Ind. Code § 36-10-16-1 "Airport authority"
Sec. 1. As used in this chapter, "airport authority" refers to an airport authority established under IC 8-22-3.
As added by P.L.141-2025, SEC.1.
Ind. Code ch. 36-10-16
Ind. Code ch. 36-10-16
in effectInd. Code § 36-10-16-2 "Board"
Sec. 2. As used in this chapter, "board" refers to the commission board appointed under section 18 of this chapter.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-3 "Commission"
Sec. 3. As used in this chapter, "commission" refers to the Midwest continental divide commission which is the governing body of the district.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-4 "Commuter transportation district"
Sec. 4. As used in this chapter, "commuter transportation district" refers to a commuter transportation district established under IC 8-5-15.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-5 "Development authority"
Sec. 5. As used in this chapter, "development authority" refers to a development authority established under IC 36-7.6-2-3.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-6 "District"
Sec. 6. As used in this chapter, "district" refers to the Midwest continental divide district designated under this chapter.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-7 "Economic improvement project"
Sec. 7. As used in this chapter, "economic improvement project" means the following:
(1) Planning or managing development or improvement activities.
(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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-8 "Eligible city"
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).
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-9 "Eligible county"
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).
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-10 "Eligible participant"
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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-11 "Eligible unit"
Sec. 11. As used in this chapter, "eligible unit" means a unit within an eligible county.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-12 "Land use and zoning plan"
Sec. 12. As used in this chapter, "land use and zoning plan" means the land use and zoning plan adopted by the eligible county with the formation of the district.
As added by P.L.141-2025, SEC.1. Amended by P.L.45-2026, SEC.1.
Ind. Code § 36-10-16-13 "Net income"
Sec. 13. As used in this chapter, "net income" means the gross income after deducting:
(1) the necessary operational expenses of the board in performing its duties (the expenses not to exceed the amount budgeted or approved); and
(2) any reserve provided for in the budget.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-14 "Reservation site"
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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-15 "Trail project"
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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-16 Body corporate and politic
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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-17 Establishing the commission
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 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 zoning that is:
(A) inconsistent with the land use and zoning plan; and
(B) not more than one-half (1/2) mile from a trail project approved by the commission and the eligible county or city, as applicable;
shall be considered consistent with the land use and zoning plan by the commission.
(d) The commission shall notify the state budget agency in writing promptly after the commission is established.
As added by P.L.141-2025, SEC.1. Amended by P.L.45-2026, SEC.2.
Ind. Code § 36-10-16-18 Commission board members
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 assembly serving on interim study committees. The allowances shall be paid by the legislative services agency from the amounts appropriated for that purpose.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-19 Board officers
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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-20 Meetings
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 provided in IC 36-7-14.5-9.5.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-21 Bylaws and rules
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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-22 Acquiring 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 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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-23 Disposing of property
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.
(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.
(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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-24 Annual financial audit
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 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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-25 Powers and duties
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 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 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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-26 Joint agreements
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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-27 Annual reporting requirement
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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-28 Commission fund
Sec. 28. (a) The board shall establish and administer the commission fund.
(b) The commission fund consists of the following:
(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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-29 Issuing bonds
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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-30 Lease requirements
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:
(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 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).
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-31 Leasing authority
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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-32 Economic improvement projects
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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-33 Party wall agreements
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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-34 Purchase of economic improvement project
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.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-35 Tax exempt; exception
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 registration statutes.
As added by P.L.141-2025, SEC.1.
Ind. Code § 36-10-16-36 Failure of eligible county or unit to make transfer to commission
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.
As added by P.L.141-2025, SEC.1.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/36Fetched: 10/17/2026