CHAPTER 14. DONATIONS

IC 36-1-14
    Chapter 14. Donations

IC 36-1-14-1
Requirements for donations to foundations; exception
    Sec. 1. (a) This section does not apply to donations of gamingrevenue to a public school endowment corporation underIC 20-47-1-3.
    (b) As used in this section, "gaming revenue" means either of thefollowing:
        (1) Tax revenue received by a unit under IC 4-33-12-6,IC 4-33-13, or an agreement to share a city's or county's part ofthe tax revenue.
        (2) Revenue received by a unit under IC 4-35-8.5 or anagreement to share revenue received by another unit underIC 4-35-8.5.
    (c) Notwithstanding IC 8-1.5-2-6(d), a unit may donate theproceeds from the sale of a utility or facility or from a grant, a gift,a donation, an endowment, a bequest, a trust, or gaming revenue toa foundation under the following conditions:
        (1) The foundation is a charitable nonprofit communityfoundation.
        (2) The foundation retains all rights to the donation, includinginvestment powers.
        (3) The foundation agrees to do the following:
            (A) Hold the donation as a permanent endowment.
            (B) Distribute the income from the donation only to the unitas directed by resolution of the fiscal body of the unit.
            (C) Return the donation to the general fund of the unit if thefoundation:
                (i) loses the foundation's status as a public charitableorganization;
                (ii) is liquidated; or
                (iii) violates any condition of the endowment set by thefiscal body of the unit.
As added by P.L.313-1995, SEC.1. Amended by P.L.17-2000, SEC.2;P.L.1-2005, SEC.236; P.L.231-2005, SEC.51; P.L.1-2006, SEC.558;P.L.2-2006, SEC.190; P.L.142-2009, SEC.32.

IC 36-1-14-2
Income from community foundation
    Sec. 2. A unit may use income received under this chapter froma community foundation only for purposes of the unit.
As added by P.L.313-1995, SEC.1.