SB 272 Summary

• Requires Gary's airport authority to follow IC 5-23 procurement procedures (BOT agreements) when selecting operators for leases, management agreements, or other contracts for up to 99 years, replacing the previous exemption from these procedures.

• Redirects payments received from airport leases, management agreements, or contracts to the Northwest Indiana Regional Development Authority (instead of the City of Gary), with funds deposited into the development authority fund under IC 36-7.5-4-1.

• Removes legislative findings of fact that previously detailed Gary's unique economic development challenges and opportunities related to the airport and Lake Michigan shoreline.

• Declares an emergency effective upon passage.