MR. PRESIDENT:
The Senate Committee on Rules and Legislative Procedure, to which was referred Senate Bill No. 10,
has had the same under consideration and begs leave to report the same back to the Senate with the
recommendation that said bill be AMENDED as follows:
Delete the title and insert the following:
"A BILL FOR AN ACT to amend the Indiana Code concerning state
and local administration.".
Delete everything after the enacting clause and insert the following:
"SECTION 1.
IC 4-10-18-8
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JUNE 15, 2003]: 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 ten percent (7%) (10%) of the total
state general fund revenues for that state fiscal year, the excess is
appropriated from the fund to the property tax replacement fund
established under
IC 6-1.1-21.
The auditor of state and the treasurer of
state shall transfer the amount so appropriated from the fund to the
property tax replacement fund during the immediately following state
fiscal year.
(b) If an appropriation is made out of the fund under section 4 of
this chapter for a state fiscal year during which a transfer is to be made
from the fund to the property tax replacement fund, the amount of the
appropriation made under subsection (a) shall be reduced by the
amount of the appropriation made under section 4 of this chapter.
However, the amount of the appropriation made under subsection (a)
may not be reduced to less than zero (0).
and when so amended that said bill be reassigned to the Senate Committee on Finance.