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IN SB0219
Bill
Status
Introduced
1/4/2012
Primary Sponsor
Timothy Skinner
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AI Summary
- Establishes the highway revolving loan fund to provide low-interest loans to counties and municipalities for construction of bridges, culverts, highways, roads, and streets
- Indiana Department of Transportation will administer the fund, which is sustained by appropriations, grants, gifts, loan repayments, interest, and investment earnings
- Loan terms may not exceed 25 years and interest rates are capped at 2%
- Appropriates $1.5 million from the state general fund for the fiscal year beginning July 1, 2012
- Money in the fund does not revert to the state general fund at the end of a fiscal year
Legislative Description
Highway revolving loan fund.
Last Action
First reading: referred to Committee on Appropriations
1/4/2012
Full Bill Text
No bill text available