First Regular Session 117th General Assembly (2011)


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    HOUSE ENROLLED ACT No. 1275



     AN ACT to amend the Indiana Code concerning local government.

Be it enacted by the General Assembly of the State of Indiana:

SOURCE: IC 6-3.5-7-12.7; (11)HE1275.1.1. -->
    SECTION 1. IC 6-3.5-7-12.7 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2011]: Sec. 12.7. A county, city, or town may at any time, by ordinance or resolution, transfer to:
        (1) its general fund; or
        (2) any other appropriated funds of the county, city, or town;
money that has been deposited in the economic development income tax fund established by the county, city, or town under section 13.1 of this chapter.

SOURCE: IC 36-1-8-5.1; (11)HE1275.1.2. -->     SECTION 2. IC 36-1-8-5.1 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2011]: Sec. 5.1. (a) A political subdivision may establish a rainy day fund by the adoption of:
        (1) an ordinance, in the case of a county, city, or town; or
        (2) a resolution, in the case of any other political subdivision.
    (b) An ordinance or a resolution adopted under this section must specify the following:
        (1) The purposes of the rainy day fund.
        (2) The sources of funding for the rainy day fund, which may include the following:
            (A) Unused and unencumbered funds under:
                (i) section 5 of this chapter;
                (ii) IC 6-3.5-1.1-21.1;
                (iii) IC 6-3.5-6-17.3; or
                (iv) IC 6-3.5-7-17.3.
            (B) Any other funding source:
                (i) specified in the ordinance or resolution adopted under this section; and
                (ii) not otherwise prohibited by law.
    (c) The rainy day fund is subject to the same appropriation process as other funds that receive tax money.
    (d) In any fiscal year, a political subdivision may transfer under section 5 of this chapter not more than ten percent (10%) of the political subdivision's total annual budget for that fiscal year, adopted under IC 6-1.1-17, to the rainy day fund.
    (e) A political subdivision may use only the funding sources specified in subsection (b)(2)(A) or in the ordinance or resolution establishing the rainy day fund. The political subdivision may adopt a subsequent ordinance or resolution authorizing the use of another funding source.
    (f) The department of local government finance may not reduce the actual or maximum permissible levy of a political subdivision as a result of a balance in the rainy day fund of the political subdivision.
     (g) A county, city, or town may at any time, by ordinance or resolution, transfer to:
        (1) its general fund; or
        (2) any other appropriated funds of the county, city, or town;
money that has been deposited in the rainy day fund of the county, city, or town.


HEA 1275

Figure

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