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IN HB1440
Bill
Status
1/17/2017
Primary Sponsor
Gregory Porter
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AI Summary
HB 1440 Summary
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Creates the water resource development and flood prevention grant fund administered by the Indiana finance authority to provide grants to towns, cities, and counties for flood control public works projects.
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Requires transfer of $2,500,000 quarterly from Hoosier Lottery surplus revenue to the fund, with any shortfalls made up from the postwar construction fund.
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Designates all funds deposited between July 1, 2018 and December 31, 2024 (or project completion, whichever is later) to the town of Rocky Ripple for a flood control project protecting against White River and Indiana Central Canal flooding.
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Requires Rocky Ripple flood control project approval from the Indiana finance authority, U.S. Army Corps of Engineers, Indianapolis mayor, and Rocky Ripple town council president, plus ordinance approval from both municipalities.
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Establishes grant application requirements and priority rating system based on relative community need, with natural resources commission to adopt implementing rules.
Legislative Description
Flood control public works projects. Creates the water resource development and flood prevention grant fund (fund). Requires the transfer of $10,000,000 of surplus revenue from the Hoosier Lottery per year, in quarterly installments, to the fund. Provides that if the surplus revenue from the Hoosier Lottery is insufficient to make any quarterly installment, the insufficiency shall be made up through a transfer from the postwar construction fund. Provides that the fund shall be administered by the Indiana finance authority (authority) and used to provide grants to towns, cities, and counties for flood control public works projects. Requires that all money
Last Action
Representative DeLaney added as coauthor
2/6/2017