5-1.2-4.5-2. Applicability; extension or amendment; threshold amounts; review by the budget agency

IN Code § 5-1.2-4.5-2 (2019) (N/A)

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Sec. 2. (a) This section applies to a public-private agreement to which the authority is a party under IC 8-15.5 and that is originally entered into after May 1, 2019.

(b) If an extension or an amendment to a public-private agreement would increase the amount to be:

(1) paid by the authority to the operator, another private entity, or a governmental entity by at least one hundred million dollars ($100,000,000); or

(2) received by the operator or a party related to the operator by at least one hundred million dollars ($100,000,000);

the authority shall submit the proposed extension or amendment to the public-private agreement to the budget committee established by IC 4-12-1-3 for its review. The budget committee may request that the authority or the department of transportation, or both, appear at a public meeting of the budget committee concerning the proposed extension or amendment to the public-private agreement. The authority may not enter into any extension or amendment to the public-private agreement until after the budget committee has reviewed the proposed extension or amendment.

As added by P.L.108-2019, SEC.82.

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