SB 473-47_ Filed 04/11/2011, 11:27 Delaney
PREVAILED Roll Call No. _______
FAILED Ayes _______
WITHDRAWN Noes _______
RULED OUT OF ORDER
HOUSE MOTION ____
I move that Engrossed Senate Bill 473 be amended to read as follows:
SOURCE: Page 1, line 1; (11)MO047342.1. -->
Page 1, between the enacting clause and line 1, begin a new
paragraph and insert:
SOURCE: IC 8-14-14-5; (11)MO047342.1. -->
"SECTION 1. IC 8-14-14-5, AS AMENDED BY P.L.203-2007,
SECTION 2, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2011]: Sec. 5. (a) The major moves construction fund is
established for the purpose of:
(1) funding projects
other than passenger or freight railroad
systems as described in IC 8-15.7-2-14(a)(4),
under IC 8-15.7 or
(2) funding other projects in the department's transportation plan;
(3) funding distributions under sections 6 and 7 of this chapter;
(4) funding public transit, bikeway, and light rail projects.
(b) The fund shall be administered by the department.
(c) Notwithstanding IC 5-13, the treasurer of state shall invest the
money in the fund not currently needed to meet the obligations of the
fund in the same manner as money is invested by the public employees'
retirement fund under IC 5-10.3-5. However, the treasurer of state may
not invest the money in the fund in equity securities. The treasurer of
state may contract with investment management professionals,
investment advisors, and legal counsel to assist in the investment of the
fund and may pay the state expenses incurred under those contracts
from the fund. Interest that accrues from these investments shall be
deposited in the fund.
(d) The fund consists of the following:
(1) Distributions to the fund from the toll road fund under
(2) Distributions to the fund from the next generation trust fund
under IC 8-14-15.
(3) Appropriations to the fund.
(4) Gifts, grants, loans, bond proceeds, and other money received
for deposit in the fund.
(5) Revenues arising from:
(A) a tollway under IC 8-15-3 or IC 8-23-7-22; or
(B) a toll road under IC 8-15-2 or IC 8-23-7-23;
that the department designates as part of, and deposits in, the
(6) Payments, other than payments for passenger or freight
railroad systems as described in IC 8-15.7-2-14(a)(4), made to the
authority or the department from operators under IC 8-15.7.
(7) Interest, premiums, or other earnings on the fund.
(e) The fund is considered a trust fund for purposes of IC 4-9.1-1-7.
Money may not be transferred, assigned, or otherwise removed from
the fund by the state board of finance, the budget agency, or any other
(f) Money in the fund at the end of a state fiscal year does not revert
to the state general fund.
(g) Money in the fund must be appropriated by the general assembly
to be available for expenditure.".
Renumber all SECTIONS consecutively.
(Reference is to ESB 473 as printed April 8, 2011.)
MO047342/DI 103 2011