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IN SB0262
Bill
Status
2/8/2017
Primary Sponsor
Karen Tallian
Click for details
AI Summary
SB 262 Summary
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Indiana Finance Authority may issue bonds or notes after April 30, 2017, for construction of transportation projects, with total issuance not to exceed $500,000,000.
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Bonds or notes must mature no more than 20 years after issuance and are referred to as "build Indiana roads bonds" and "build Indiana roads notes."
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All or part of bonds or notes must first be offered to the Indiana public retirement system pension fund at a negotiated sale before any public sale.
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Indiana public retirement system board of trustees is authorized to invest in the transportation bonds or notes.
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Amends Indiana Code sections 5-10.3, 5-10.4, and 8-14.5 to facilitate pension fund investment in transportation project bonds and takes effect upon passage.
Legislative Description
Bonding for transportation projects. Provides that the Indiana finance authority (authority) may issue bonds or notes after April 30, 2017, for the construction of transportation projects. Provides that the total amount of all such bonds and notes issued by the authority after April 30, 2017, may not exceed $500,000,000. Specifies the maximum maturity of the bonds or notes. Provides that: (1) all or a part of the bonds or notes sold by the authority must first be offered to a pension fund administered by the board of trustees of the Indiana public retirement system, and the authority may sell the
Last Action
Representative Huston added as cosponsor
3/6/2017