Introduced Version
HOUSE BILL No. 1489
_____
DIGEST OF INTRODUCED BILL
Citations Affected:
IC 6-2.5-10-1
;
IC 8-23-25-4.
Synopsis: High speed rail funding. Provides that for state fiscal year
2004, the sales taxes normally deposited in the industrial rail service
fund are to be deposited in the high speed rail development fund
instead. Requires the Indiana department of transportation to use the
money to conduct environmental impact studies required for the
development of high speed rail.
Effective: July 1, 2003.
January 15, 2003, read first time and referred to Committee on Interstate and International
Cooperation.
Introduced
First Regular Session 113th General Assembly (2003)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
Constitution) is being amended, the text of the existing provision will appear in this style type,
additions will appear in
this style type, and deletions will appear in
this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional
provision adopted), the text of the new provision will appear in
this style type. Also, the
word
NEW will appear in that style type in the introductory clause of each SECTION that adds
a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in
this style type or
this style type reconciles conflicts
between statutes enacted by the 2002 Regular or Special Session of the General Assembly.
HOUSE BILL No. 1489
A BILL FOR AN ACT to amend the Indiana Code concerning
utilities and transportation.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 6-2.5-10-1; (03)IN1489.1.1. -->
SECTION 1.
IC 6-2.5-10-1
, AS AMENDED BY P.L.192-2002(ss),
SECTION 65, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2003]: Sec. 1. (a) The department shall account for all state
gross retail and use taxes that it collects.
(b) Except as provided in subsection (c), the department shall
deposit those collections in the following manner:
(1) Fifty percent (50%) of the collections shall be paid into the
property tax replacement fund established under
IC 6-1.1-21.
(2) Forty-nine and one hundred ninety-two thousandths percent
(49.192%) of the collections shall be paid into the state general
fund.
(3) Six hundred thirty-five thousandths of one percent (0.635%)
of the collections shall be paid into the public mass transportation
fund established by
IC 8-23-3-8.
(4) Thirty-three thousandths of one percent (0.033%) of the
collections shall be deposited into the industrial rail service fund
established under
IC 8-3-1.7-2.
(5) Fourteen-hundredths of one percent (0.14%) of the collections
shall be deposited into the commuter rail service fund established
under
IC 8-3-1.5-20.5.
(c) After June 30, 2003, and before July 1, 2004, the department
shall deposit those collections in the following manner:
(1) Fifty percent (50%) of the collections shall be paid into the
property tax replacement fund established under
IC 6-1.1-21.
(2) Forty-nine and one hundred ninety-two thousandths
percent (49.192%) of the collections shall be paid into the
state general fund.
(3) Six hundred thirty-five thousandths of one percent
(0.635%) of the collections shall be paid into the public mass
transportation fund established by
IC 8-23-3-8.
(4) Thirty-three thousandths of one percent (0.033%) of the
collections shall be deposited into the high speed rail
development fund established under
IC 8-23-25-1.
(5) Fourteen-hundredths of one percent (0.14%) of the
collections shall be deposited into the commuter rail service
fund established under
IC 8-3-1.5-20.5.
SOURCE: IC 8-23-25-4; (03)IN1489.1.2. -->
SECTION 2.
IC 8-23-25-4
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 4.
(a) Except as
provided in subsection (b), money from the high speed rail
development fund may be disbursed to the Interstate Rail Passenger
Advisory Council under
IC 8-3-19-2.
(b) Sales tax revenues deposited in the high speed rail
development fund under
IC 6-2.5-10-1
during the state fiscal year
ending June 30, 2004, must be used by the department to conduct
environmental impact studies required for the development of high
speed rail.