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IN SB0395
Bill
AI Summary
SB 395 Summary
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Appropriates $1,000,000 annually from the West Baden Springs historic hotel preservation and maintenance fund for each state fiscal year beginning after June 30, 2015 and ending before July 1, 2020, replacing the previous provision that only interest accruing to the fund was appropriated.
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After July 1, 2020, only the interest accruing to the fund is annually appropriated for maintenance purposes.
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Reduces the fund balance threshold for distributing 19% of French Lick casino riverboat wagering tax from $20,000,000 to $15,000,000; when the balance exceeds this threshold, distributions go to the state general fund instead.
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Appropriated funds reimburse claims for expenditures to maintain the qualified historic hotel, surrounding grounds, supporting buildings and structures, and guest facilities, as determined by the hotel owner.
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Department of Natural Resources shall promptly pay submitted claims without project review or approval, paying claims in order received if insufficient funds exist.
Legislative Description
Historic hotel preservation and maintenance fund. Provides that $1,000,000 is appropriated from the West Baden Springs historic hotel preservation and maintenance fund (fund) for the period from May 1, 2015, through June 30, 2016, and in each state fiscal year beginning after June 30, 2016, and ending before July 1, 2020, for purposes of reimbursing claims made for expenditures to maintain a qualified historic hotel, the grounds surrounding the hotel, supporting buildings and structures related to the hotel, and other facilities used by the guests of the hotel. (Under current law, only the interest accruing to the fund is annually
Last Action
House Advisors appointed: Davisson, Thompson and Riecken
4/16/2015