PROPOSED AMENDMENT HB 1273 # 4 DIGEST Bonding authority for capital improvements for the Michael A. Carroll Track and Soccer Stadium. Deletes the provisions currently in the bill. Provides that Indiana University may issue and sell bonds to acquire, erect, construct, reconstruct, improve, rehabilitate, remodel, repair, complete, extend, or enlarge capital improvements at the Michael A. Carroll Track and Soccer Stadium (stadium). Specifies that principal costs issued (excluding amounts necessary to provide money for debt service reserves, credit enhancement, or other costs incidental to the issuance of the bonds) may not exceed $20,000,000. Provides that the bonds may not be issued unless: (1) the bond issuance has been reviewed by the budget committee; (2) the director of the budget agency has approved the bond issuance; and (3) a lease agreement has been entered into by Indiana University and a professional soccer team concerning the use of the stadium by the professional soccer team. Requires the department of state revenue to separately account for: (1) all state sales taxes that are attributable to retail transactions at the stadium or a specific hotel located in Indianapolis; and (2) all state income tax and county option income tax attributable to income earned at the stadium or the hotel. Provides that county option income tax attributable to income earned at the stadium or the hotel shall be deposited in the state general fund and not distributed to the county. Provides that if Indiana University issues the bonds, the county admission tax in Marion County is imposed on the admission to professional sports events at the stadium, and that such county admission tax revenue is deposited in the state general fund. Authorizes the capital improvement board of managers to: (1) adopt a resolution to distribute innkeeper's tax revenue collected from the hotel to the treasurer of state for deposit in the state general fund; and (2) adopt a resolution to distribute food and beverage tax revenue collected from the stadium and the hotel to the treasurer of state for deposit in the state general fund; if the capital improvement board of managers determines that such tax revenue is not needed to pay obligations owed by the capital improvement board of managers and that the retention of such revenue by the state will not impair the rights and remedies of holders of any bonds or other obligations. Provides that after the commissioner of the department of state revenue certifies that the sum of: (1) all state sales taxes collected from transactions at the stadium or hotel; (2) all adjusted gross income taxes and county option income taxes collected that are attributable to income earned at the stadium or hotel; (3) all admission taxes imposed on admission to professional sporting events at the stadium; (4) all county food and beverage taxes collected at the stadium or hotel that are distributed to the treasurer of state for deposit in the state general fund; and (5) all county innkeeper's taxes collected at the hotel that are distributed to the treasurer of state for deposit in the state general fund; equals the total amount of principal and interest payments to be made on the bonds issued for the capital improvements at the stadium, the county option income tax from the hotel shall not be retained by the state, the admission tax collected at the stadium shall be distributed to the capital improvement board, and the capital improvement board may not distribute county food and beverage tax and innkeeper's taxes collected at the stadium or hotel to the treasurer of state. Specifies that to the extent that the costs of the capital improvements at the stadium exceed the sum of $20,000,000 plus any amounts paid or contributed by the city of Indianapolis for those costs, the professional soccer team or the professional soccer league in which the professional soccer team competes (or both) must pay those excess costs. Appropriates $1,500,000 from the state general fund in each year of the biennium to Indiana University for fee replacement. AM127304/DI 73 2015 2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 AM127304/DI 73 Delete the title and insert the following: A BILL FOR AN ACT to amend the Indiana Code concerning taxation and to make an appropriation. Page 1, delete lines 1 through 15, begin a new paragraph and insert: "SECTION 1. IC 6-2.5-10-1.5 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 1.5. The department shall separately account for all state gross retail and use taxes collected that are: (1) attributable to retail transactions at: (A) the Michael A. Carroll Track and Soccer Stadium; or (B) a hotel that is: (i) opened after July 1, 2015; and (ii) located at the southeast corner of the intersection of Illinois Street and Market Street in Indianapolis; and (2) deposited in the state general fund. This section expires after the commissioner of the department makes a certification under IC 21-35.5-1-4. SECTION 2. IC 6-3-7-3.5 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 3.5. The department shall separately account for all adjusted gross income taxes collected under this article that are attributable to income earned, as determined by the department, at: (1) the Michael A. Carroll Track and Soccer Stadium; or (2) a hotel that is: (A) opened after July 1, 2015; and (B) located at the southeast corner of the intersection of Illinois Street and Market Street in Indianapolis. This section expires after the commissioner of the department makes a certification under IC 21-35.5-1-4. SECTION 3. IC 6-3.5-6-17, AS AMENDED BY P.L.153-2014, SECTION 7, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 17. (a) Except as provided in subsection (m), revenue derived from the imposition of the county option income tax shall, in the manner prescribed by this section, be distributed to the county that imposed it. The amount that is to be distributed to a county during an ensuing calendar year equals the amount of county option income tax revenue that the budget agency determines has been: 2015 3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 AM127304/DI 73 (1) received from that county for a taxable year ending in a calendar year preceding the calendar year in which the determination is made; and (2) reported on an annual return or amended return processed by the department in the state fiscal year ending before July 1 of the calendar year in which the determination is made; as adjusted (as determined after review of the recommendation of the budget agency) for refunds of county option income tax made in the state fiscal year. (b) Before August 2 of each calendar year, the budget agency shall provide to the county auditor of each adopting county an estimate of the amount determined under subsection (a) that will be distributed to the county, based on known tax rates. Not later than thirty (30) days after receiving the estimate of the certified distribution, the county auditor shall notify each taxing unit of the estimated amount of distributive shares and other revenue that will be distributed to the taxing unit under this chapter during the ensuing calendar year. Before October 1 of each calendar year, the budget agency shall certify to the county auditor of each adopting county the amount determined under subsection (a) plus the amount of interest in the county's account that has accrued and has not been included in a certification made in a preceding year. The amount certified is the county's "certified distribution" for the immediately succeeding calendar year. The amount certified shall be adjusted, as necessary, under subsections (c), (d), (e), and (f). Not later than thirty (30) days after receiving the notice of the amount of the certified distribution, the county auditor shall notify each taxing unit of the amount of distributive shares and other revenue that will be distributed to the taxing unit under this chapter during the ensuing calendar year. The budget agency shall provide the county council with an informative summary of the calculations used to determine the certified distribution. The summary of calculations must include: (1) the amount reported on individual income tax returns processed by the department during the previous fiscal year; (2) adjustments for over distributions in prior years; (3) adjustments for clerical or mathematical errors in prior years; (4) adjustments for tax rate changes; and (5) the amount of excess account balances to be distributed under IC 6-3.5-6-17.3. The budget agency shall also certify information concerning the part of 2015 4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 AM127304/DI 73 the certified distribution that is attributable to a tax rate under section 30, 31, or 32 of this chapter. This information must be certified to the county auditor and to the department of local government finance before October 1 of each calendar year. The part of the certified distribution that is attributable to a tax rate under section 30, 31, or 32 of this chapter may be used only as specified in those provisions. (c) The budget agency shall certify an amount less than the amount determined under subsection (b) if the budget agency determines that the reduced distribution is necessary to offset overpayments made in a calendar year before the calendar year of the distribution. The budget agency may reduce the amount of the certified distribution over several calendar years so that any overpayments are offset over several years rather than in one (1) lump sum. (d) The budget agency shall adjust the certified distribution of a county to correct for any clerical or mathematical errors made in any previous certification under this section. The budget agency may reduce the amount of the certified distribution over several calendar years so that any adjustment under this subsection is offset over several years rather than in one (1) lump sum. (e) This subsection applies to a county that imposes, increases, decreases, or rescinds a tax or tax rate under this chapter before November 1 in the same calendar year in which the budget agency makes a certification under this section. The budget agency shall adjust the certified distribution of a county to provide for a distribution in the immediately following calendar year and in each calendar year thereafter. The budget agency shall provide for a full transition to certification of distributions as provided in subsection (a)(1) through (a)(2) in the manner provided in subsection (c). If the county imposes, increases, decreases, or rescinds a tax or tax rate under this chapter after the date for which a certification under subsection (b) is based, the budget agency shall adjust the certified distribution of the county after September 30 of the calendar year. The adjustment shall reflect any other adjustment required under subsections (c), (d), and (f). The adjusted certification shall be treated as the county's "certified distribution" for the immediately succeeding calendar year. The budget agency shall certify the adjusted certified distribution to the county auditor for the county and provide the county council with an informative summary of the calculations that revises the informative summary provided in subsection (b) and reflects the changes made in the adjustment. 2015 5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 AM127304/DI 73 (f) This subsection applies in the year a county initially imposes a tax rate under section 30 of this chapter. Notwithstanding any other provision, the budget agency shall adjust the part of the county's certified distribution that is attributable to the tax rate under section 30 of this chapter to provide for a distribution in the immediately following calendar year equal to the result of: (1) the sum of the amounts determined under STEP ONE through STEP FOUR of IC 6-3.5-1.5-1(b) in the year in which the county initially imposes a tax rate under section 30 of this chapter; multiplied by (2) the following: (A) In a county containing a consolidated city, one and five-tenths (1.5). (B) In a county other than a county containing a consolidated city, two (2). (g) One-twelfth (1/12) of each adopting county's certified distribution for a calendar year shall be distributed from its account established under section 16 of this chapter to the appropriate county treasurer on the first regular business day of each month of that calendar year. (h) Upon receipt, each monthly payment of a county's certified distribution shall be allocated among, distributed to, and used by the civil taxing units of the county as provided in sections 18 and 19 of this chapter. (i) All distributions from an account established under section 16 of this chapter shall be made by warrants issued by the auditor of state to the treasurer of state ordering the appropriate payments. (j) The budget agency shall before May 1 of every odd-numbered year publish an estimate of the statewide total amount of certified distributions to be made under this chapter during the following two (2) calendar years. (k) The budget agency shall before May 1 of every even-numbered year publish an estimate of the statewide total amount of certified distributions to be made under this chapter during the following calendar year. (l) The estimates under subsections (j) and (k) must specify the amount of the estimated certified distributions that are attributable to the additional rate authorized under section 30 of this chapter, the additional rate authorized under section 31 of this chapter, the additional rate authorized under section 32 of this chapter, and any 2015 6 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 AM127304/DI 73 other additional rates authorized under this chapter. (m) The revenue derived from the imposition of the county option income tax on income earned, as determined by the department, at: (1) the Michael A. Carroll Track and Soccer Stadium; or (2) a hotel that is: (A) opened after July 1, 2015; and (B) located at the southeast corner of the intersection of Illinois Street and Market Street in Indianapolis; shall be deposited in the state general fund and shall not be distributed to the county. The department shall separately account for the county option income taxes deposited in the state general fund under this subsection. This subsection expires after the commissioner of the department makes a certification under IC 21-35.5-1-4. SECTION 4. IC 6-9-8-5 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 5. (a) Subject to subsection (b), the capital improvement board of managers may adopt a resolution to distribute to the treasurer of state all or part of the tax collected under this chapter at a hotel that is: (1) opened after July 1, 2015; and (2) located at the southeast corner of the intersection of Illinois Street and Market Street in Indianapolis; if the capital improvement board of managers determines that such tax is not needed to pay obligations owed by the capital improvement board of managers and that the distribution of such tax to the treasurer of state will not impair the rights and remedies of holders of any bonds or other obligations. All tax distributed to the treasurer of state under this subsection shall be deposited in the state general fund. (b) After the commissioner of the department of state revenue has made a certification under IC 21-35.5-1-4, the capital improvement board of managers may not distribute county food and beverage tax to the treasurer of state under subsection (a). SECTION 5. IC 6-9-12-8, AS AMENDED BY P.L.214-2005, SECTION 31, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 8. (a) The amounts received from the county food and beverage tax shall be paid monthly by the treasurer of the state to the treasurer of the capital improvement board of managers of 2015 7 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 AM127304/DI 73 the county or its designee upon warrants issued by the auditor of state. Except as provided in subsection (b), so long as there are any current or future obligations owed by the capital improvement board of managers to the Indiana stadium and convention building authority created by IC 5-1-17 or any state agency pursuant to a lease or other agreement entered into between the capital improvement board of managers and the Indiana stadium and convention building authority or any state agency under IC 5-1-17-26, the capital improvement board of managers or its designee shall deposit the revenues received from that portion of the county food and beverage tax imposed under: (1) section 5(a) of this chapter for revenue received after December 31, 2027; and (2) section 5(b) of this chapter; in a special fund, which may be used only for the payment of the obligations described in this section. (b) Subject to subsection (c), the capital improvement board of managers may adopt a resolution to distribute to the treasurer of state all or part of the county food and beverage tax collected at: (1) the Michael A. Carroll Track and Soccer Stadium; or (2) a hotel that is: (A) opened after July 1, 2015; and (B) located at the southeast corner of the intersection of Illinois Street and Market Street in Indianapolis; if the capital improvement board of managers determines that such county food and beverage tax is not needed to pay obligations owed by the capital improvement board of managers and that the distribution of such county food and beverage tax to the treasurer of state will not impair the rights and remedies of holders of any bonds or other obligations. All county food and beverage tax distributed to the treasurer of state under this subsection shall be deposited in the state general fund. (c) After the commissioner of the department of state revenue has made a certification under IC 21-35.5-1-4, the capital improvement board of managers may not distribute county food and beverage tax to the treasurer of state under subsection (b). SECTION 6. IC 6-9-13-1, AS AMENDED BY P.L.214-2005, SECTION 32, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 1. (a) Except as provided in subsection subsections (b) and (c), the city-county council of a county that contains a consolidated first class city may adopt an ordinance to 2015 8 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 AM127304/DI 73 impose an excise tax, known as the county admissions tax, for the privilege of attending, before January 1, 2041, any event and, after December 31, 2040, any professional sporting event: (1) held in a facility financed in whole or in part by: (A) bonds or notes issued under IC 18-4-17 (before its repeal on September 1, 1981), IC 36-10-9, or IC 36-10-9.1; or (B) a lease or other agreement under IC 5-1-17; and (2) to which tickets are offered for sale to the public by: (A) the box office of the facility; or (B) an authorized agent of the facility. (b) Except as provided in subsections (a) and (c), if bonds have been issued under IC 21-35.5, the county admission tax under this chapter is also imposed on the privilege of attending professional sports events at the Michael A. Carroll Track and Soccer Stadium. The county admission tax under this subsection applies to transactions after the last day of the month in which the trustees of Indiana University have made a certification under IC 21-35.5-1-3, if the date of issuance of the bonds as certified to the Marion County city-county council is on or before the fifteenth day of a month. If the date of issuance of the bonds as certified to the Marion County city-county council is after the fifteenth day of a month, the tax applies to transactions after the last day of the month following the month in which the trustees of Indiana University make the certification under IC 21-35.5-1-3. (b) (c) The excise tax imposed under subsection subsections (a) and (b) does not apply to the following: (1) An event sponsored by an educational institution or an association representing an educational institution. (2) An event sponsored by a religious organization. (3) An event sponsored by an organization that is considered a charitable organization by the Internal Revenue Service for federal tax purposes. (4) An event sponsored by a political organization. (c) (d) If a city-county council adopts an ordinance under subsection (a) or (b), it shall immediately send a certified copy of the ordinance to the commissioner of the department of state revenue. (d) (e) If a city-county council adopts an ordinance under subsection (a) or section 2 of this chapter prior to June 1, the county admissions tax applies to admission charges collected after June 30 of the year in which the ordinance is adopted. If the city-county council adopts an 2015 9 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 AM127304/DI 73 ordinance under subsection (a) or section 2 of this chapter on or after June 1, the county admissions tax applies to admission charges collected after the last day of the month in which the ordinance is adopted. SECTION 7. IC 6-9-13-2, AS AMENDED BY P.L.205-2013, SECTION 132, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 2. (a) Except as provided in subsection (b), the county admissions tax equals five percent (5%) of the price for admission to any event described in section 1 of this chapter. (b) On or before June 30, 2005, the city-county council may, by ordinance adopted by a majority of the members elected to the city-county council, increase the county admissions tax from five percent (5%) to six percent (6%) of the price for admission to any event described in section 1 of this chapter. (c) After January 1, 2013, and before March 1, 2013, the city-county council may, by ordinance adopted by a majority of the members elected to the city-county council, increase the county admissions tax rate by not more than four percent (4%) of the price for admission to any event described in section 1 of this chapter. If the city-county council adopts an ordinance under this subsection: (1) the city-county council shall immediately send a certified copy of the ordinance to the commissioner of the department of state revenue; and (2) the tax applies to transactions after the last day of the month in which the ordinance is adopted, if the city-county council adopts the ordinance on or before the fifteenth day of a month. If the city-county council adopts the ordinance after the fifteenth day of a month, the tax applies to transactions after the last day of the month following the month in which the ordinance is adopted. The increase in the tax imposed under this subsection continues in effect unless the increase is rescinded. However, any increase in the tax rate under this subsection may not continue in effect after February 28, 2023. (d) The amount collected from that portion of the county admissions tax imposed under: (1) subsection (a) and collected after December 31, 2027; and (2) subsection (b); shall be distributed to the capital improvement board of managers or its designee. So long as there are any current or future obligations owed 2015 10 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 AM127304/DI 73 by the capital improvement board of managers to the Indiana stadium and convention building authority created by IC 5-1-17 or any state agency pursuant to a lease or other agreement entered into between the capital improvement board of managers and the Indiana stadium and convention building authority or any state agency under IC 5-1-17-26, the capital improvement board of managers or its designee shall deposit the revenues received from that portion of the county admissions tax imposed under subsection (b) in a special fund, which may be used only for the payment of the obligations described in this subsection. (e) The amount collected from an increase adopted under subsection (c) shall be deposited in the sports and convention facilities operating fund established by IC 36-7-31-16. (f) If the county admission tax is imposed under section 1(b) of this chapter on the privilege of attending professional sporting events at the Michael A. Carroll Track and Soccer Stadium, the county admission tax equals ten percent (10%) of the price for admission to such an event. The following apply notwithstanding section 5 of this chapter: (1) Except as provided in subdivision (2), the amount collected from the county admission tax imposed under section 1(b) of this chapter shall be deposited in the state general fund and shall not be distributed to the capital improvement board of managers. The department of state revenue shall separately account for the amounts collected from the county admission tax imposed under section 1(b) of this chapter and deposited in the state general fund. (2) Subject to subdivision (3), after the commissioner of the department of state revenue makes a certification under IC 21-35.5-1-4, the amount collected from the county admission tax imposed under section 1(b) of this chapter shall be distributed as provided in section 5 of this chapter. (3) The county admission tax imposed under section 1(b) of this chapter expires at the end of the year in which the commissioner of the department of state revenue makes a certification under IC 21-35.5-1-4, unless the city-county council adopts an ordinance to continue the county admission tax imposed under section 1(b) of this chapter. SECTION 8. IC 21-35.5 IS ADDED TO THE INDIANA CODE AS A NEW ARTICLE TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: 2015 11 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 AM127304/DI 73 ARTICLE 35.5. ISSUANCE OF BONDS FOR CERTAIN CAPITAL IMPROVEMENTS Chapter 1. Issuance of Bonds Sec. 1. (a) Subject to the requirements of this chapter, the trustees of Indiana University may issue and sell bonds to acquire, erect, construct, reconstruct, improve, rehabilitate, remodel, repair, complete, extend, or enlarge capital improvements at the Michael A. Carroll Track and Soccer Stadium to facilitate the holding of professional, collegiate, high school, or amateur sporting events. (b) The sum of the principal costs of any bonds issued under this section, excluding amounts necessary to provide money for debt service reserves, credit enhancement, or other costs incidental to the issuance of the bonds, may not exceed twenty million dollars ($20,000,000). Sec. 2. The trustees of Indiana University may not issue bonds under this chapter unless all of the following requirements are satisfied: (1) The bond issuance has been reviewed by the budget committee. (2) The director of the budget agency has approved the bond issuance. (3) A lease agreement for at least twenty (20) years has been entered into by Indiana University and a professional soccer team concerning the use of the Michael A. Carroll Track and Soccer Stadium by the professional soccer team. However, the lease agreement may contain a buy-out provision that allows the professional soccer team to terminate the lease agreement upon the payment of consideration as specified in the lease agreement. Sec. 3. If bonds are issued under this chapter, the trustees of Indiana University shall certify the date of the issuance to the budget committee, the budget agency, the trustees of Indiana University, and the Marion County city-county council. Sec. 4. (a) As used in this section, "qualified hotel" means a hotel that is: (1) opened after July 1, 2015; and (2) located at the southeast corner of the intersection of Illinois Street and Market Street in Indianapolis. (b) If the commissioner of the department of state revenue 2015 12 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 AM127304/DI 73 determines that the sum of: (1) all state gross retail and use taxes collected that are attributable to retail transactions at the Michael A. Carroll Track and Soccer Stadium or a qualified hotel and are deposited in the state general fund; (2) all adjusted gross income taxes collected that are attributable to income earned at the Michael A. Carroll Track and Soccer Stadium or a qualified hotel; (3) all county option income tax deposited in the state general fund under IC 6-3.5-6-17(m); (4) all county innkeeper's taxes that are: (A) imposed under IC 6-9-8; (B) distributed by the capital improvement board of managers to the treasurer of state; and (C) deposited in the state general fund under IC 6-9-8-5(a); (5) all county food and beverage taxes that are: (A) imposed under IC 6-9-12; (B) distributed by the capital improvement board of managers to the treasurer of state; and (C) deposited in the state general fund under IC 6-9-12-8(b); and (6) all county admission taxes that are: (A) imposed under IC 6-9-13-1(b); and (C) deposited in the state general fund; equals the total amount of principal and interest payments to be made on the bonds issued under this section, the commissioner of the department of state revenue shall certify that determination to the budget committee, the budget agency, the trustees of Indiana University, and the Marion County city-county council. Sec. 5. To the extent that the costs of acquiring, erecting, constructing, reconstructing, improving, rehabilitating, remodeling, repairing, completing, extending, or enlarging capital improvements at the Michael A. Carroll Track and Soccer Stadium exceed the sum of: (1) twenty million dollars ($20,000,000); plus (2) any amounts paid or contributed by the city of Indianapolis for those purposes; the professional soccer team or the professional soccer league in which the professional soccer team competes (or both) must pay those excess costs. 2015 13 1 2 3 4 5 6 7 8 9 10 11 12 13 AM127304/DI 73 SECTION 9. [EFFECTIVE JULY 1, 2015] (a) There is appropriated from the state general fund to Indiana University one million five hundred thousand dollars ($1,500,000) for fee replacement for the state fiscal year beginning July 1, 2015, and ending June 30, 2016. (b) There is appropriated from the state general fund to Indiana University one million five hundred thousand dollars ($1.500,000) for fee replacement for the state fiscal year beginning July 1, 2016, and ending June 30, 2017. (c) This SECTION expires June 30, 2017.". Delete pages 2 through 36. Page 37, delete lines 1 through 32. Renumber all SECTIONS consecutively. (Reference is to HB 1273 as reprinted February 25, 2015.) 2015