CHAPTER 17. ALTERNATIVE TRANSPORTATION CONSTRUCTION FUND

IC 8-14-17
    Chapter 17. Alternative Transportation Construction Fund

IC 8-14-17-1
"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.203-2007, SEC.4.

IC 8-14-17-2
"Department"
    Sec. 2. As used in this chapter, "department" refers to the Indianadepartment of transportation.
As added by P.L.203-2007, SEC.4.

IC 8-14-17-3
"Fund"
    Sec. 3. As used in this chapter, "fund" refers to the alternativetransportation construction fund established by section 4 of thischapter.
As added by P.L.203-2007, SEC.4.

IC 8-14-17-4
Fund established; administration and sources
    Sec. 4. (a) The alternative transportation construction fund isestablished for the purpose of:
        (1) funding projects under IC 8-15.7 for passenger and freightrailroad systems as described in IC 8-15.7-2-14(a)(4); and
        (2) funding distributions under section 5 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 advisers, 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) Appropriations to the fund.
        (2) Gifts, grants, loans, bond proceeds, and other moneyreceived for deposit in the fund.
        (3) Payments made to the authority or the department fromoperators under IC 8-15.7 concerning passenger and freightrailroad systems as described in IC 8-15.7-2-14(a)(4).
        (4) 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 otherwise

removed 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.203-2007, SEC.4.

IC 8-14-17-5
Uses of fund
    Sec. 5. Money in the fund may be used for any of the followingpurposes:
        (1) The payment of any obligation incurred or amounts owed bythe authority, the department, or an operator under IC 8-15.7 inconnection with the execution and performance of apublic-private agreement under IC 8-15.7 for a passenger orfreight railroad system as described in IC 8-15.7-2-14(a)(4).
        (2) Lease payments to the authority, if money for thosepayments is specifically appropriated by the general assembly.
As added by P.L.203-2007, SEC.4.