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.





Kersey, Stilwell




    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.