IN HB1226

Authorizes counties that sell a county asset for more than $50,000,000 to establish a major county asset sale fund as a trust fund for deposit of sale proceeds.

Prohibits the principal of the fund from being diminished and requires the principal to remain in the fund at the end of each fiscal year without reverting to the county general fund.

Allows interest earned on the fund to be used to supplement the county general fund at the discretion of the county fiscal body.

Allows interest earned on the fund to be used for projects proposed by the county executive and approved by a majority vote of the combined membership of the county fiscal body and county executive.

Requires the county treasurer and county board of finance to administer the fund and invest money using the same methods as the Indiana public retirement system, excluding equity securities.