Sec. 14.7. (a) As used in this section, “development authority” refers to the development authority established under IC 36-7.5-2-1.

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Terms Used In Indiana Code 8-15-2-14.7

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Authority: refers to the Indiana finance authority established by Indiana Code 8-15-2-4
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
     (b) An appropriation made by the general assembly to the development authority may be distributed to the development authority only if all transfers required from cities and counties to the development authority under IC 36-7.5-4-2 have been made.

     (c) An appropriation made by the general assembly to the development authority may be distributed to the development authority only after:

(1) the budget committee has reviewed; and

(2) the director of the office of management and budget has approved;

the comprehensive strategic development plan submitted in accordance with IC 36-7.5-3-4.

     (d) If the Indiana Toll Road is sold or leased before January 1, 2008 (other than a lease to the department), and the sale or lease agreement does not require the purchaser or lessee to continue making the distributions required by subsection (b), the treasurer of state shall pay the amount, if any, appropriated by the general assembly to the development authority revenue fund established under IC 36-7.5-4-1.

     (e) Amounts distributed or paid to the development authority under this section may be used for any purpose of the development authorized under IC 36-7.5.

As added by P.L.214-2005, SEC.53. Amended by P.L.47-2006, SEC.13; P.L.189-2018, SEC.83.

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