January 22, 2013





HOUSE BILL No. 1077

_____


DIGEST OF HB 1077 (Updated January 17, 2013 10:37 am - DI 75)



Citations Affected: IC 6-3.5.

Synopsis: Fund transfers. Designates the county, city, or town executive as the governing body authorized to transfer money from an economic development income tax. Requires the executive to adjust the capital improvement plan to reflect the transfer. Provides that after appropriation and transfer, the money may be used for the purposes of the fund to which it is transferred. Provides that a unit may not transfer money if the amount transferred would impair the unit's ability to satisfy any debts, liabilities, or obligations for which county economic development income taxes are pledged or otherwise encumbered, including transfers required by the northwest Indiana regional development authority law.

Effective: Upon passage.





Soliday




    January 7, 2013, read first time and referred to Committee on Local Government.
    January 22, 2013, reported _ Do Pass.






January 22, 2013

First Regular Session 118th General Assembly (2013)


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.
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HOUSE BILL No. 1077



    A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

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

SOURCE: IC 6-3.5-7-12.7; (13)HB1077.1.1. -->     SECTION 1. IC 6-3.5-7-12.7, AS ADDED BY P.L.53-2011, SECTION 1, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 12.7. A (a) Subject to subsection (b), the executive of a county, by resolution or ordinance, or the executive of a city or town may at any time by ordinance or resolution, transfer to:
        (1) its general fund; or
        (2) any other appropriated funds fund of the county, city, or town that the executive serves;
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. The executive shall adjust the unit's capital improvement plan adopted under section 15 of this chapter to reflect the transfer. After appropriation of the money by the fiscal body of the county, city, or town in a budget or supplemental budget (as required by law), the money transferred under this section may be used for the purposes of the fund to which the

money is transferred.
     (b) A unit may not transfer money under subsection (a) if the amount transferred would impair the unit's ability to satisfy any debts, liabilities, or obligations for which county economic development income taxes are pledged or otherwise encumbered, including transfers required by IC 36-7.5-4-2.

SOURCE: ; (13)HB1077.1.2. -->     SECTION 2. An emergency is declared for this act.