Indiana Code 8-14-15.2-12. Diminishment of trust principal; deposit of trust income; transfer of trust income to major moves construction fund

Sec. 12. (a) Except as otherwise required by section 10 of this chapter, the principal of the trust may not be diminished during the term of the trust.

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Terms Used In Indiana Code 8-14-15.2-12

principal of the trust: means an amount equal to two hundred fifty million dollars ($250,000,000). See Indiana Code 8-14-15.2-2
trust: refers to the next generation trust fund established under this chapter. See Indiana Code 8-14-15.2-3

(b) The income that accrues from investment of the trust shall be deposited in the trust.

(c) On March 15, 2021, and March 15 every five (5) years thereafter, the treasurer of state shall transfer all interest accruing to the trust to the major moves construction fund.

As added by P.L.189-2018, SEC.79.

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