IN SB0289

Amends IC 5-13 to allow county boards of finance to designate financial institutions outside the county or contiguous Indiana counties as public fund depositories when two or fewer local institutions are willing to accept public funds

Permits counties to treat limited local financial institutions as if they were not located within the county, enabling designation of depositories elsewhere in Indiana

Maintains existing rules for non-county political subdivisions, which can already seek outside depositories when two or fewer institutions in their area will accept public funds

Effective July 1, 2026

Passed Senate Committee on Insurance and Financial Institutions with a 7-1 vote on January 22, 2026