February 18, 2011
SENATE BILL No. 266
DIGEST OF SB 266
(Updated February 16, 2011 1:09 pm - DI 106)
Citations Affected: IC 4-4; IC 5-28; IC 31-16.
Synopsis: Noncode statutes project trailer provisions. Deletes certain
references to obsolete entities in codified noncode transitional
provisions relating to the creation of the Indiana finance authority.
Repeals a codified noncode statute relating to enforcement of child
support orders that was held unconstitutional by the Indiana court of
Effective: July 1, 2011.
January 6, 2011, read first time and referred to Committee on Rules and Legislative
January 20, 2011, amended; reassigned to Committee on Judiciary.
February 17, 2011, reported favorably _ Do Pass.
February 18, 2011
First Regular Session 117th General Assembly (2011)
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
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
this style type
between statutes enacted by the 2010 Regular Session of the General Assembly.
SENATE BILL No. 266
A BILL FOR AN ACT to amend the Indiana Code concerning
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 4-4-11-16.7; (11)SB0266.2.1. -->
SECTION 1. IC 4-4-11-16.7, AS ADDED BY SEA 490-2011,
SECTION 20, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2011]: Sec. 16.7. (a) As used in this section, "Indiana
development finance authority" refers to the Indiana development
finance authority transferred to
(1) the Indiana economic development corporation by
P.L.224-2003, SECTION 264; and
(2) the authority by P.L.235-2005, SECTION 213.
(b) As used in this section, "Indiana employment development
commission" refers to the Indiana employment development
commission transferred to the Indiana development finance authority
by P.L.11-1990, SECTION 139.
(c) The restrictions on eligibility of any mortgage or security
agreement under IC 4-4-11-16 (before its repeal) do not invalidate any
guarantee of the Indiana employment development commission made
before January 1, 1985.
SOURCE: IC 4-4-11-16.8; (11)SB0266.2.2. -->
SECTION 2. IC 4-4-11-16.8, AS ADDED BY SEA 490-2011,
SECTION 21, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2011]: Sec. 16.8. (a) All powers, duties, and liabilities of the
Indiana employment development commission and the Indiana
agricultural development corporation with respect to bonds issued by
the commission or the corporation in connection with any trust
agreement or indenture securing those bonds are transferred to the
Indiana development finance authority. as successor.
(b) The rights of the trustee under any trust agreement or indenture
and the rights of the bondholders of the Indiana employment
development commission and the Indiana agricultural development
corporation remain unchanged, although the powers, duties, and
liabilities of the commission and the corporation have been transferred
Indiana development finance authority.
(c) All bonds issued by the Indiana employment development
commission and the Indiana agricultural development corporation are
hereby legalized and declared valid if these bonds have been delivered
and payment for those bonds has been received before July 1, 1990. All
proceedings had and actions taken under which the bonds were issued
are hereby fully legalized and declared valid.
SOURCE: IC 5-28-3-5; (11)SB0266.2.3. -->
SECTION 3. IC 5-28-3-5, AS ADDED BY SEA 490-2011,
SECTION 105, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2011]: Sec. 5. The following bodies corporate
and politic are transferred to the corporation to be operated as separate
corporate entities under the supervision of the corporation on July 1,
(1) Indiana small business development corporation established
under IC 4-3-12-1 (before its repeal).
(2) Indiana economic development council established under
IC 4-3-14 (before its repeal).
(3) Indiana development finance authority established by
IC 4-4-11-4 (before its amendment by P.L.235-2005).
SOURCE: IC 31-16-12-0.3; (11)SB0266.2.4. -->
SECTION 4. IC 31-16-12-0.3 IS REPEALED [EFFECTIVE JULY