trust; proceeds transferred from the next generation trust fund Sec. 5. (a) The authority has established the next level Indiana trust fund to hold title to proceeds transferred to the trust under IC 8-14-15-5 (before its repeal), to be used exclusively for the provision of highways, roads, and bridges for the benefit of the people of Indiana and the users of those facilities. (b) The trust as established is a charitable trust, separate from the state, but for the benevolent public purpose provided in this section. (c) The trust consists of the proceeds transferred to the trust under IC 8-14-15-5 (before its repeal), and any income that accrues from the investment of these proceeds. As added by P.L.217-2017, SEC.69. Amended by P.L.189-2018, SEC.76.
IC 8-14-15.1-5.5 Transfer of title to proceeds in excess of $250,000,000; immunity from civil liability in connection with transfer Sec. 5.5. (a) Notwithstanding any law to the contrary, the treasurer of state shall transfer title to any proceeds in excess of two hundred fifty million dollars ($250,000,000) held in the trust fund to the next generation trust fund established under IC 8-14-15.2. (b) The officers, directors, and employees of the authority and the treasurer of state (whether arising from the capacities of the position or from having entered in any trust agreement under this chapter) are immune from civil liability in connection with any transfer to the next generation trust fund under this section. As added by P.L.189-2018, SEC.77.