Sec. 1. As used in this chapter: “Adjusted personal income” for a particular reporting period means the adjusted state personal income for that reporting period as determined under section 3(b) of this chapter. “Annual growth rate” for a particular reporting period means the percentage change in adjusted personal income for the particular reporting period as […]
Note: This version of section effective 7-1-2022. See also preceding version of this section, effective until 7-1-2022. Sec. 10. (a) The state board of finance may lend money from the fund to entities listed in subsections (e) through (k) for the purposes specified in those subsections. (b) An entity must apply for the loan before […]
Note: This version of section effective until 7-1-2022. See also following version of this section, effective 7-1-2022. Sec. 10. (a) The state board of finance may lend money from the fund to entities listed in subsections (e) through (k) for the purposes specified in those subsections. (b) An entity must apply for the loan before […]
Sec. 11. (a) A loan under section 10 of this chapter from the fund is payable only from the amount of money remaining in the fund after the appropriations required by this chapter have been made. (b) This section and section 10 of this chapter do not create an obligation of: (1) the state; or […]
Sec. 12. If the amount of money in the underground petroleum storage tank excess liability trust fund established by IC 13-23-7-1 reaches zero (0), ten million dollars ($10,000,000) shall be transferred to the underground petroleum storage tank excess liability trust fund from the fund if the: (1) underground petroleum storage tank financial assurance board recommends […]
As added by P.L.28-1993, SEC.2. Repealed by P.L.93-2013, SEC.1.
Sec. 14. (a) The treasurer of state shall invest the money in the economic growth initiatives account not currently needed to further the purposes of the account in the same manner as other public funds may be invested. Income from these investments shall be deposited in the fund, but not the account, and any losses […]
Sec. 15. (a) Money in the economic growth initiatives account may be used only for grants to or for the benefit of political subdivisions for costs of qualified economic growth initiatives. (b) Making grants for qualified economic growth initiatives under this chapter will serve a public purpose by creating and retaining jobs and promoting economic […]
Sec. 16. (a) Grants to or on behalf of political subdivisions for qualified economic growth initiatives shall be made by the Indiana economic development corporation established by IC 5-28-3-1. (b) Each grant shall be made under a grant agreement by and between: (1) the Indiana economic development corporation; and (2) the political subdivision proposing the […]
Sec. 2. (a) A counter-cyclical revenue and economic stabilization fund is established to assist in stabilizing revenue during periods of economic recession. (b) The treasurer of state shall administer the fund. Amounts in the fund may be combined by the treasurer with other amounts in the state treasury for the purposes of cash management. The […]
Sec. 3. (a) Each year, the budget director shall determine the adjusted personal income and the annual growth rate for Indiana using the current reporting period. (b) The budget director shall determine the adjusted personal income for the current reporting period in the following manner: STEP ONE: Calculate the average implicit price deflator for the […]
Sec. 4. (a) If the annual growth rate for the current reporting period exceeds two percent (2%), there is appropriated to the fund from the state general fund, for the state fiscal year beginning in the current calendar year, an amount equal to the product of: (1) the total state general fund revenues for the […]
Sec. 5. (a) As soon as the auditor of state makes a final determination of the amount of total state general fund revenues for a particular state fiscal year, the auditor of state shall certify that amount to the budget director. (b) As soon as possible after receiving the certification from the auditor of state […]
Sec. 6. (a) In each budget report prepared in a current calendar year under IC 4-12-1-9, the state budget agency shall include a statement of the actual or estimated transfers made into or out of the fund under this chapter for each state fiscal year included in the report. (b) In each budget report prepared […]
Sec. 7. If: (1) the bureau revises the state personal income figure it has previously reported for the twelve (12) month period preceding the current reporting period; and (2) the revision is made after the transfer for the state fiscal year that begins in the current calendar year has initially been determined under section 5 […]
Sec. 8. (a) Except as provided in subsection (b), if the balance, at the end of a state fiscal year, in the fund exceeds seven percent (7%) of the total state general fund revenues for that state fiscal year, the excess is appropriated from the fund to the state general fund. The auditor of state […]
Sec. 9. If the total state general fund revenues for a state fiscal year, in which a transfer into the fund is made, are less than the level estimated in the budget report prepared in accord with IC 4-12-1-12(a) or IC 4-12-1-12(c) and the shortfall cannot be attributed to a statutory change in the tax […]
