Bill Text: IN SB0362 | 2012 | Regular Session | Enrolled
Bill Title: White River park foundation.
Sponsorship: Moderate Partisan Bill (Republican 4-1)
Status: (Enrolled - Dead) 2012-03-14 - Signed by the Governor [SB0362 Detail]
Download: Indiana-2012-SB0362-Enrolled.html
Second Regular Session 117th General Assembly (2012)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
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SENATE ENROLLED ACT No. 362
AN ACT to amend the Indiana Code concerning natural and cultural resources.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 14-13-1-41; (12)SE0362.1.1. -->
SECTION 1. IC 14-13-1-41 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2012]: Sec. 41. (a) The commission may establish a nonprofit
subsidiary corporation that is exempt from federal income taxation
under Section 501(c)(3) of the Internal Revenue Code, to solicit and
accept private funding, gifts, donations, bequests, devises, and
contributions.
(b) A subsidiary corporation established under this section:
(1) shall use money received under subsection (a) to carry out in any manner the purposes of and programs under this chapter;
(2) shall report to the budget committee each year concerning:
(A) the use of money received under subsection (a); and
(B) the balances in any accounts or funds established by the subsidiary corporation; and
(3) may deposit money received under subsection (a) in an account or fund that is:
(A) administered by the subsidiary corporation; and
(B) not part of the state treasury.
(c) A subsidiary corporation established under this section is governed by a board of directors comprised of:
(1) the members of the commission appointed under section 6 of this chapter; and
(2) any other directors that the members of the commission appoint.
(d) Employees of the commission shall provide administrative support for a subsidiary corporation established under this section.
(e) The state board of accounts shall annually audit a subsidiary corporation established under this section.
(b) A subsidiary corporation established under this section:
(1) shall use money received under subsection (a) to carry out in any manner the purposes of and programs under this chapter;
(2) shall report to the budget committee each year concerning:
(A) the use of money received under subsection (a); and
(B) the balances in any accounts or funds established by the subsidiary corporation; and
(3) may deposit money received under subsection (a) in an account or fund that is:
(A) administered by the subsidiary corporation; and
(B) not part of the state treasury.
(c) A subsidiary corporation established under this section is governed by a board of directors comprised of:
(1) the members of the commission appointed under section 6 of this chapter; and
(2) any other directors that the members of the commission appoint.
(d) Employees of the commission shall provide administrative support for a subsidiary corporation established under this section.
(e) The state board of accounts shall annually audit a subsidiary corporation established under this section.
SEA 362
Figure
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Graphic file number 0 named seal1001.pcx with height 58 p and width 72 p Left aligned
