HJR 5

Bill Subjects

Budgets And Appropriations Public Funds

Abstract

Establishes the Indiana permanent fund (fund) in the state treasury. Provides that the fund consists of: (1) 50% or such other greater percentage established by law of any general fund budget surplus realized during a state fiscal year; (2) appropriations made to the fund; and (3) other sources designated by law. Requires income from the fund to be reinvested in the fund. Authorizes the payment of dividends from the income to eligible recipients. Provides that, to be eligible to receive a dividend payment from the fund, a person must have voted in the most recent general election in which the person was eligible to vote occurring before the payment of the dividend. Provides that the principal of the fund may be used only for those investments specifically designated by law as eligible for investment from the fund.