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 Indiana
finance 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 Indiana
department 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 alternative
transportation construction fund established by section 4 of this
chapter. 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 is
established for the purpose of:
(1) funding projects under IC 8-15.7 for passenger and freight
railroad 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 the
money in the fund not currently needed to meet the obligations of the
fund in the same manner as money is invested by the public
employees' retirement fund under IC 5-10.3-5. However, the
treasurer of state may not invest the money in the fund in equity
securities. The treasurer of state may contract with investment
management professionals, investment advisers, and legal counsel to
assist in the investment of the fund and may pay the state expenses
incurred under those contracts from the fund. Interest that accrues
from 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 money
received for deposit in the fund.
(3) Payments made to the authority or the department from
operators under IC 8-15.7 concerning passenger and freight
railroad 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 of
IC 4-9.1-1-7. Money may not be transferred, assigned, or otherwise
removed from the fund by the state board of finance, the budget
agency, or any other state agency.
(f) Money in the fund at the end of a state fiscal year does not
revert to the state general fund.
(g) Money in the fund must be appropriated by the general
assembly 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 following
purposes:
(1) The payment of any obligation incurred or amounts owed by
the authority, the department, or an operator under IC 8-15.7 in
connection with the execution and performance of a
public-private agreement under IC 8-15.7 for a passenger or
freight railroad system as described in IC 8-15.7-2-14(a)(4).
(2) Lease payments to the authority, if money for those
payments is specifically appropriated by the general assembly. As added by P.L.203-2007, SEC.4.
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 Indiana
finance 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 Indiana
department 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 alternative
transportation construction fund established by section 4 of this
chapter. 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 is
established for the purpose of:
(1) funding projects under IC 8-15.7 for passenger and freight
railroad 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 the
money in the fund not currently needed to meet the obligations of the
fund in the same manner as money is invested by the public
employees' retirement fund under IC 5-10.3-5. However, the
treasurer of state may not invest the money in the fund in equity
securities. The treasurer of state may contract with investment
management professionals, investment advisers, and legal counsel to
assist in the investment of the fund and may pay the state expenses
incurred under those contracts from the fund. Interest that accrues
from 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 money
received for deposit in the fund.
(3) Payments made to the authority or the department from
operators under IC 8-15.7 concerning passenger and freight
railroad 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 of
IC 4-9.1-1-7. Money may not be transferred, assigned, or otherwise
removed from the fund by the state board of finance, the budget
agency, or any other state agency.
(f) Money in the fund at the end of a state fiscal year does not
revert to the state general fund.
(g) Money in the fund must be appropriated by the general
assembly 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 following
purposes:
(1) The payment of any obligation incurred or amounts owed by
the authority, the department, or an operator under IC 8-15.7 in
connection with the execution and performance of a
public-private agreement under IC 8-15.7 for a passenger or
freight railroad system as described in IC 8-15.7-2-14(a)(4).
(2) Lease payments to the authority, if money for those
payments is specifically appropriated by the general assembly. As added by P.L.203-2007, SEC.4.
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 Indiana
finance 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 Indiana
department 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 alternative
transportation construction fund established by section 4 of this
chapter. 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 is
established for the purpose of:
(1) funding projects under IC 8-15.7 for passenger and freight
railroad 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 the
money in the fund not currently needed to meet the obligations of the
fund in the same manner as money is invested by the public
employees' retirement fund under IC 5-10.3-5. However, the
treasurer of state may not invest the money in the fund in equity
securities. The treasurer of state may contract with investment
management professionals, investment advisers, and legal counsel to
assist in the investment of the fund and may pay the state expenses
incurred under those contracts from the fund. Interest that accrues
from 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 money
received for deposit in the fund.
(3) Payments made to the authority or the department from
operators under IC 8-15.7 concerning passenger and freight
railroad 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 of
IC 4-9.1-1-7. Money may not be transferred, assigned, or otherwise
removed from the fund by the state board of finance, the budget
agency, or any other state agency.
(f) Money in the fund at the end of a state fiscal year does not
revert to the state general fund.
(g) Money in the fund must be appropriated by the general
assembly 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 following
purposes:
(1) The payment of any obligation incurred or amounts owed by
the authority, the department, or an operator under IC 8-15.7 in
connection with the execution and performance of a
public-private agreement under IC 8-15.7 for a passenger or
freight railroad system as described in IC 8-15.7-2-14(a)(4).
(2) Lease payments to the authority, if money for those
payments is specifically appropriated by the general assembly. As added by P.L.203-2007, SEC.4.
