2014 Indiana Code TITLE 36. LOCAL GOVERNMENT ARTICLE 1. GENERAL PROVISIONS CHAPTER 14. DONATIONS
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IC 36-1-14
Chapter 14. Donations
IC 36-1-14-1
Requirements for donations to foundations; exception
Sec. 1. (a) This section does not apply to donations of gaming
revenue to a public school endowment corporation under
IC 20-47-1-3.
(b) As used in this section, "gaming revenue" means either of the
following:
(1) Tax revenue received by a unit under IC 4-33-12-6,
IC 4-33-13, or an agreement to share a city's or county's part of
the tax revenue.
(2) Revenue received by a unit under IC 4-35-8.5 or an
agreement to share revenue received by another unit under
IC 4-35-8.5.
(c) Notwithstanding IC 8-1.5-2-6(d), a unit may donate the
proceeds from the sale of a utility or facility or from a grant, a gift,
a donation, an endowment, a bequest, a trust, or gaming revenue to
a foundation under the following conditions:
(1) The foundation is a charitable nonprofit community
foundation.
(2) The foundation retains all rights to the donation, including
investment powers.
(3) The foundation agrees to do the following:
(A) Hold the donation as a permanent endowment.
(B) Distribute the income from the donation only to the unit
as directed by resolution of the fiscal body of the unit.
(C) Return the donation to the general fund of the unit if the
foundation:
(i) loses the foundation's status as a public charitable
organization;
(ii) is liquidated; or
(iii) violates any condition of the endowment set by the
fiscal body of the unit.
As added by P.L.313-1995, SEC.1. Amended by P.L.17-2000, SEC.2;
P.L.1-2005, SEC.236; P.L.231-2005, SEC.51; P.L.1-2006, SEC.558;
P.L.2-2006, SEC.190; P.L.142-2009, SEC.32.
IC 36-1-14-1.5
Surplus earnings of municipally owned utilities; donation to local
economic development organizations; qualifying muncipalities;
existing obligations
Sec. 1.5. (a) This section applies to a municipality that meets both
of the following:
(1) The municipality has a municipally owned utility that has
donated funds of the municipally owned utility to a local
economic development organization before July 1, 2012.
(2) The municipality is a city having a population of more than
eleven thousand (11,000) but less than eleven thousand four
hundred fifty (11,450).
(b) As used in this section, "local economic development
organization" includes the following:
(1) A nonprofit corporation established under state law whose
primary purpose is the promotion of industrial or business
development in Indiana, the retention or expansion of Indiana
businesses, or the development of entrepreneurial activities in
Indiana.
(2) A nonprofit educational organization whose primary purpose
is educating and developing local leadership for economic
development initiatives.
(3) Any similar organization, including a partnership between
private enterprise and one (1) or more units, the purposes of
which include:
(A) promoting development activities in one (1) or more
units;
(B) coordinating local efforts to attract jobs and new
business investment;
(C) providing assistance to existing businesses to foster
growth and job retention; and
(D) sustaining and improving the quality of life in the units
served.
(c) A municipal legislative body, with the approval of the board
(as defined in IC 8-1.5-3-2) of the municipality's municipally owned
utility, may donate funds from the municipally owned utility's surplus
earnings (as defined in IC 8-1.5-3-11) to a local economic
development organization as long as the terms and conditions of any
bond ordinance, resolution, indenture, contract under IC 8-1-2.2, or
similar instrument binding upon the municipally owned utility are
complied with before the donation is made.
As added by P.L.226-2013, SEC.1.
IC 36-1-14-2
Income from community foundation
Sec. 2. A unit may use income received under this chapter from a
community foundation only for purposes of the unit.
As added by P.L.313-1995, SEC.1.
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