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IN HJR0002
Joint Resolution
Status
Prefiled
N/A
Primary Sponsor
Ryan Dvorak
Click for details
AI Summary
- Establishes the Indiana Bicentennial Permanent Fund in the state treasury as a constitutional amendment to Article 10.
- Fund receives 50% or a greater percentage of any state general fund budget surplus at the end of each fiscal year, plus appropriations and other designated sources.
- All investment income from the fund is deposited into the state general fund.
- Principal of the fund may only be used for income-producing investments specifically designated by law.
- Amendment requires approval by two consecutive general assemblies and ratification by a majority of state voters to become effective.
Legislative Description
Establishes the Indiana bicentennial permanent fund (fund) in the state treasury. Provides that the fund consists of: (1) 50% or such other greater percentage established by law of any general fund budget surplus realized during a state fiscal year; (2) appropriations made to the fund; and (3) other sources designated by law. Provides that income from investment of money in the fund shall be deposited in the state general fund. Provides that the principal of the fund may be used only for those investments specifically designated by law as eligible for investment from the fund.
Full Bill Text
No bill text available