IN SB0541

Authorizes the Indiana Finance Authority to issue bonds up to $2 billion per issue, with a maximum 20-year term, to repay federal unemployment trust fund advances received before July 1, 2013

Requires the General Assembly to pass separate legislation establishing an unemployment obligation assessment on employers before bonds can be issued, with the assessment continuing until all bonds are repaid

Creates an obligation trust fund outside the state treasury to hold assessment revenues, which can only be used to pay bond obligations, administrative expenses, and federal advance principal and interest

Specifies that bonds are not state debt and are payable solely from unemployment obligation assessment revenues, with no pledge of state faith, credit, or taxing power

Provides immunity from personal liability for Department of Workforce Development members and employees, Indiana Finance Authority board members and employees when exercising duties under this chapter