Lease Rental Payments; Transfer of Money if Insufficient Grant Proceeds Are Received From the Federal Government; Report by the State Budget Director

Sec. 10. (a) The principal of the trust may be used to make and secure lease rental payments that:
(1) are payable from grant proceeds from the federal government; and
(2) will be used to pay bonds or notes issued by the authority pursuant to IC 5-1.3.
(b) If grant proceeds received from the federal government are not in an amount sufficient to pay a lease rental payment described in subsection (a), the authority shall notify the trustee when the lease rental payment is due and the amount of the shortfall. Upon receiving notice from the authority, the trustee shall promptly transfer moneys in the trust in the amount of the shortfall to or at the direction of the authority for the purpose of making the lease rental payment.
(c) If a transfer is made under subsection (b), the state budget director shall transfer funds from the state general fund to the trust, in an amount equal to the transfer made under subsection (b). The state budget director shall submit a report to the budget committee within thirty (30) days after the transfer to the trust.
As added by P.L.189-2018, SEC.79.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.2. Next Generation Trust Fund › 8-14-15.2-12. Diminishment of Trust Principal; Deposit of Trust Income; Transfer of Trust Income to Major Moves Construction Fund

Sec. 12. (a) Except as otherwise required by section 10 of this chapter, the principal of the trust may not be diminished during the term of the trust.
(b) The income that accrues from investment of the trust shall be deposited in the trust.
(c) On March 15, 2021, and March 15 every five (5) years thereafter, the treasurer of state shall transfer all interest accruing to the trust to the major moves construction fund.
As added by P.L.189-2018, SEC.79.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.2. Next Generation Trust Fund › 8-14-15.2-13. Trust Report Is a Public Record; Attorney General May Petition for Accounting

Sec. 13. The report required under IC 30-4-5-12 is a public record. The attorney general may petition for an accounting as permitted by IC 30-4-5-12.
As added by P.L.189-2018, SEC.79.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.2. Next Generation Trust Fund › 8-14-15.2-14. Petition by Attorney General for Remedies if Breach of Trust, Violation of Trust Mandate, or Violation of Duty

Sec. 14. (a) This section applies if a person does any of the following with respect to a trust created under this chapter:
(1) Commits a breach of the trust.
(2) Violates the mandate of the trust or trust agreement.
(3) Violates a duty imposed by this chapter, the trust agreement, or IC 30-4.
(b) The attorney general may petition a court to impose one (1) or more of the remedies described in IC 30-4-5.5-1.
As added by P.L.189-2018, SEC.79.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 15.2. Next Generation Trust Fund › 8-14-15.2-15. Examination of Records, Files, and Documents by the State Board of Accounts

Sec. 15. Any records, files, or documents relating to the trust may be examined by the state board of accounts at a time selected by the state board of accounts. The trustee shall upon request of the state board of accounts:
(1) produce and submit any records, files, or documents related to the trust; and
(2) assist in every way the state board of accounts in its work in making an examination.
As added by P.L.189-2018, SEC.79.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 16. Local Major Moves Construction Funds › 8-14-16-1. Application

Sec. 1. This chapter applies only to the following counties:
(1) A county having a population of more than thirty-four thousand four hundred (34,400) and less than thirty-five thousand (35,000).
(2) A county having a population of more than forty thousand (40,000) and less than forty-three thousand (43,000).
(3) A county having a population of more than one hundred twelve thousand (112,000) and less than one hundred twenty thousand (120,000).
(4) A county having a population of more than two hundred thousand (200,000) and less than two hundred fifty thousand (250,000).
(5) A county having a population of more than two hundred fifty thousand (250,000) and less than three hundred thousand (300,000).
(6) A county having a population of more than one hundred seventy thousand (170,000) and less than one hundred seventy-four thousand (174,000).
(7) A county having a population of more than four hundred thousand (400,000) and less than seven hundred thousand (700,000).
As added by P.L.47-2006, SEC.7. Amended by P.L.119-2012, SEC.91; P.L.104-2022, SEC.67.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 16. Local Major Moves Construction Funds › 8-14-16-3. Distributions by County Auditor

Sec. 3. Money distributed to a county described in section 1 of this chapter from the major moves construction fund under IC 8-14-14-6(a)(3) shall be distributed by the county auditor among the county and each of the cities and towns in the county that is eligible to receive a distribution from the motor vehicle highway account under IC 8-14-1, in the same proportion among the county, cities, and towns as funds are distributed from the motor vehicle highway account under IC 8-14-1.
As added by P.L.47-2006, SEC.7.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 16. Local Major Moves Construction Funds › 8-14-16-4. Establishment of Funds

Sec. 4. (a) Each county, city, or town that receives a distribution under section 3 of this chapter shall establish a local major moves construction fund.
(b) The fund consists of money distributed to the county, city, or town from the major moves construction fund under section 3 of this chapter.
(c) The fiscal officer of the county, city, or town shall administer the fund.
(d) Subject to subsection (f), the fiscal body of the county, city, or town may appropriate money in the fund for a purpose described in section 5 of this chapter. The appropriations of money in the fund must be included as a part of the annual budget for the calendar year in accordance with IC 6-1.1-17.
(e) Money remaining in the fund at the end of a particular calendar year remains in the fund and does not revert to any other fund.
(f) A county fiscal body must consult with the county executive before making an appropriation under this section.
As added by P.L.47-2006, SEC.7.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 16. Local Major Moves Construction Funds › 8-14-16-5. Uses of Money in Fund

Sec. 5. Money in the fund may be expended only for the following purposes:
(1) Construction of highways, roads, and bridges.
(2) In a county that is a member of the northwest Indiana regional development authority, or in a city or town located in such a county, any purpose for which the regional development authority may make expenditures under IC 36-7.5.
(3) Providing funding for economic development projects (as defined in IC 6-3.6-2-8(1) or IC 6-3.6-2-8(2)(A) through IC 6-3.6-2-8(2)(K)).
(4) Matching federal grants for a purpose described in this section.
(5) Providing funding for interlocal agreements under IC 36-1-7 for a purpose described in this section.
(6) Providing the county's, city's, or town's contribution to a regional development authority established under IC 36-7.6-2-3.
As added by P.L.47-2006, SEC.7. Amended by P.L.232-2007, SEC.6; P.L.197-2016, SEC.82.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14. Highway Finances › Chapter 17. Alternative Transportation Construction Fund › 8-14-17-1. "Authority"

Sec. 1. As used in this chapter, "authority" refers to the Indiana finance authority established by IC 5-1.2-3.
As added by P.L.203-2007, SEC.4. Amended by P.L.189-2018, SEC.80.