IC 36-7.5-6-5 — Deposits in the fund; reimbursement

Bills citing this section

• HB 12102026Signed into law

  Department of local government finance.

• HB 13472026In committee

  Lake County Convention Center.

Section text

Sec. 5. (a) In each state fiscal year beginning after June 30, 2023, the city of Gary shall transfer up to three million dollars ($3,000,000) to the development authority for deposit in the fund. (b) In each state fiscal year beginning after June 30, 2023, and ending before July 1, 2025, the development authority shall deposit three million dollars ($3,000,000) in the fund from reserve amounts held by the development authority. (c) After June 30, 2025, but not later than July 1, 2027, the development authority shall be reimbursed for all amounts deposited under subsection (b) using money in the fund. Budget committee review is not required for reimbursement under this subsection.

As added by P.L.195-2023, SEC.6. Amended by P.L.230-2025, SEC.146.

Source: official publisher (2026 edition)