Establishes the statewide sports and tourism bid fund (fund) to provide funding for the purpose of organizing and holding sports and tourism events in Indiana. Provides that the Indiana destination development corporation (IDDC) shall administer the fund. Requires the IDDC to distribute to the Indiana Sports Corporation a grant amount equal to the amount appropriated by the general assembly to the fund. Provides that the Indiana Sports Corporation shall manage the funds in accordance with the general laws of the state relating to the handling of public funds. Requires that the Indiana Sports Corporation ensure that not less than 30% of the money received by the Indiana Sports Corporation each biennium is used for events that are conducted outside of Marion County. Authorizes the Indiana Sports Corporation to award grants to other eligible entities for the purpose of organizing and holding an event in Indiana. Requires the Indiana Sports Corporation to annually report to the budget committee on the use of the money received from the fund.
Sponsored bills
Establishes the insuring foster youth trust fund (fund). Provides that the department of child services shall administer the fund. Provides that the money in the fund may be used to provide payments to foster youth to help defray the cost of: (1) automobile insurance coverage for foster youth; and (2) not more than 44 of the 50 hours of supervised driving practice for foster youth. Provides that a state or local government agency, a foster parent, or an entity providing services shall not be liable for any damages resulting from a foster youth's operation of an automobile owned and insured by the foster youth. Makes conforming changes. Makes an appropriation.
Adds provisions to the title in the Indiana Code concerning financial institutions to provide for the replacement, by operation of law, of the United States Dollar LIBOR as the benchmark index for any contract, security, or instrument, with a recommended benchmark replacement that is based on the secured overnight financing rate (SOFR). Sets forth certain events that serve to trigger the replacement of LIBOR with the recommended benchmark replacement. Specifies that such replacement by operation of law applies with respect to a contract, security, or instrument that either: (1) contains no fallback provisions setting forth a methodology or procedure for determining a benchmark replacement; or (2) contains fallback provisions that result in a benchmark replacement that: (A) is not a recommended benchmark replacement; and (B) is based in any way on any LIBOR value. Provides that if a recommended benchmark replacement becomes the benchmark replacement for any contract, security, or instrument, any applicable benchmark replacement conforming changes become an integral part of the contract, security, or instrument by operation of law. Provides that the bill's provisions do not alter or impair contracts, securities, or instruments that contain certain provisions. Provides that the selection or use of a recommended benchmark replacement as a benchmark replacement for a contract, security, or instrument: (1) constitutes a commercially reasonable replacement for and a commercially substantial equivalent to LIBOR; and (2) does not: (A) impair or affect certain rights and performance obligations under; (B) constitute a breach of; or (C) void or nullify; the contract, security, or instrument. Provides that a person is not liable for damages, and is not subject to any claim for equitable relief, in connection with: (1) the selection or use of a recommended benchmark replacement; or (2) the determination, implementation, or performance of benchmark replacement conforming changes; with respect to any contract, security, or instrument. Makes a cross reference to this immunity provision in the chapter of the Indiana Code that lists statutes outside of Title 34 of the Indiana Code that confer civil immunity.
Provides that the true tax value of commercial real property commercial property with a structure, or a portion thereof, that: (1) is at least 100,000 square feet in area; (2) is used for retail purposes; and (3) is occupied by a single retailer; shall be determined by application of the cost approach. Provides that the application of the cost approach requirement is not applicable if the property was: (1) vacated by the original occupant for which the property was constructed; (2) constructed more than five years prior to the assessment date; or (3) substantially and adversely impacted by a change in a roadway or traffic pattern. Provides that estimates of depreciation and obsolescence shall not be based on data derived from the sales comparison or income capitalization approaches. Requires the department of local government finance (department) to establish a standard construction cost per square foot for the purpose of applying the cost approach. Requires the department to update the standard construction cost per square foot annually. Provides that when requesting a review, a taxpayer may present an appraisal based on the cost approach as evidence that the actual construction cost was lower than the department's determined standard construction cost per square foot that was used to assess the property. Provides that the parties to any appeal may enter into a written agreement to stipulate to the true tax value of the property. Provides that the fiscal officer of the county may establish a separate account for the tax receipts that are attributable to the property tax assessment that is the subject of review.
Requires that the Indiana family friendly school designation program of the department of education (department) establish a procedure under which the department must conduct an assessment for the purpose of evaluating and improving parent involvement in the school if the parents of at least 10% of the students currently included in the average daily membership (ADM) at a particular school request an assessment. Requires that the department determine the manner in which requests may be submitted.
Increases the maximum amount of the annual credit against adjusted gross income to which a taxpayer is entitled for a contribution to a college choice 529 education savings plan.
Allows a teacher preparation program to report the program's admission practices, in accordance with the Association for Advancing Quality in Educator Preparation (AAQEP) standards, for teacher preparation programs accredited by the AAQEP. Requires the department of education (department) to approve at least two accreditors that: (1) accredit teacher preparation programs; and (2) are recognized by the Council for Higher Education Accreditation; to accredit teacher preparation programs for use in Indiana. Requires the department to annually report to the legislative council the percentage of teachers who complete a particular teacher preparation program who are teaching in Indiana: (1) five years; and (2) ten years; after completion of the particular teacher preparation program. Removes a requirement that each charter school and school corporation annually provide to the department: (1) the name of the teacher preparation program that recommended the initial license for each teacher employed by the school; and (2) the annual retention rate for teachers employed by the school.
A SENATE RESOLUTION honoring Carl Erskine for his contributions to Indiana and the nation.
Requires the department of homeland security, the state department of health, the integrated public safety commission, and the statewide 911 board to make recommendations before November 1, 2022, to the general assembly regarding: (1) improving emergency medical services response through increased interoperability of the 911 system; and (2) the effectiveness of regionalized trauma systems and the systems' impact on patient care.
Amends the statute authorizing a bank or trust company to make investments in community based economic development to also authorize investments in: (1) any community and economic development entity, community development project, or other public welfare investment; and (2) tax equity finance transactions; subject to the investments being made in compliance with applicable federal regulations and any regulation, rule, policy, or guidance adopted by the department of financial institutions. Authorizes savings banks and savings associations to engage in tax equity finance transactions.