HB 1121-1_ Filed 03/19/2009, 09:00
Adopted 3/19/2009
COMMITTEE REPORT
MADAM PRESIDENT:
The Senate Committee on Corrections, Criminal, and Civil Matters, to which was referred
House Bill No. 1121, 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:
SOURCE: Page 3, line 25; (09)CR112102.3. -->
Page 3, between lines 25 and 26, begin a new paragraph and insert:
SOURCE: IC 5-14-3-4.4; (09)CR112102.3. -->
"SECTION 3. IC 5-14-3-4.4 IS ADDED TO THE INDIANA CODE
AS A
NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2010]:
Sec. 4.4. (a) Except as provided in subsection
(b), records relating to negotiations between:
(1) persons required to prepare an annual report under
IC 23-1-53-1(c), IC 23-17-27-6(c), or IC 30-4-5-12(e); and
(2) industrial, research, or commercial prospects;
are exempted from section 3 of this chapter at the discretion of the
person required to prepare the annual report if the records are
created while negotiations are in progress.
(b) Records relating to a development agreement payment (as
defined in IC 23-1-20-6.2) made by a person specified under
subsection (a)(1) to an industrial, a research, or a commercial
prospect shall be available for inspection and copying under
section 3 of this chapter after negotiations with that prospect have
terminated.
(c) Subject to subsection (b), the exemption from disclosure
under subsection (a) applies to the attorney general if the attorney
general requests to inspect an annual report under IC 23-1-53-1(d),
IC 23-17-27-6(d), or IC 30-4-5-12(f).
SOURCE: IC 23-1-20-6.1; (09)CR112102.4. -->
SECTION 4. IC 23-1-20-6.1 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2010]: Sec. 6.1. "Development agreement" means an
agreement that:
(1) is between:
(A) the direct or indirect holder of an owner's license
issued under IC 4-33 or an operating agent contract (as
defined in IC 4-33-2-14.6); and
(B) either:
(i) a person; or
(ii) a unit of local government; and
(2) sets forth the holder's financial commitments to support
economic development in a unit or a geographic region.
SOURCE: IC 23-1-20-6.2; (09)CR112102.5. -->
SECTION 5. IC 23-1-20-6.2 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2010]: Sec. 6.2. "Development agreement payment"
means any payment that a direct or indirect holder of:
(1) an owner's license under IC 4-33; or
(2) an operating agent contract (as defined in IC 4-33-2-14.6);
is required to make under a development agreement.
SOURCE: IC 23-1-53-1; (09)CR112102.6. -->
SECTION 6. IC 23-1-53-1 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JANUARY 1, 2010]: Sec. 1. (a) On written
request of any shareholder, a corporation shall prepare and mail to the
shareholder annual financial statements, which may be consolidated or
combined statements of the corporation and one (1) or more of its
subsidiaries, as appropriate, that include a balance sheet as of the end
of the fiscal year most recently completed, an income statement for that
year, and a statement of changes in shareholders' equity for that year
unless that information appears elsewhere in the financial statements.
If financial statements are prepared for the corporation on the basis of
generally accepted accounting principles, the annual financial
statements must also be prepared on that basis.
(b) If the annual financial statements are reported upon by a public
accountant, the public accountant's report must accompany them. If
not, the statements must be accompanied by a statement of the
president or the person responsible for the corporation's accounting
records:
(1) stating the person's reasonable belief whether the statements
were prepared on the basis of generally accepted accounting
principles and, if not, describing the basis of preparation; and
(2) describing any respects in which the statements were not
prepared on a basis of accounting consistent with the statements
prepared for the preceding year.
(c) If a corporation is a recipient of a local development
agreement payment, the corporation shall prepare an annual
report containing the following information before February 1 of
each year:
(1) A verified accounting of all accounts associated with local
development agreement payments received in the preceding
calendar year.
(2) An itemized list of all disbursements of local development
agreement payments made to any person exceeding five
thousand dollars ($5,000) in the aggregate during the
preceding calendar year. The itemized list must include:
(A) the legal name of the recipient of a disbursement;
(B) the date of each disbursement;
(C) the amount of each disbursement; and
(D) the purpose of each disbursement.
(d) The principal officer of a corporation subject to subsection
(c) shall annually file with the attorney general a verified written
certification before March 1 stating that an annual report has been
prepared showing at least the items listed in subsection (c). The
certification must state that the annual report is available to the
attorney general upon request.
SOURCE: IC 23-17-2-15.1; (09)CR112102.7. -->
SECTION 7. IC 23-17-2-15.1 IS ADDED TO THE INDIANA
CODE AS A NEW SECTION TO READ AS FOLLOWS
[EFFECTIVE JANUARY 1, 2010]: Sec. 15.1. "Development
agreement" means an agreement that:
(1) is between:
(A) the direct or indirect holder of an owner's license
issued under IC 4-33 or an operating agent contract (as
defined in IC 4-33-2-14.6); and
(B) either:
(i) a person; or
(ii) a unit of local government; and
(2) sets forth the holder's financial commitments to support
economic development in a unit or a geographic region.
SOURCE: IC 23-17-2-15.2; (09)CR112102.8. -->
SECTION 8. IC 23-17-2-15.2 IS ADDED TO THE INDIANA
CODE AS A NEW SECTION TO READ AS FOLLOWS
[EFFECTIVE JANUARY 1, 2010]: Sec. 15.2. "Development
agreement payment" means any payment that a direct or indirect
holder of:
(1) an owner's license under IC 4-33; or
(2) an operating agent contract (as defined in IC 4-33-2-14.6);
is required to make under a development agreement.
SOURCE: IC 23-17-27-6; (09)CR112102.9. -->
SECTION 9. IC 23-17-27-6 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JANUARY 1, 2010]: Sec. 6. (a) Except as
provided in articles of incorporation or bylaws of a religious
corporation, a corporation upon written demand from a member shall
furnish the member the corporation's latest annual financial statements,
which may be consolidated or combined statements of the corporation
and the corporation's subsidiaries or affiliates, as appropriate, that
include a balance sheet as of the end of the fiscal year and statement of
operations for that year. If financial statements are prepared for the
corporation on the basis of generally accepted accounting principles,
the annual financial statements must also be prepared on that basis.
(b) If annual financial statements are reported upon by a certified
public accountant, the accountant's report must accompany the
statements. If annual financial statements are not reported upon by a
certified public accountant, the statements must be accompanied by the
statement of the president or the person responsible for the
corporation's financial accounting records that does the following:
(1) States the president's or other person's reasonable belief as to
whether the statements were prepared on the basis of generally
accepted accounting principles and, if not, describes the basis of
preparation.
(2) Describes any respects in which the statements were not
prepared on a basis of accounting consistent with the statements
prepared for the preceding year.
(c) If a corporation is a recipient of a local development
agreement payment, the corporation shall prepare an annual
report containing the following information before February 1 of
each year:
(1) A verified accounting of all accounts associated with local
development agreement payments received in the preceding
calendar year.
(2) An itemized list of all disbursements of local development
agreement payments made to any person exceeding five
thousand dollars ($5,000) in the aggregate during the
preceding calendar year. The itemized list must include:
(A) the legal name of the recipient of a disbursement;
(B) the date of each disbursement;
(C) the amount of each disbursement; and
(D) the purpose of each disbursement.
(d) The principal officer of a corporation subject to subsection
(c) shall annually file with the attorney general a verified written
certification before March 1 stating that an annual report has been
prepared showing at least the items listed in subsection (c). The
certification must state that the annual report is available to the
attorney general upon request.".
SOURCE: Page 7, line 34; (09)CR112102.7. -->
Page 7, line 34, delete "the following".
Page 7, line 35, after "(A)" delete "A" and insert " a".
Page 7, line 36, delete "." and insert " ; and".
Page 7, line 37, delete "Either:" and insert " either:".
Page 9, between lines 2 and 3, begin a new paragraph and insert:
SOURCE: IC 30-4-1-2; (09)CR112102.15. -->
"SECTION 15. IC 30-4-1-2, AS AMENDED BY P.L.61-2008,
SECTION 13, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2010]: Sec. 2. As used in this article:
(1) "Adult" means any person eighteen (18) years of age or older.
(2) "Affiliate" means a parent, descendant, spouse, spouse of a
descendant, brother, sister, spouse of a brother or sister,
employee, director, officer, partner, joint venturer, a corporation
subject to common control with the trustee, a shareholder, or
corporation who controls the trustee or a corporation controlled
by the trustee other than as a fiduciary, an attorney, or an agent.
(3) "Beneficiary" has the meaning set forth in IC 30-2-14-2.
(4) "Breach of trust" means a violation by the trustee of any duty
which is owed to the settlor or beneficiary.
(5) "Charitable trust" means a trust in which all the beneficiaries
are the general public or organizations, including trusts,
corporations, and associations, and that is organized and operated
wholly for religious, charitable, scientific, public safety testing,
literary, or educational purposes. The term does not include
charitable remainder trusts, charitable lead trusts, pooled income
funds, or any other form of split-interest charitable trust that has
at least one (1) noncharitable beneficiary.
(6) "Court" means a court having jurisdiction over trust matters.
(7) "Income", except as otherwise stated in a trust agreement, has
the meaning set forth in IC 30-2-14-4.
(8) "Income beneficiary" has the meaning set forth in
IC 30-2-14-5.
(9) "Inventory value" means the cost of property to the settlor or
the trustee at the time of acquisition or the market value of the
property at the time it is delivered to the trustee, or the value of
the property as finally determined for purposes of an estate or
inheritance tax.
(10) "Minor" means any person under the age of eighteen (18)
years.
(11) "Person" has the meaning set forth in IC 30-2-14-9.
(12) "Personal representative" means an executor or administrator
of a decedent's or absentee's estate, guardian of the person or
estate, guardian ad litem or other court appointed representative,
next friend, parent or custodian of a minor, attorney in fact, or
custodian of an incapacitated person (as defined in
IC 29-3-1-7.5).
(13) "Principal" has the meaning set forth in IC 30-2-14-10.
(14) "Qualified beneficiary" means:
(A) a beneficiary who, on the date the beneficiary's
qualification is determined:
(i) is a distributee or permissible distributee of trust income
or principal;
(ii) would be a distributee or permissible distributee of trust
income or principal if the interest of the distributee
described in item (i) terminated on that date;
(iii) would be a distributee or permissible distributee of trust
income or principal if the trust terminated on that date;
(iv) has sent the trustee a request for notice;
(v) is a charitable organization expressly designated to
receive distributions under the terms of a charitable trust;
(vi) is a person appointed to enforce a trust for the care of an
animal under IC 30-4-2-18; or
(vii) is a person appointed to enforce a trust for a
noncharitable purpose under IC 30-4-2-19; or
(B) the attorney general, if the trust is a charitable trust having
its principal place of administration in Indiana.
(15) "Remainderman" means a beneficiary entitled to principal,
including income which has been accumulated and added to the
principal.
(16) "Settlor" means a person who establishes a trust including
the testator of a will under which a trust is created.
(17) "Trust estate" means the trust property and the income
derived from its use.
(18) "Trust for a benevolent public purpose" means a charitable
trust (as defined in subdivision (5)), a split-interest trust (as
defined in Section 4947 of the Internal Revenue Code), a
perpetual care fund or an endowment care fund established under
IC 23-14-48-2, a prepaid funeral plan or funeral trust established
under IC 30-2-9, a funeral trust established under IC 30-2-10, a
trust or an escrow account created from payments of funeral,
burial services, or merchandise in advance of need described in
IC 30-2-13, and any other form of split-interest charitable trust
that has both charitable and noncharitable beneficiaries, including
but not limited to charitable remainder trusts, charitable lead
trusts, and charitable pooled income funds.
(19) "Trust property" means property either placed in trust or
purchased or otherwise acquired by the trustee for the trust
regardless of whether the trust property is titled in the name of the
trustee or the name of the trust.
(20) "Trustee" has the meaning set forth in IC 30-2-14-13.
(21) "Development agreement" means an agreement that:
(A) is between:
(i) the direct or indirect holder of an owner's license
issued under IC 4-33 or an operating agent contract (as
defined in IC 4-33-2-14.6); and
(ii) either a person or a unit of local government; and
(B) sets forth the holder's financial commitments to
support economic development in a unit or a geographic
region.
(22) "Development agreement payment" means any payment
that a direct or indirect holder of:
(A) an owner's license under IC 4-33; or
(B) an operating agent contract (as defined in
IC 4-33-2-14.6);
is required to make under a development agreement.
SOURCE: IC 30-4-5-12; (09)CR112102.16. -->
SECTION 16. IC 30-4-5-12 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JANUARY 1, 2010]: Sec. 12. (Accounting
by Trustees)
(a) Unless the terms of the trust provide otherwise or unless waived
in writing by an adult, competent beneficiary, the trustee shall deliver
a written statement of accounts to each income beneficiary or his
personal representative annually. The statement shall contain at least:
(1) all receipts and disbursements since the last statement; and
(2) all items of trust property held by the trustee on the date of the
statement at their inventory value.
(b) This subsection applies to a charitable trust with assets of at least
five hundred thousand dollars ($500,000). The trustee of a charitable
trust shall annually file a verified written certification with the attorney
general stating that a written statement of accounts has been prepared
showing at least the items listed in section 13(a) of this chapter. The
certification must state that the statement of accounts is available to the
attorney general and any member of the general public upon request.
A charitable trust may not be exempted from this requirement by a
provision in a will, trust agreement, indenture, or other governing
instrument. This subsection does not prevent a trustee from docketing
a charitable trust to finalize a written statement of account or any other
lawful purpose in the manner provided in this article. However, this
subsection does not apply to an organization that is not required to file
a federal information return under Section 6033(a)(2)(A)(i) or Section
6033(a)(2)(A)(ii) of the Internal Revenue Code.
(c) Upon petition by the settlor, a beneficiary or his personal
representative, a person designated by the settlor to have advisory or
supervisory powers over the trust, or any other person having an
interest in the administration or the benefits of the trust, including the
attorney general in the case of a trust for a benevolent public purpose,
the court may direct the trustee to file a verified written statement of
accounts showing the items listed in section 13(a) of this chapter. The
petition may be filed at any time, provided, however, that the court will
not, in the absence of good cause shown, require the trustee to file a
statement more than once a year.
(d) If the court's jurisdiction is of a continuing nature as provided in
IC 30-4-6-2, the trustee shall file a verified written statement of
accounts containing the items shown in section 13(a) of this chapter
with the court biennially, and the court may, on its own motion, require
the trustee to file such a statement at any other time provided there is
good cause for requiring a statement to be filed.
(e) If a charitable trust or trust for a benevolent public purpose
is a recipient of a local development agreement payment, the
trustee shall prepare an annual report containing the following
information before February 1 of each year:
(1) A verified accounting of all accounts associated with local
development agreement payments received in the preceding
calendar year.
(2) An itemized list of all disbursements of local development
agreement payments made to any person exceeding five
thousand dollars ($5,000) in the aggregate during the
preceding calendar year. The itemized list must include:
(A) the legal name of the recipient of a disbursement;
(B) the date of each disbursement;
(C) the amount of each disbursement; and
(D) the purpose of each disbursement.
(f) The trustee of a trust subject to subsection (e) shall annually
file with the attorney general a verified written certification before
March 1 stating that an annual report has been prepared showing
at least the items listed in subsection (e). The certification must
state that the annual report is available to the attorney general
upon request.".
SOURCE: Page 18, line 32; (09)CR112102.18. -->
Page 18, line 32, after "person;" delete "or".
Page 18, line 34, after "information;" insert "
or
(3) a combination of persons described under subdivisions
(1) and (2).".
Page 18, delete lines 35 through 36.
Renumber all SECTIONS consecutively.
(Reference is to HB 1121 as printed February 6, 2009.)
and when so amended that said bill do pass.
Committee Vote: Yeas 8, Nays 1.
____________________________________
Steele
CR112102/DI 106 2009