IN HB1473 | 2019 | Regular Session

Status

Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on May 5 2019 - 100% progression
Action: 2019-05-05 - Public Law 259
Text: Latest bill text (Enrolled) [PDF]

Summary

Indiana bond bank. Allows the Indiana bond bank to require certain entities to establish separate reserve accounts as additional security in connection with the issuance of bonds or notes. Allows and establishes terms and procedures for certain entities to assign or otherwise transfer a future stream of revenue to the Indiana bond bank or certain other entities to obtain funding. Establishes conditions under which the state board of finance may sell, transfer, or liquidate agreements that evidence the state's right to make deductions from state tuition support to pay advances from the common school fund under the school corporation and charter school safety advance program. Provides that the state board of education must report to the budget committee each year on any defaults on the repayment of advances from the common school fund by charter schools that have closed or otherwise ceased operations. Requires the department of local government finance to notify the Lake County auditor of the estimated and certified tax revenue that will be withheld from revenue allocated for economic development purposes for certain civil taxing units and distributed to the secretary-treasurer of the northwest Indiana regional development authority (authority). Requires the auditor of state to withhold local income tax revenue from the revenue allocated for economic development purposes for certain civil taxing units in Lake County and distribute it to the secretary-treasurer of the authority. Provides for distribution of certain amounts collected by the authority if a full funding grant agreement is not entered into for the West Lake corridor project.

Tracking Information

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Title

Indiana bond bank. Allows the Indiana bond bank to require certain entities to establish separate reserve accounts as additional security in connection with the issuance of bonds or notes. Allows and establishes terms and procedures for certain entities to assign or otherwise transfer a future stream of revenue to the Indiana bond bank or certain other entities to obtain funding. Establishes conditions under which the state board of finance may sell, transfer, or liquidate agreements that evidence the state's right to make deductions from state tuition support to pay advances from the common school fund under the school corporation and charter school safety advance program. Provides that the state board of education must report to the budget committee each year on any defaults on the repayment of advances from the common school fund by charter schools that have closed or otherwise ceased operations. Requires the department of local government finance to notify the Lake County auditor of the estimated and certified tax revenue that will be withheld from revenue allocated for economic development purposes for certain civil taxing units and distributed to the secretary-treasurer of the northwest Indiana regional development authority (authority). Requires the auditor of state to withhold local income tax revenue from the revenue allocated for economic development purposes for certain civil taxing units in Lake County and distribute it to the secretary-treasurer of the authority. Provides for distribution of certain amounts collected by the authority if a full funding grant agreement is not entered into for the West Lake corridor project.

Sponsors


Roll Calls

2019-04-16 - House - House - House concurred in Senate amendments (Y: 92 N: 0 NV: 1 Abs: 7) [PASS]
2019-04-08 - Senate - Senate - Third reading (Y: 48 N: 0 NV: 1 Abs: 1) [PASS]
2019-03-26 - Senate - Senate - Committee Vote (Y: 11 N: 0 NV: 0 Abs: 0) [PASS]
2019-02-11 - House - Third reading (Y: 90 N: 0 NV: 2 Abs: 8) [PASS]
2019-01-31 - House - House - Committee Vote (Y: 23 N: 0 NV: 0 Abs: 1) [PASS]

History

DateChamberAction
2019-05-05HousePublic Law 259
2019-05-05HouseSigned by the Governor
2019-04-30SenateSigned by the President of the Senate
2019-04-18SenateSigned by the President Pro Tempore
2019-04-18HouseSigned by the Speaker
2019-04-16HouseHouse concurred in Senate amendments; Roll Call 539: yeas 92, nays 0
2019-04-16HouseMotion to concur filed
2019-04-09SenateReturned to the House with amendments
2019-04-08SenateThird reading: passed; Roll Call 406: yeas 48, nays 0
2019-04-04SenateAmendment #4 (Niemeyer) prevailed; voice vote
2019-04-04SenateAmendment #3 (Holdman) prevailed; voice vote
2019-04-04SenateSecond reading: amended, ordered engrossed
2019-04-02SenateSenator Randolph added as cosponsor
2019-03-26SenateCommittee report: amend do pass, adopted
2019-03-04SenateFirst reading: referred to Committee on Tax and Fiscal Policy
2019-02-12HouseReferred to the Senate
2019-02-11HouseSenate sponsors: Senators Head, Holdman and Taylor G
2019-02-11HouseThird reading: passed; Roll Call 134: yeas 90, nays 0
2019-02-07HouseSecond reading: ordered engrossed
2019-02-04HouseCommittee report: amend do pass, adopted
2019-01-31HouseRepresentatives Karickhoff, DeLaney, Pryor added as coauthors
2019-01-15HouseFirst reading: referred to Committee on Ways and Means
2019-01-15HouseAuthored by Representative Steuerwald

Indiana State Sources

TypeSource
Summaryhttp://iga.in.gov/legislative/2019/bills/house/1473/
Texthttp://iga.in.gov/static-documents/9/7/f/7/97f7e3a7/HB1473.01.INTR.pdf
Texthttp://iga.in.gov/static-documents/e/e/2/4/ee249ad5/HB1473.01.INTR.pdf
Texthttp://iga.in.gov/static-documents/f/a/8/2/fa82e773/HB1473.02.COMH.pdf
Texthttp://iga.in.gov/static-documents/c/c/1/3/cc13b54b/HB1473.02.COMH.pdf
Texthttp://iga.in.gov/static-documents/0/2/0/8/0208e1a1/HB1473.03.COMS.pdf
Texthttp://iga.in.gov/static-documents/3/2/7/4/32743070/HB1473.03.COMS.pdf
Texthttp://iga.in.gov/static-documents/e/5/f/c/e5fc4259/HB1473.04.ENGS.pdf
Texthttp://iga.in.gov/static-documents/f/a/a/8/faa8bf95/HB1473.04.ENGS.pdf
Texthttp://iga.in.gov/static-documents/b/b/e/5/bbe5a44a/HB1473.05.ENRS.pdf
Roll Callhttp://iga.in.gov/static-documents/5/3/2/1/5321ee30/HB1473.01.INTR.00.pdf
Roll Callhttp://iga.in.gov/static-documents/f/e/c/8/fec863ae/HB1473.134.pdf
Roll Callhttp://iga.in.gov/static-documents/e/5/9/d/e59d40e2/HB1473.02.COMH.01.pdf
Roll Callhttp://iga.in.gov/static-documents/d/e/3/7/de3785a0/HB1473.406.pdf
Roll Callhttp://iga.in.gov/static-documents/8/6/6/5/86659124/HB1473.539.pdf

Bill Comments

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