IN SB0150

Establishes the highway revolving loan fund administered by the Indiana Department of Transportation to provide low-interest loans to counties and municipalities for construction projects including bridges, culverts, highways, roads, and streets.

Allows units to apply for loans with a maximum duration of 25 years and an interest rate not to exceed 2 percent, with the department determining eligibility based on project need, local economic impact, and effects on state highway systems.

Fund consists of legislative appropriations, grants and donations, loan repayments including interest and premiums, and investment earnings, with fund money not reverting to the state general fund at fiscal year end.

Appropriates $1.5 million from the state general fund to the highway revolving loan fund for the fiscal year July 1, 2013 through June 30, 2014.

Effective July 1, 2013.