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IN HB1037
Bill
Status
1/6/2015
Primary Sponsor
Alan Morrison
Click for details
AI Summary
- Amends IC 21-34-10-7 to apply qualified energy savings bond requirements to Ivy Tech Community College that previously applied only to other state educational institutions
- Establishes that when outstanding bonds for qualified energy savings projects exceed $15,000,000, operating savings must equal the original bond amount within 10 years
- Removes the existing exemption that excluded Ivy Tech Community College from the 10-year payback requirement for energy savings projects
- Effective July 1, 2015
Legislative Description
Ivy Tech qualified energy savings contracts. Provides that certain requirements relating to issuance of bonds for qualified energy savings contracts by a state educational institution apply to Ivy Tech Community College. (Under current law, if the amount of bonds outstanding for a qualified energy savings project by a state educational institution exceeds $15,000,000, the operating savings to the state educational institution arising from the implementation of that project must at least equal the original amount of bonds issued for that project in not more than ten years. Under current law, this requirement does not apply to bonds issued by Ivy
Last Action
Authored by Representative Morrison
1/6/2015