Indiana Code 5-1.2-4.5-2. Applicability; extension or amendment; threshold amounts; review by the budget agency
(1) a public-private agreement to which the authority is a party under IC 8-15.5 and that is originally entered into after May 1, 2019; and
Terms Used In Indiana Code 5-1.2-4.5-2
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(b) If:
(1) an extension or an amendment to a public-private agreement described in subsection (a)(1) would increase the amount to be:
(A) paid by the authority to the operator, another private entity, or a governmental entity by at least one hundred million dollars ($100,000,000); or
(B) received by the operator or a party related to the operator by at least one hundred million dollars ($100,000,000); or
(2) an agreement described in subsection (a)(2) would increase revenue by at least one hundred million dollars ($100,000,000) as the result of the sale or lease of a state asset, or a grant of a license to operate a state asset;
the authority or the state shall submit the proposed extension or amendment to the public-private agreement described in subdivision (1) or the proposed agreement described in subdivision (2) to the budget committee established by IC 4-12-1-3 for its review.
(c) The budget committee may request that the authority, the department of transportation, or both, or the state, as applicable, appear at a public meeting of the budget committee concerning the proposed extension or amendment to the public-private agreement described in subsection (a)(1) or the proposed agreement described in subsection (a)(2). The authority or the state may not enter into any extension or amendment to the public-private agreement described in subsection (a)(1) or the proposed agreement described in subsection (a)(2) until after the budget committee has reviewed the proposed extension or amendment to the public-private agreement described in subsection (a)(1) or the proposed agreement described in subsection (a)(2).
As added by P.L.108-2019, SEC.82. Amended by P.L.159-2020, SEC.2.