Bill Text: IN SB0478 | 2011 | Regular Session | Enrolled

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Bill Title: State fair foundation.

Spectrum: Slight Partisan Bill (Republican 3-1)

Status: (Passed) 2011-05-18 - Effective 07/01/2011 [SB0478 Detail]

Download: Indiana-2011-SB0478-Enrolled.html

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First Regular Session 117th General Assembly (2011)

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 this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts between statutes enacted by the 2010 Regular Session of the General Assembly.

    SENATE ENROLLED ACT No. 478

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     AN ACT to amend the Indiana Code concerning agriculture and animals.

Be it enacted by the General Assembly of the State of Indiana:

SOURCE: IC 15-13-3-9; (11)SE0478.1.1. -->

    SECTION 1. IC 15-13-3-9, AS ADDED BY P.L.2-2008, SECTION 4, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2011]: Sec. 9. At the first meeting each year of the advisory committee, the commission shall report the following:
        (1) The activities of the commission during the previous calendar year.
        (2) The financial condition of the commission for the commission's most recently completed fiscal year.
        (3) The commission's plans for the current calendar year.
         (4) The activities and financial condition of any nonprofit subsidiary corporation established under section 11 of this chapter for the subsidiary corporation's most recent fiscal year.

SOURCE: IC 15-13-3-11; (11)SE0478.1.2. -->     SECTION 2. IC 15-13-3-11 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2011]: Sec. 11. (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 and programs under this article;
        (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 the members of the commission.
    (d) Employees of the commission shall provide administrative support for a subsidiary corporation.
    (e) The state board of accounts shall annually audit a subsidiary corporation established under this section.

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SEA 478

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