Bill Text: IN HB1495 | 2013 | Regular Session | Introduced
Bill Title: Historic hotel preservation and maintenance fund.
Spectrum: Partisan Bill (Republican 3-0)
Status: (Introduced - Dead) 2013-01-22 - First reading: referred to Committee on Ways and Means [HB1495 Detail]
Download: Indiana-2013-HB1495-Introduced.html
Citations Affected: IC 36-7-11.5-11.
Synopsis: Historic hotel preservation and maintenance fund. Requires
that money in the West Baden Springs historic hotel preservation and
maintenance fund must be used for only certain purposes. (Current law
requires that only the interest accruing in the fund must be used for
those purposes.) Provides that, for the state fiscal year beginning July
1, 2013, and ending June 30, 2014, the total money withdrawn from the
fund to pay claims may not exceed 5% of the amount of money in the
fund at the beginning of that fiscal year. Provides that for any
subsequent fiscal year the department may not pay a claim in that fiscal
year until the fund has a balance of at least $20,000,000 and the total
money withdrawn from the fund to pay claims in that fiscal year may
not exceed 5% of the amount of money in the fund at the time the
balance is at least $20,000,000.
Effective: July 1, 2013.
January 22, 2013, read first time and referred to Committee on Ways and Means.
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A BILL FOR AN ACT to amend the Indiana Code concerning local
government.
(b) The West Baden Springs historic hotel preservation and maintenance fund is established. The fund consists of the following:
(1) Amounts deposited in the fund under IC 4-33-6.5-6, IC 4-33-12-6(c), and IC 4-33-13-5(b).
(2) Grants and gifts that the department of natural resources receives for the fund under terms, obligations, and liabilities that the department considers appropriate.
(3) The one million dollar ($1,000,000) initial fee paid to the gaming commission under IC 4-33-6.5.
(4) Any amount transferred to the fund upon the repeal of IC 36-7-11.5-8 (the community trust fund).
The fund shall be administered by the department of natural resources.
The expenses of administering the fund shall be paid from money in
the fund.
(c) The treasurer of state shall invest the money in the fund that is
not currently needed to meet the obligations of the fund in the same
manner as other public funds may be invested. The treasurer of state
shall deposit in the fund the interest that accrues from the investment
of the fund.
(d) Money in the fund at the end of a state fiscal year does not revert
to the state general fund.
(e) The interest accruing to the money in the fund is annually
appropriated to the department of natural resources only for the
following purposes:
(1) To reimburse claims made for expenditures to maintain a
qualified historic hotel, as determined by the owner of the hotel
riverboat resort.
(2) To reimburse claims made for expenditures to maintain:
(A) the grounds surrounding a qualified historic hotel;
(B) supporting buildings and structures related to a qualified
historic hotel; and
(C) other facilities used by the guests of the qualified historic
hotel;
as determined by the owner of the hotel riverboat resort.
(f) Subject to subsections (g) and (h), the department of natural
resources shall promptly pay each claim for a purpose described in
subsection (e), to the extent of the balance of interest available in the
fund, without review or approval of the project or claim under IC 14-21
or IC 36-7-11. IC 14-21-1-18 does not apply to projects or claims paid
for maintenance under this section. If insufficient money is available
to fully pay all of the submitted claims, the department of natural
resources shall pay the claims in the order in which they are received
until each claim is fully paid.
(g) For the state fiscal year beginning July 1, 2013, and ending
June 30, 2014, the total money withdrawn from the fund to pay
claims under subsection (f) may not exceed five percent (5%) of the
amount of money in the fund on July 1, 2013.
(h) For each subsequent state fiscal year, the following apply:
(1) The department of natural resources may not pay claims
under subsection (f) in any subsequent fiscal year until the
fund has a balance of at least twenty million dollars
($20,000,000) in that fiscal year.
(2) If the fund has a balance of at least twenty million dollars
($20,000,000) in a fiscal year, the total money withdrawn from
the fund to pay claims in that fiscal year may not exceed five
percent (5%) of the amount of money in the fund at the time
the balance is at least twenty million dollars ($20,000,000.)
(g) (i) Notwithstanding IC 4-9.1-1-7, IC 4-12-1-12, IC 4-13-2-18, or
any other law, interest accruing to the fund may not be withheld,
transferred, assigned, or reassigned to a purpose other than the
reimbursement of claims under subsection (f).
