YES:
MR. SPEAKER:
Your Committee on Financial Institutions , to which was referred House Bill
1351 , has had the same under consideration and begs leave to report the same back to the
House with the recommendation that said bill be amended as follows:
established by section 33 of this chapter exceeds five hundred thousand
dollars ($500,000), the treasurer of state may, and at least once each
fiscal year shall, transfer to the state general fund the balance of the
principal of the abandoned property fund that exceeds five hundred
thousand dollars ($500,000).
(c) If a claim is allowed or a refund is ordered under this chapter
that is more than five hundred thousand dollars ($500,000), the
treasurer of state shall transfer from the state general fund sufficient
money to make prompt payment of the claim. There is annually
appropriated to the treasurer of state from the state general fund the
amount of money sufficient to implement this subsection.
(d) Before making a deposit into the abandoned property fund, the
attorney general shall record the following:
(1) The name and last known address of each person appearing
from the holder's reports to be entitled to the abandoned property.
(2) The name and last known address of each insured person or
annuitant.
(3) The number, the name of the corporation, and the amount due
concerning any policy or contract listed in the report of a life
insurance company.
(e) Except as provided in subsection subsections (f) and (g),
earnings on the property custody fund and the abandoned property fund
shall be credited to each fund.
(f) This subsection applies before July 1, 2007. On July 1 of each
year, the interest balance in the property custody fund established by
section 32 of this chapter and the interest balance in the abandoned
property fund shall be transferred to the state general fund.
(g) This subsection applies after June 30, 2007. On July 1 of
each year, the interest balance in the property custody fund
established by section 32 of this chapter and the interest balance in
the abandoned property fund shall be transferred to the affordable
housing and community development fund established by
IC 5-20-4-7.".
an ordinance authorizing the fee described in this subdivision.
An ordinance adopted under this subdivision may authorize
the county recorder to charge a fee of:
(A) five dollars ($5) for the first page; and
(B) one dollar ($1) for each additional page;
of each document the recorder records.
(13) This subdivision applies in a county containing a
consolidated city that has established a housing trust fund
under IC 36-7-15.1-35.5(e). The county fiscal body may adopt
an ordinance authorizing the fee described in this subdivision.
An ordinance adopted under this subdivision may authorize
the county recorder to charge a fee of:
(A) five dollars ($5) for the first page; and
(B) one dollar ($1) for each additional page;
of each document the recorder records.".
Page 4, after line 23, begin an new paragraph and insert:
" (i) This subsection applies to a county other than a county
containing a consolidated city. The county treasurer shall
distribute money collected by the county recorder under subsection
(b)(12) as follows:
(1) Sixty percent (60%) of the money collected by the county
recorder under subsection (b)(12) shall be distributed to the
units in the county that have established an affordable
housing fund under IC 5-20-5-15.5 for deposit in the fund. The
amount to be distributed to a unit is the amount available for
distribution multiplied by a fraction. The numerator of the
fraction is the population of the unit. The denominator of the
fraction is the population of all units in the county that have
established a fund. The population to be used for a county
that establishes a fund is the population of the county outside
any city or town that has established a fund.
(2) Forty percent (40%) of the money collected by the county
recorder under subsection (b)(12) shall be distributed to the
treasurer of state for deposit in the state affordable housing
and community development fund established under
IC 5-20-4-7 for the purposes of the fund.
The money shall be distributed under this subsection before the
sixteenth day of the month following the month in which the money
is collected from the county recorder.
(j) This subsection applies to a county described in subsection
(b)(13). The county treasurer shall distribute money collected by
the county recorder under subsection (b)(13) as follows:
(1) Sixty percent (60%) of the money collected by the county
recorder under subsection (b)(13) shall be deposited in the
housing trust fund established under IC 36-7-15.5-35.5(e) for
the purposes of the fund.
(2) Forty percent (40%) of the money collected by the county
recorder under subsection (b)(13) shall be distributed to the
treasurer of state for deposit in the state affordable housing
and community development fund established under
IC 5-20-4-7 for the purposes of the fund.
The money shall be distributed under this subsection before the
sixteenth day of the month following the month in which the money
is collected from the county recorder.
housing trust fund advisory committee is comprised of:
(1) one (1) member appointed by the mayor, to represent the
interests of low income families;
(2) one (1) member appointed by the mayor, to represent the
interests of owners of subsidized, multifamily housing
communities;
(3) one (1) member appointed by the mayor, to represent the
interests of banks and other financial institutions;
(4) one (1) member appointed by the mayor, of the department of
metropolitan development;
(5) three (3) members representing the community at large
appointed by the commission, from nominations submitted to the
commission as a result of a general call for nominations from
neighborhood associations, community based organizations, and
other social services agencies;
(6) one (1) member appointed by and representing the Coalition
for Homeless Intervention and Prevention of Greater Indianapolis;
(7) one (1) member appointed by and representing the Local
Initiatives Support Corporation;
(8) one (1) member appointed by and representing the
Indianapolis Coalition for Neighborhood Development; and
(9) one (1) member appointed by and representing the
Indianapolis Neighborhood Housing Partnership.
Members of the low income housing trust fund advisory committee
serve for a term of four (4) years, and are eligible for reappointment. If
a vacancy exists on the committee, the appointing authority who
appointed the former member whose position has become vacant shall
appoint an individual to fill the vacancy. A committee member may be
removed at any time by the appointing authority who appointed the
committee member.
(j) The low income housing trust fund advisory committee shall
make recommendations to the commission regarding:
(1) the development of policies and procedures for the uses of the
low income housing trust fund; and
(2) long term sources of capital for the low income housing trust
fund, including:
(A) revenue from:
(i) development ordinances;
and when so amended that said bill do pass.