First Regular Session of the 124th General Assembly (2025)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
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between statutes enacted by the 2024 Regular Session of the General Assembly.
SENATE ENROLLED ACT No. 468
AN ACT to amend the Indiana Code concerning local government.
Be it enacted by the General Assembly of the State of Indiana:
SECTION 1. IC 36-10-16 IS ADDED TO THE INDIANA CODE
AS A NEW CHAPTER TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2025]:
Chapter 16. Midwest Continental Divide Commission
Sec. 1. As used in this chapter, "airport authority" refers to an
airport authority established under IC 8-22-3.
Sec. 2. As used in this chapter, "board" refers to the commission
board appointed under section 18 of this chapter.
Sec. 3. As used in this chapter, "commission" refers to the
Midwest continental divide commission which is the governing
body of the district.
Sec. 4. As used in this chapter, "commuter transportation
district" refers to a commuter transportation district established
under IC 8-5-15.
Sec. 5. As used in this chapter, "development authority" refers
to a development authority established under IC 36-7.6-2-3.
Sec. 6. As used in this chapter, "district" refers to the Midwest
continental divide district designated under this chapter.
Sec. 7. As used in this chapter, "economic improvement project"
means the following:
(1) Planning or managing development or improvement
activities.
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(2) Designing, landscaping, beautifying, constructing, or
maintaining common areas and attractions, public
improvements, a trail project, public or private ways
(including designing, constructing, or maintaining lighting),
infrastructure, utility facilities (and improvements and
equipment), water facilities (and improvements and
equipment), sewage facilities, rail projects, transportation
projects (and improvements and equipment), streets, or
sidewalks for a common area or public or private way.
(3) Promoting the district, commercial activity, or public
events.
(4) Supporting business recruitment and development.
(5) Providing security for public areas.
(6) Acquiring, constructing, or maintaining parking facilities.
(7) Constructing, rehabilitating, or repairing residential
property, including improvements related to the habitability
of the residential property.
(8) Acquiring, constructing, rehabilitating, or repairing
redevelopment projects, economic development facilities
described in IC 36-7-11.9-3, pollution control facilities
described in IC 36-7-11.9-9, or other local improvements.
Sec. 8. As used in this chapter, "eligible city" refers to a city
having a population of more than one hundred thousand (100,000)
and less than one hundred ten thousand (110,000).
Sec. 9. As used in this chapter, "eligible county" refers to a
county having a population of more than two hundred fifty
thousand (250,000) and less than three hundred thousand
(300,000).
Sec. 10. As used in this chapter, "eligible participant" refers to
a state agency, a development authority, a state or local body
corporate and politic, a tribal government of a reservation site, an
eligible county, an eligible city, and any other eligible unit, along
with any commission, authority, or building corporation of the
foregoing.
Sec. 11. As used in this chapter, "eligible unit" means a unit
within an eligible county.
Sec. 12. As used in this chapter, "land use and zoning plan"
means the zoning overlay district adopted by the eligible county
with the formation of the district.
Sec. 13. As used in this chapter, "net income" means the gross
income after deducting:
(1) the necessary operational expenses of the board in
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performing its duties (the expenses not to exceed the amount
budgeted or approved); and
(2) any reserve provided for in the budget.
Sec. 14. As used in this chapter, "reservation site" means the
trust and reservation lands acquired under section 6 of the Act to
Restore Federal Services to the Pokagon Band of Potawatomi
Indians, P.L.103-323, Sept. 21, 1994, 108 Stat. 2154.
Sec. 15. As used in this chapter, "trail project" refers to the
acquisition, design, construction, and maintenance of a trail system
designed to leverage the continental divide, the state parks and
reserves, and the other ecotourism assets located in the territories
of an eligible unit or a reservation site.
Sec. 16. The commission established under this chapter is a
separate body corporate and politic that shall carry out the
purposes of this chapter by acquiring, developing, funding,
constructing, equipping, and owning economic improvement
projects in or serving the district.
Sec. 17. (a) The commission may be established by the legislative
body of an eligible:
(1) county; and
(2) city;
upon the adoption of an ordinance approved by both bodies
establishing the commission.
(b) The ordinance establishing the commission shall designate
the boundaries of the Midwest continental divide district, if the
legislative bodies determine the following:
(1) The district's designation would encourage collaboration
and support development across jurisdictions.
(2) The district's efforts enhance the quality of life, create
cultural amenities, and preserve key land and natural
resources in at least one (1) eligible unit, a reservation site,
and the surrounding region.
(3) The existence of a development plan for the district that
includes the development of a trail project and that identifies
the trail project's objectives in a clearly focused and
measurable fashion.
(4) The district's designation would catalyze new
developments and attractions and improve tourism and the
tourism industry in the eligible county and Indiana.
(5) The district's efforts would enhance a state park and a
state nature preserve in the eligible county.
The commission, from time to time, may petition the legislative
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body of the eligible county and eligible city, as applicable, to
expand the boundaries of the district inside the respective
jurisdictions.
(c) The ordinance establishing the commission shall also:
(1) approve a land use and zoning plan for the district; and
(2) provide that any change or variance in the land use and
zoning plan requires the approval of the commission.
(d) The commission shall notify the state budget agency in
writing promptly after the commission is established.
Sec. 18. (a) The commission is governed by the commission
board composed of five (5) members.
(b) The board shall consist of the following five (5) members:
(1) One (1) member appointed by the eligible county
executive.
(2) One (1) member appointed by the eligible city executive.
(3) One (1) member appointed by the speaker of the house of
representatives.
(4) One (1) member appointed by the president pro tempore
of the senate.
(5) One (1) member appointed by the Chair of the Pokagon
Band of the Potawatomi.
(c) A legislative member of the board is a nonvoting advisory
member. All other members are voting members.
(d) The term of a member is four (4) years. Legislative members
of the board serve a two (2) year term ending June 30 of an
odd-numbered year. However:
(1) the enabling ordinance may shorten the initial term of a
member to stagger the terms of the board; and
(2) a board member may be removed with or without cause at
any time by the entity who appointed the member.
(e) If a vacancy occurs on the board, the appointing authority
shall appoint a new member. Subject to subsection (d)(2), the
member serves for the remainder of the vacated term.
(f) A board member may not receive a salary. However, a board
member is entitled to receive the following:
(1) A nonlegislative member is entitled to reimbursement for
any expenses necessarily incurred in the performance of the
member's duties. A reimbursement shall be paid from the
commission's funds.
(2) A legislative member is entitled to receive the same per
diem, mileage, and travel allowances established by the
legislative council and paid to members of the general
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assembly serving on interim study committees. The
allowances shall be paid by the legislative services agency
from the amounts appropriated for that purpose.
Sec. 19. (a) At the organizational meeting described in section
20(b)(1) and 20(b)(2) of this chapter, the board shall elect the
following officers from the voting or nonvoting members:
(1) A chair.
(2) A vice chair.
(3) A secretary-treasurer.
(b) The affirmative vote of at least a majority of the voting
members of the board is necessary to elect an officer.
(c) An officer serves from the date of the officer's election until
the officer's successor is elected and qualified.
Sec. 20. (a) The commission is a public agency for purposes of
IC 5-14-1.5 and IC 5-14-3. The board is a governing body for
purposes of IC 5-14-1.5.
(b) The board shall meet quarterly subject to the following:
(1) Within thirty (30) days of the appointment of all the board
members, at the call of the board member appointed by the
county executive, the board shall hold its initial meeting for
the purpose of organization to elect officers in accordance
with section 19(a) of this chapter.
(2) In January 2027, and in each January thereafter, the
board shall hold an organizational meeting at the call of the
chair, or if the chair is unavailable, at the call of any other
two (2) members of the board to elect officers in accordance
with section 19(a) of this chapter.
(3) After the organization meetings described in subdivisions
(1) and (2), all subsequent quarterly meetings shall be held at
the call of the chair or, if the chair is unavailable, at the call
of any other two (2) members of the board.
(c) In addition to the regularly scheduled quarterly meetings
described in subsection (b), the board may meet up to two (2) more
times annually at the call of the chair or, if the chair is unavailable,
at the call of any other two (2) members of the board.
(d) Three (3) members of the board constitute a quorum.
(e) The affirmative votes of at least a majority of the voting
members of the board are necessary to authorize any action of the
commission.
(f) The eligible county and the eligible city may provide staff
support for the board.
(g) The commission may conduct meetings electronically as
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provided in IC 36-7-14.5-9.5.
Sec. 21. The board shall adopt the bylaws and rules that the
board considers necessary for the proper conduct of the board's
duties and the safeguarding of the commission's funds and
property.
Sec. 22. (a) The commission shall comply with IC 5-22 (public
purchasing), IC 36-1-12 (public work projects), and any applicable
federal bidding statutes and regulations. A purchasing agency (as
defined in IC 5-22-2-25) of a political subdivision or other eligible
participant may enter into a lease for property with the
commission at any price and under any other terms and conditions
as may be determined by the political subdivision or eligible
participant.
(b) The commission may purchase real property and shall first
approve the price to be offered to the owner of each parcel of
interest. For properties and interests in real property that:
(1) are not for sale at auction; or
(2) have a total purchase price (including land and structures,
if any) of at least seventy-five thousand dollars ($75,000);
the initial price to be offered may not exceed the average of two (2)
independent appraisals of fair market value procured by the
commission, except that appraisals are not required in transactions
with other governmental agencies. The price offered may not
exceed the average of the two (2) appraisals unless specifically
authorized by the commission or ordered by a court in
condemnation proceedings. Appraisals made under this subsection
are for the information of the commission and are not public
records or open for public inspection. Negotiations for the
purchase of property may be carried on directly by the
commission, by its employees, or by expert negotiators, but no
option, contract, or understanding related to the purchase of real
property is binding on the commission until approved and accepted
by the commission in writing. The commission may also authorize
the payment of a nominal fee to bind an option and as a part of the
consideration for conveyance may agree to pay the expense
incident to the conveyance and determination of the title of the
property. Payment for the property purchased shall be made when
and as directed by the commission, but only on delivery of proper
instruments conveying the title or interest of the owner to the
"Midwest Continental Divide Commission". All real property and
interests in real property acquired by the commission are free and
clear of all governmental liens, assessments, and other
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governmental charges except for current property taxes, which
shall be prorated to the date of acquisition.
(c) Notwithstanding subsections (a) and (b), the commission
may, before the time referred to in this section, accept gifts of
property if the property is free and clear of all governmental liens
other than taxes, assessments, and other governmental charges.
The commission may, before the time referred to in this section,
take options on or contract for the acquisition of property if the
options and contracts are not binding on the commission until the
time referred to in this section and until money is available to pay
the consideration set out in the options or contracts.
Sec. 23. (a) The provisions of this section concerning
publication, bidding, and other procedures and requirements do
not apply to sales, leases, or other dispositions of real property to
eligible participants or Indiana nonprofit corporations or, if
constructed by a developer with revenue bond proceeds, to such
developer. The provisions of this section also do not prevent the
commission from renewing leases encumbering a property
acquired by the commission if the renewals do not collectively
exceed five (5) years.
(b) Before offering for sale or lease to the public any of the real
property acquired, the commission shall cause two (2) separate
appraisals of the sale value, or rental value in case of a lease, to be
made by independent appraisers. However, if the real property is
less than five (5) acres in size and the fair market value of the real
property or interest has been appraised by one (1) independent
appraiser at less than fifty thousand dollars ($50,000), the
commission may proceed with one (1) appraisal. In making
appraisals, the appraisers shall take into consideration the size,
location, and physical condition of the parcels, the advantages
accruing to the parcels under the development plan, and all other
factors having a bearing on the value of the parcels. The appraisals
are solely for the information of the commission, and are not open
for public inspection.
(c) Upon completion of the appraisals described in subsection
(b), the commission shall prepare an offering sheet showing the
parcels to be offered and the offering prices, which may not be less
than the average of the two (2) appraisals. Copies of the offering
sheet shall be furnished to prospective buyers on request. Maps
and plats showing the size and location of all parcels to be offered
shall also be kept available for inspection at the office of the
commission.
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(d) The commission shall publish notice in accordance with
IC 5-3-1. The notice must state that at a designated time the
commission will open and consider written offers for the purchase
or lease of the real property being offered. In giving the notice it is
not necessary to describe each parcel separately, or to specify the
exact terms of disposition, but the notice must state:
(1) the general location of the parcels;
(2) any limitations on the use to be made of the real property
offered; and
(3) that a bid submitted by a trust (as defined in
IC 30-4-1-1(a)) must identify each:
(A) beneficiary of the trust; and
(B) settlor empowered to revoke or change the trust.
(e) The notice shall provide when offers are due, and the
commission shall open the offers at a public meeting. These offers
may consist of consideration in the form of cash, other property, or
a combination of cash and other property. However, with respect
to property other than cash, the offer must be accompanied by
evidence of the property's fair market value that is satisfactory to
the commission in its sole discretion. All offers received shall be
opened at public meetings of the commission and shall be kept open
for public inspection.
(f) The commission may reject any bids and may make awards
to the highest and best bidders. In determining the best bids, the
commission shall take into consideration the following factors:
(1) The size and character of the improvements proposed to
be made by the bidder on the real property bid on.
(2) The bidder's plans and ability to improve the real property
with reasonable promptness.
(3) If the real property when improved will be sold or rented.
(4) The bidder's proposed sale or rental prices.
(5) The bidder's compliance with subsection (d)(3).
(6) Any factors that will assure the commission that the sale
or lease, if made, will further the execution of the
commission's development plan and best serve the interest of
the community, from the standpoint of both human and
economic welfare.
(g) The commission may contract with a bidder in regard to the
factors listed in subsection (f), and the contract may provide for the
deposit of surety bonds, the making of good faith deposits,
liquidated damages, the right of repurchase, or other rights and
remedies if the bidder fails to comply with the contract.
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(h) After the opening and consideration of the written offers
filed in response to the notice, the commission may dispose of the
remainder of the available real property either at public sale or by
private negotiation carried on by the commission, the commission's
regular employees, or real estate experts employed for that
purpose. For a period of thirty (30) days after the opening of the
written offers, no sale or lease may be made at a price or rental less
than that shown on the offering sheet, except in the case of sales or
rentals of ten (10) or more parcels to a purchaser or lessee who
agrees to improve the parcels immediately, but after that period
the commission may adjust the offering prices in the manner the
commission considers necessary to further the development plan.
(i) A conveyance under this section may not be made until the
agreed consideration has been paid, unless the commission passes
a resolution expressly providing that the consideration does not
need to be paid before the conveyance is made. In addition, such a
resolution may provide for a mortgage or other security. All deeds,
leases, land sale contracts, or other conveyances, and all contracts
and agreements, including contracts of purchase and sale and
contracts for advancements, loans, grants, contributions, or other
aid, shall be executed in the name of the "Midwest Continental
Divide Commission ", and shall be signed by the chair or vice chair
of the commission and attested by the commission's
secretary-treasurer. A seal is not required on these instruments or
any other instruments executed in the name of the commission.
(j) Once a property has been leased in accordance with this
section, such lease may be renewed, extended, or replaced by the
commission provided that the commission shall secure one (1) or
more appraisals to evidence the existing fair market lease rental to
the extent such renewals collectively exceed five (5) years from the
expiration or termination of the original lease term or each
extension or new lease interval entered into thereafter. The
commission shall consider the results of such appraisals before the
approval of such lease renewal or new lease.
Sec. 24. (a) The state board of accounts shall, pursuant to
IC 5-11-1-7 and IC 5-11-1-24, allow the commission to contract
with a certified public accountant for an annual financial audit of
the commission. The certified public accountant may not have a
significant financial interest in a project, facility, or service funded
by or leased by or to the commission. The certified public
accountant selected by the commission must be approved by the
state examiner and is subject to the direction of the state examiner
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while performing an annual financial audit under this chapter.
(b) The certified public accountant shall present an audit report
not later than four (4) months after the end of each calendar year
and shall make recommendations to improve the efficiency of the
commission's operations. The certified public accountant shall also
perform a study and evaluation of internal accounting controls and
shall express an opinion on the controls that were in effect during
the audit period.
(c) The commission shall pay the cost of the annual financial
audit under subsection (a). In addition, the state board of accounts
may at any time conduct an audit of any phase of the operations of
the commission. The commission shall pay the cost of any audit by
the state board of accounts.
(d) The state board of accounts may waive the requirement that
a certified public accountant perform an annual financial audit of
the commission for a particular year if the commission certifies to
the state board of accounts that the commission had no financial
activity during that year.
Sec. 25. (a) The commission shall do the following:
(1) Assist in the coordination of efforts concerning projects
that are located in or otherwise affect the district.
(2) Assist an eligible county, an eligible unit, a tribal
government of a reservation site, and a development authority
in coordinating tourism and economic development efforts
related to or that otherwise leverage economic improvement
projects in or serving the district.
(3) Provide for the design, development, construction,
operation, and maintenance of the trail project.
(b) The commission may do any of the following:
(1) Improve, construct, reconstruct, renovate, purchase,
acquire, and equip land and economic improvement projects.
(2) Lease land or an economic improvement project.
(3) Acquire and construct additional improvements to
economic improvement projects or other capital
improvements owned by the commission and lease them to or
for the benefit of an eligible participant.
(4) Acquire land or all or a part of one (1) or more economic
improvement projects from an eligible participant or an
Indiana nonprofit corporation by purchase and lease the land
or economic improvement projects back to the eligible
participant or Indiana nonprofit, with any additional
improvements that may be made to the land or economic
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improvement projects.
(5) Acquire all or a part of one (1) or more economic
improvement projects from an eligible participant by
purchase to fund or refund indebtedness incurred on account
of the economic improvement projects to enable the eligible
participant to make a savings in debt service obligations or
lease rental obligations or to get relief from covenants that the
eligible participant considers to be unduly burdensome.
(6) Make loans, loan guarantees, and grants or provide other
financial assistance to or on behalf of the following for
economic improvement projects:
(A) A commuter transportation district.
(B) An airport authority.
(C) A regional transportation authority.
(D) An eligible county.
(E) An eligible unit.
(7) Provide funding for economic improvement projects.
(8) Hold, use, purchase, acquire, and dispose of by purchase,
exchange, gift, bequest, grant, condemnation (subject to
subsection (d)), lease, or sublease, on the terms and conditions
determined by the commission, any real or personal property.
(9) After giving notice, enter upon any lots or lands for the
purpose of surveying or examining the lots or lands to
determine the location of an economic improvement project.
(10) Make or enter into all contracts and agreements
necessary or incidental to the performance of the
commission's duties and the execution of the commission's
powers under this chapter.
(11) Sue, be sued, plead, and be impleaded.
(12) Design, order, contract for, construct, reconstruct, and
renovate an economic improvement project.
(13) Appoint or contract for an executive director and employ
appraisers, real estate experts, engineers, architects,
surveyors, attorneys, accountants, auditors, clerks,
construction managers, and any consultants or employees that
are necessary or desired by the commission in exercising the
commission's powers or carrying out the commission's duties
under this chapter.
(14) Accept grants, and other forms of financial assistance
from the federal government, the state government, an
eligible participant, or any other public or private source.
(15) Use the commission's funds to match federal grants or
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make loans, loan guarantees, or grants to carry out the
commission's powers and duties under this chapter.
(16) Recommend any changes and approve any requested
variances to the land use and zoning plan for the district.
(17) Except as prohibited by law, take any action necessary to
carry out this chapter.
(c) If the commission is unable to agree with the owners, lessees,
or occupants of any real property in the district selected for the
purposes of this chapter, the commission may proceed under
IC 32-24-1 to procure the condemnation of the property, subject to
the approvals set forth in subsection (d). The commission may not
institute a proceeding until it has adopted a resolution that:
(1) describes the real property sought to be acquired and the
purpose for which the real property is to be used;
(2) declares that the public interest and necessity require the
acquisition by the commission of the property involved; and
(3) sets out any other facts that the commission considers
necessary or pertinent.
The resolution is conclusive evidence of the public necessity of the
proposed acquisition.
(d) The commission may exercise the power of eminent domain
as provided in section 22 of this chapter and subsection (c)
concerning a particular property only if the acquisition of the real
property has been approved by:
(1) the legislative body of the eligible city if the property is
located inside the eligible city; or
(2) the legislative body of the eligible county if the property is
not located inside the eligible city.
Sec. 26. The commission may enter into an agreement with an
eligible participant or Indiana nonprofit corporation to:
(1) jointly equip, own, and purchase economic improvement
projects in or serving the district; or
(2) otherwise carry out the purposes of the commission.
Sec. 27. The commission shall before April 1 of each year issue
a report to the legislative council, budget committee, and the
legislative body and executive of the eligible county and the eligible
city concerning the operations and activities of the commission
during the preceding calendar year. The report to the legislative
council must be in an electronic format under IC 5-14-6.
Sec. 28. (a) The board shall establish and administer the
commission fund.
(b) The commission fund consists of the following:
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(1) Amounts transferred to the fund by an eligible county or
eligible unit, including any payments required under an
interlocal agreement or other similar agreement between the
eligible county or eligible unit, or by another eligible
participant. The transfers allowed by this subdivision from an
eligible county or eligible unit may be made from any local
revenue of an eligible county or eligible unit, as applicable,
including any department or instrumentality thereof, which
local revenue may include property tax revenue, tax
increment financing revenues, distributions, incentive
payments, money deposited in the eligible county's or eligible
unit's local major moves construction fund under IC 8-14-16,
money received by an eligible participant under a
development or interlocal agreement, or any other local
revenue that is not otherwise restricted by law or committed
for the payment of other obligations.
(2) Appropriations, grants, or other distributions made to the
fund by the state.
(3) Money received from the federal government.
(4) Gifts, contributions, donations, and private grants made
to the fund.
(c) All revenue of the commission may be deposited in the
general account at the discretion of the board, and such deposits
may be used for any purpose authorized by this chapter.
(d) The commission fund shall be administered by the board
that established the commission fund.
(e) Money in the commission fund shall be used by the
commission to carry out this chapter and does not revert to any
other fund.
Sec. 29. (a) Bonds issued under IC 36-7-12, IC 36-7-14, or other
applicable law may be refunded as provided in this section.
(b) An eligible participant or Indiana nonprofit corporation
may sell all or a part of land or an economic improvement project
or projects to the commission for a price sufficient to provide for
the refunding of those bonds and lease back the land or economic
improvement project or projects from the commission.
Sec. 30. (a) Before a lease may be entered into by an eligible
participant under this chapter, the eligible participant must find
that the lease rental provided for is fair and reasonable.
(b) A lease of land or an economic improvement project from
the commission to an eligible participant or Indiana nonprofit
corporation:
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(1) may not have a term exceeding twenty (20) years;
(2) may not require payment of lease rentals for a newly
constructed economic improvement project or for
improvements to an existing economic improvement project
until the economic improvement project or improvements to
the economic improvement project have been completed and
are ready for occupancy or use;
(3) may contain provisions:
(A) allowing the eligible participant or Indiana nonprofit
to continue to operate an existing economic improvement
project until completion of the acquisition, improvements,
reconstruction, or renovation of that economic
improvement project or any other economic improvement
project; and
(B) requiring payment of lease rentals for land, for an
existing economic improvement project being used,
reconstructed, or renovated, or for any other existing
economic improvement project;
(4) may contain an option to renew the lease for the same or
a shorter term on the conditions provided in the lease;
(5) must contain an option for the eligible participant or
Indiana nonprofit corporation to purchase the economic
improvement project upon the terms stated in the lease
during the term of the lease for a price equal to the amount
required to pay all indebtedness incurred on account of the
economic improvement project, including indebtedness
incurred for the refunding of that indebtedness;
(6) may be entered into before acquisition or construction of
an economic improvement project;
(7) may provide that the eligible participant shall agree to:
(A) pay any taxes and assessments on the economic
improvement project;
(B) maintain insurance on the economic improvement
project for the benefit of the commission;
(C) assume responsibility for utilities, repairs, alterations,
and any costs of operation; and
(D) pay a deposit or series of deposits to the commission
from any funds available to the eligible participant before
the start of the lease to secure the performance of the
eligible participant's obligations under the lease; and
(8) must provide that the lease rental payments by the eligible
participant shall be made from the commission fund
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established under section 28 of this chapter and may provide
that the lease rental payments by the eligible participant shall
be made from:
(A) net revenues of the economic improvement project;
(B) any other funds available to the eligible participant; or
(C) both sources described in clauses (A) and (B).
Sec. 31. This chapter contains full and complete authority for
leases between the commission and an eligible participant. No law,
procedure, proceedings, publications, notices, consents, approvals,
orders, or acts by the commission or the eligible participant or any
other officer, department, agency, or instrumentality of the state
or any political subdivision is required to enter into any lease,
except as prescribed in this chapter.
Sec. 32. If the lease provides for an economic improvement
project or improvements to an economic improvement project to
be constructed by the commission, the plans and specifications
shall be submitted to and approved by all agencies designated by
law to pass on plans and specifications for such project or
improvements.
Sec. 33. The commission may enter into common wall (party
wall) agreements or other agreements concerning easements or
licenses. These agreements shall be recorded with the recorder of
the county in which the economic improvement project is located.
Sec. 34. (a) An eligible participant or Indiana nonprofit may sell
to the commission one (1) or more economic improvement projects
or parts of an economic improvement project or land on which an
economic improvement project is located or is to be constructed.
(b) An eligible participant may sell property to the commission
for the amount the eligible participant determines to be in the best
interest of the eligible participant.
Sec. 35. (a) All:
(1) property owned by the commission or lease interest of the
commission; and
(2) revenue of the commission;
are exempt from taxation in Indiana for all purposes except the
financial institutions tax imposed under IC 6-5.5.
(b) A contractor may issue an exemption certificate under
IC 6-2.5-8-8 to a vendor when purchasing tangible personal
property to be incorporated into real property on land owned or
leased by the commission located in the district.
(c) All securities issued under this chapter are exempt from the
registration requirements of IC 23-19 and other securities
SEA 468 — Concur 16
registration statutes.
Sec. 36. (a) This section applies if an eligible county or an
eligible unit fails to make a transfer or part of a transfer required
by section 28 of this chapter.
(b) The treasurer of state or treasurer of county, as applicable,
shall do the following:
(1) Withhold an amount equal to the amount of the transfer
or part of the transfer under section 28 of this chapter that
the eligible county or eligible unit failed to make from money
in the possession of the state that would otherwise be available
for distribution to the eligible county or eligible unit under
any other law.
(2) Pay the amount withheld under subdivision (1) to the
commission to satisfy the eligible county's or eligible unit's
obligations to the commission.
SECTION 2. [EFFECTIVE JULY 1, 2025] (a) Notwithstanding
the purposes and limitations specified in SECTION 30 of
P.L.201-2023 (HEA 1001-2023) for the thirty million dollar
($30,000,000) appropriation for the state fiscal year ending June
30, 2024, to the northern Indiana regional development authority
to be used only to support capital projects to expand the Indiana
Enterprise Center and for certain potential economic development
projects with a certain proposed total capital investment, the
appropriation may also be expended by the northern Indiana
regional development authority to support and provide funding to
the Midwest continental divide commission (established under
IC 36-10-16, as added by this act).
(b) This SECTION expires July 1, 2028.
SEA 468 — Concur President of the Senate
President Pro Tempore
Speaker of the House of Representatives
Governor of the State of Indiana
Date: Time:
SEA 468 — Concur