SB 349-1_ Filed 01/24/2013, 12:19 ChairPerson

COMMITTEE REPORT




MADAM PRESIDENT:

    The Senate Committee on Utilities, to which was referred Senate Bill No. 349, has had the same under consideration and begs leave to report the same back to the Senate with the recommendation that said bill be AMENDED as follows:

    Delete the title and insert the following:
    A BILL FOR AN ACT to amend the Indiana Code concerning local government.
    Delete everything after the enacting clause and insert the following:

SOURCE: IC 36-1-14-1.5; (13)AM034901.1. -->     SECTION 1. IC 36-1-14-1.5 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2013]: Sec. 1.5. (a) As used in this section, "local economic development organization" includes the following:
        (1) A nonprofit corporation established under state law whose primary purpose is the promotion of industrial or business development in Indiana, the retention or expansion of Indiana businesses, or the development of entrepreneurial activities in Indiana.
        (2) A nonprofit educational organization whose primary purpose is educating and developing local leadership for economic development initiatives.
        (3) Any similar organization, including a partnership between private enterprise and one (1) or more units, the purposes of which include:
            (A) promoting development activities in one (1) or more units;
            (B) coordinating local efforts to attract jobs and new business investment;
            (C) providing assistance to existing businesses to foster growth and job retention; and
            (D) sustaining and improving the quality of life in the units served.
    (b) A municipal legislative body, with the approval of the board (as defined in IC 8-1.5-3-2) of the municipality's municipally owned utility, may donate funds from the municipally owned utility's surplus earnings (as defined in IC 8-1.5-3-11) to a local economic development organization as long as terms and conditions of any bond ordinance, resolution, indenture, contract under IC 8-1-2.2, or similar instrument binding upon the municipally owned utility are complied with before the donation is made.

    (Reference is to SB 349 as introduced.)

and when so amended that said bill do pass .

Committee Vote: Yeas 10, Nays 0.

____________________________________

Senator Merritt, Chairperson


AM 034901/DI 103    2013