Bill Text: IN SB0325 | 2011 | Regular Session | Enrolled
Bill Title: Local development agreements.
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: (Passed) 2011-05-18 - Effective 04/28/2011 [SB0325 Detail]
Download: Indiana-2011-SB0325-Enrolled.html
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AN ACT to amend the Indiana Code concerning state offices and administration.
Chapter 23. Administration of Local Development Agreements
Sec. 1. As used in this chapter, "affiliate" means any person who directly or indirectly controls, is controlled by, or is under common control of another person.
Sec. 2. As used in this chapter, "development agreement" means the written agreement or group of written agreements that:
(1) is between a person or a unit of government, and a development provider; and
(2) sets forth the financial commitments of a development provider to support economic development, including, without limitation, charitable or educational purposes in a specified location.
Sec. 3. As used in this chapter, "development provider" means:
(1) a licensed owner;
(2) an operating agent; or
(3) an affiliate of a licensed owner or an operating agent who makes or may make an economic development payment.
Sec. 4. As used in this chapter, "economic development
payment" means monetary disbursement paid under a
development agreement that is:
(1) received by a unit of government or any other person; and
(2) not paid in legitimate exchange for anything of value,
including, without limitation:
(A) a lease;
(B) a purchase order; or
(C) a service contract.
Sec. 5. As used in this chapter, "specified recipient" means a
person that is named in a development agreement that:
(1) receives an economic development payment from a
development provider; and
(2) is not a party to the development agreement.
Sec. 6. As used in this chapter, "unspecified recipient" means a
person that is not named in a development agreement that receives
a disbursement of money from a specified recipient.
Sec. 7. (a) The commission has continuous jurisdiction over
development agreements, including the ability to disapprove part
or all of a development agreement if disapproval would ensure:
(1) compliance with this article, the rules of the commission,
and federal law;
(2) the integrity of gambling operations in Indiana; and
(3) compliance with the purposes of the agreement.
(b) The commission may verify and ensure that development
agreements, economic development payments, disbursements to
unspecified recipients, and expenditures of third party recipients:
(1) comply with state and federal law;
(2) do not adversely affect the integrity of gambling
operations in Indiana; and
(3) comply with the purposes of the agreement.
Sec. 8. All development agreements must contain the following
statement:
"All parties to this agreement recognize the authority of the
Indiana gaming commission over this agreement, including
the authority to disapprove all or part of this agreement, to
verify and ensure payments made under this agreement, to
verify and ensure expenditures by recipients, to verify and
ensure that compliance with the purposes of the agreement,
and to act concerning modifications to the agreement. All
parties to this agreement agree to comply fully with any
requests for information or directives related to the exercise
of the commission's authority.".
Sec. 9. A development agreement shall accurately reflect the flow of economic development payments.
Sec. 10. (a) A development provider shall report annually to the commission the following:
(1) the total dollar amounts of economic development payments;
(2) the parties or specified recipients, or both, that receive economic development payments; and
(3) any other items related to an economic development payment that the commission may require.
(b) A specified recipient of an economic development payment shall report annually to the commission an accounting of:
(1) any economic development payment received by the recipient; and
(2) any disbursements of economic development payment money that the recipient makes to:
(A) another specified recipient; or
(B) an unspecified recipient.
(c) A report submitted under subsection (b) must include:
(1) the legal name of the person submitting the report;
(2) the date, amount, and purpose of each disbursement;
(3) the name of each specified or unspecified recipient receiving a disbursement; and
(4) any other information that the commission may require.
(d) Upon request of the commission, a person submitting a report under subsection (a) or (b) shall attach to the report sufficient documentation to support a transaction described in the report.
(e) A report submitted under subsection (a) or (b) must be made available electronically through the computer gateway administered by the office of technology established by IC 4-13.1-2-1.
(f) The commission may require, with respect to a report required by this section:
(1) the format of the report;
(2) the deadline by which the report must be filed; and
(3) the manner in which the report must be maintained and filed.
Sec. 11. (a) A party that is not the development provider may not be a for-profit person.
(b) A specified recipient may not be a for-profit person.
(c) A specified recipient who disburses part or all of an
economic development payment to an unspecified recipient has a
duty to ensure that the expenditures made by an unspecified
recipient directly advance the stated purposes of the economic
development payment.
Sec. 12. (a) Each nonprofit specified recipient must have a
conflict of interest statement that complies with state and federal
law, and must provide the commission with a copy of the
statement.
(b) Each nonprofit specified recipient must provide the
commission with a copy of its bylaws.
Sec. 13. (a) Any recipient of an economic development payment
must deposit the economic development payment into a separate
and segregated bank account not later than five (5) days after its
receipt.
(b) The bank account referenced in subsection (a):
(1) must allow expenditures only in accordance with the terms
of the development agreement;
(2) must be used to account for and report the proceeds of
economic development payments; and
(3) must be maintained at an FDIC insured bank that is
located in and has a corporate presence in the State of
Indiana.
Sec. 14. (a) If all parties to a development agreement agree to
modify a development agreement, the parties shall:
(1) submit to the commission a written request for
modification, which shall be signed by all parties;
(2) submit a copy of the development agreement as it would
appear after modification; and
(3) submit a document explaining the parties' reasons for the
requested modifications.
(b) The commission may consider a request for modification
that complies with subsection (a).
(c) If the commission approves the parties' request, the parties
shall provide the commission with a fully executed copy of the new
development agreement not later than thirty (30) days after the
date of commission approval.
Sec. 15. (a) If the commission has disapproved all or part of a
development agreement, the development provider shall request a
modification of the development agreement.
(b) The development provider shall submit to the commission:
(1) a copy of the development agreement as it would appear
after modification; and
(2) a listing of all proposed modifications.
(c) The commission shall consider a request for modification that complies with subsections (a) and (b).
(d) The development provider shall notify all parties to the development agreement whose participation in the development agreement has not been disapproved of by the commission that it has submitted a modification request to the commission.
(e) Any party to a development agreement whose participation in the development agreement has not been disapproved of by the commission may submit to the commission any information that it considers relevant to the proposed modification.
Sec. 16. Upon request of the attorney general, the commission shall make available to the attorney general all filings made under this chapter regarding a development agreement.
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