CHAPTER 14. MAJOR MOVES CONSTRUCTION FUND
IC 8-14-14
Chapter 14. Major Moves Construction Fund
IC 8-14-14-1
"Authority"
Sec. 1. As used in this chapter, "authority" refers to the Indianafinance authority established by IC 4-4-11-4.
As added by P.L.47-2006, SEC.5.
IC 8-14-14-2
"Department"
Sec. 2. As used in this chapter, "department" refers to the Indianadepartment of transportation.
As added by P.L.47-2006, SEC.5.
IC 8-14-14-3
"Fund"
Sec. 3. As used in this chapter, "fund" refers to the major movesconstruction fund established by section 5 of this chapter.
As added by P.L.47-2006, SEC.5.
IC 8-14-14-4
"Transportation plan"
Sec. 4. As used in this chapter, "transportation plan" refers to thedepartment's long range comprehensive transportation plandeveloped under IC 8-23-2-5.
As added by P.L.47-2006, SEC.5.
IC 8-14-14-5
Establishment of fund; administration
Sec. 5. (a) The major moves construction fund is established forthe purpose of:
(1) funding projects, other than passenger or freight railroadsystems as described in IC 8-15.7-2-14(a)(4), under IC 8-15.7or IC 8-15-3;
(2) funding other projects in the department's transportationplan; and
(3) funding distributions under sections 6 and 7 of this chapter.
(b) The fund shall be administered by the department.
(c) Notwithstanding IC 5-13, the treasurer of state shall invest themoney in the fund not currently needed to meet the obligations of thefund in the same manner as money is invested by the publicemployees' retirement fund under IC 5-10.3-5. However, thetreasurer of state may not invest the money in the fund in equitysecurities. The treasurer of state may contract with investmentmanagement professionals, investment advisors, and legal counsel toassist in the investment of the fund and may pay the state expensesincurred under those contracts from the fund. Interest that accruesfrom these investments shall be deposited in the fund.
(d) The fund consists of the following: (1) Distributions to the fund from the toll road fund underIC 8-15.5-11.
(2) Distributions to the fund from the next generation trust fundunder IC 8-14-15.
(3) Appropriations to the fund.
(4) Gifts, grants, loans, bond proceeds, and other moneyreceived for deposit in the fund.
(5) Revenues arising from:
(A) a tollway under IC 8-15-3 or IC 8-23-7-22; or
(B) a toll road under IC 8-15-2 or IC 8-23-7-23;
that the department designates as part of, and deposits in, thefund.
(6) Payments, other than payments for passenger or freightrailroad systems as described in IC 8-15.7-2-14(a)(4), made tothe authority or the department from operators under IC 8-15.7.
(7) Interest, premiums, or other earnings on the fund.
(e) The fund is considered a trust fund for purposes ofIC 4-9.1-1-7. Money may not be transferred, assigned, or otherwiseremoved from the fund by the state board of finance, the budgetagency, or any other state agency.
(f) Money in the fund at the end of a state fiscal year does notrevert to the state general fund.
(g) Money in the fund must be appropriated by the generalassembly to be available for expenditure.
As added by P.L.47-2006, SEC.5. Amended by P.L.203-2007, SEC.2.
IC 8-14-14-6
Distributions from the fund
Sec. 6. (a) If the authority enters into a public-private agreementconcerning the Indiana Toll Road under IC 8-15.5, the auditor ofstate shall make the following distributions from the fund for theindicated purposes:
(1) One hundred fifty million dollars ($150,000,000) to thetreasurer of state for deposit in the motor vehicle highwayaccount established by IC 8-14-1. Notwithstanding IC 8-14-1,on or before October 15, 2006, and on or before October 15,2007, the auditor of state shall distribute seventy-five milliondollars ($75,000,000) of the money deposited in the motorvehicle highway account under this subdivision to each of thecounties, cities, and towns eligible to receive a distribution fromthe motor vehicle highway account under IC 8-14-1 and in thesame proportion among the counties, cities, and towns as fundsare distributed from the motor vehicle highway account underIC 8-14-1. The auditor of state:
(A) shall make the distributions required by this subdivisionseparately from distributions required by IC 8-14-1; and
(B) may not combine the distributions required by thissubdivision with distributions required by IC 8-14-1.
Money distributed under this subdivision may be used only forpurposes that money distributed from the motor vehicle
highway account may be expended under IC 8-14-1.
(2) The following amounts to the northwest Indiana regionaldevelopment authority for deposit in the development authorityfund established under IC 36-7.5-4-1:
(A) Forty million dollars ($40,000,000) during the statefiscal year beginning July 1, 2006. During the state fiscalyear beginning July 1, 2006, the regional developmentauthority must pay at least twenty million dollars($20,000,000) of the distribution received under this clauseto an airport authority that is carrying out an airportexpansion project described in IC 36-7.5-2-1(2).
(B) Eighty million dollars ($80,000,000) to be distributed ininstallments of ten million dollars ($10,000,000) during thestate fiscal year beginning July 1, 2007, and each of theseven (7) state fiscal years thereafter.
However, no distributions may be made under clause (B) untilthe development authority's comprehensive strategicdevelopment plan prepared under IC 36-7.5-3-4 has beenreviewed by the budget committee and approved by the directorof the office of management and budget. In addition, nodistributions may be made under clause (B) during the statefiscal years beginning July 1, 2009, July 1, 2011, and July 1,2013, unless the budget committee has reviewed the status ofthe plan and any changes to the plan.
(3) The following amounts to each of the following counties onor before September 15, 2006, for deposit in local major movesconstruction funds under IC 8-14-16:
(A) Forty million dollars ($40,000,000) to each countydescribed in IC 8-14-16-1(1) through IC 8-14-16-1(5).However, if a county described in IC 8-14-16-1(3) becomesa member of the northwest Indiana regional developmentauthority, the distribution to that county is twenty-fivemillion dollars ($25,000,000) instead of forty million dollars($40,000,000).
(B) Twenty-five million dollars ($25,000,000) to eachcounty described in IC 8-14-16-1(6).
(C) Fifteen million dollars ($15,000,000) to each countydescribed in IC 8-14-16-1(7).
(4) One hundred seventy-nine million dollars ($179,000,000)during the state fiscal year beginning July 1, 2006, to the statehighway fund for use by the department for preliminaryengineering, purchase of rights-of-way, or construction ofhighways, roads, and bridges. After review by the budgetcommittee, and subject to the approval of the governor, thebudget agency may augment this distribution from balancesavailable in the fund.
(5) An amount sufficient to provide for the payments owed bythe authority as a result of a written agreement entered intounder IC 8-15.5-7-6 to fund reductions in, or refunds of, userfees imposed on Class 2 vehicles, or to establish or replenish
the reserves therefore, to the administration account of the tollroad fund. The budget agency shall determine the amount of thedistributions required to be made by this subdivision for eachstate fiscal year beginning with the state fiscal year ending June30, 2007, and ending with the state fiscal year ending June 30,2016.
(6) An amount sufficient to make any payments required byIC 5-10.3-6-8.9 as a result of a public-private agreement underIC 8-15.5.
(b) There is annually appropriated from the fund an amountsufficient to make any distributions required by subsection (a).
As added by P.L.47-2006, SEC.5.
IC 8-14-14-7
Additional distributions from the fund
Sec. 7. (a) In addition to any distributions required by section 6 ofthis chapter, money in the fund may be used for any of the followingpurposes:
(1) Except as provided in subsection (b), the payment of anyobligation incurred or amounts owed by the authority, thedepartment, or an operator under IC 8-15-2, IC 8-15-3,IC 8-15.5, or IC 8-15.7 in connection with the execution andperformance of a public-private agreement under IC 8-15.5 orIC 8-15.7, including establishing reserves.
(2) Lease payments to the authority, if money for thosepayments is specifically appropriated by the general assembly.
(3) Distributions to the treasurer of state for deposit in the statehighway fund, for the funding of any project in the department'stransportation plan.
(b) Money in the fund may not be used for the payment of anobligation incurred or amounts owed by the authority, thedepartment, or an operator under IC 8-15.7 in connection with apublic-private agreement under IC 8-15.7 concerning a passenger orfreight railroad system as described in IC 8-15.7-2-14(a)(4).
As added by P.L.47-2006, SEC.5. Amended by P.L.203-2007, SEC.3.
IC 8-14-14-8
Allocation of distributions for certain projects
Sec. 8. (a) The total amount of distributions from the fund forprojects or purposes that benefit a county traversed by the IndianaToll Road may not be less than thirty-four percent (34%) of:
(1) the money that is transferred to the fund from the toll roadfund under IC 8-15.5-11; plus
(2) the amount initially set aside in the administration accountof the toll road fund to establish an escrow account toimplement a written agreement entered into under IC 8-15.5-7-6to fund reductions in, or refunds of, user fees imposed on Class2 vehicles.
(b) The budget agency shall determine the amount of distributionsrequired by this section. In making the determination, the budget
agency shall include the following amounts:
(1) Amounts distributed to counties traversed by the IndianaToll Road under section 6(a)(1) of this chapter.
(2) Money distributed to the northwest Indiana regionaldevelopment authority under this chapter.
(3) Money distributed under section 6(a)(3) of this chapter.
(4) Projects carried out by the department in counties traversedby the Indiana Toll Road and funded with money distributedunder section 6(a)(4)of this chapter.
(5) The amount initially set aside in the administration accountof the toll road fund to establish an escrow account toimplement a written agreement entered into under IC 8-15.5-7-6to fund reductions in, or refunds of, user fees imposed on Class2 vehicles.
(6) Money transferred to the administration account of the tollroad fund under section 6(a)(5) of this chapter.
(7) Payments to the public employees' retirement fund requiredby section 6(a)(6) of this chapter.
As added by P.L.47-2006, SEC.5.