SB 251 Summary

• Effective July 1, 2015, applies only to Hamilton County political subdivisions (excluding school corporations) making preliminary determinations to issue bonds or enter into leases after June 30, 2015.

• Excludes from "controlled project" cost calculations any expenditures paid from donations, gifts, or accumulated funds that have been segregated in a capital improvement plan, capital development plan, or similar plan before the preliminary determination.

• Requires political subdivisions to include in their resolution or ordinance a determination of the portion of total project cost paid from sources excluded under the new rules and must make this determination at a public hearing with proper notice.

• Adds requirements for petition and remonstrance processes, including that persons may file petitions objecting to artificial division of capital projects to avoid petition/referendum requirements, with the Department of Local Government Finance having 30 days to determine if projects were artificially divided.

• Modifies public question procedures for controlled projects, including requirements for ballot language review by the Department of Local Government Finance and provisions for political subdivisions to withdraw projects from public questions under specified conditions.