CHAPTER 14. DONATIONS
IC 36-1-14
Chapter 14. Donations
IC 36-1-14-1
Requirements for donations to foundations; exception
Sec. 1. (a) This section does not apply to donations of gaming
revenue to a public school endowment corporation under
IC 20-47-1-3.
(b) As used in this section, "gaming revenue" means either of the
following:
(1) Tax revenue received by a unit under IC 4-33-12-6,
IC 4-33-13, or an agreement to share a city's or county's part of
the tax revenue.
(2) Revenue received by a unit under IC 4-35-8.5 or an
agreement to share revenue received by another unit under
IC 4-35-8.5.
(c) Notwithstanding IC 8-1.5-2-6(d), a unit may donate the
proceeds from the sale of a utility or facility or from a grant, a gift,
a donation, an endowment, a bequest, a trust, or gaming revenue to
a foundation under the following conditions:
(1) The foundation is a charitable nonprofit community
foundation.
(2) The foundation retains all rights to the donation, including
investment powers.
(3) The foundation agrees to do the following:
(A) Hold the donation as a permanent endowment.
(B) Distribute the income from the donation only to the unit
as directed by resolution of the fiscal body of the unit.
(C) Return the donation to the general fund of the unit if the
foundation:
(i) loses the foundation's status as a public charitable
organization;
(ii) is liquidated; or
(iii) violates any condition of the endowment set by the
fiscal body of the unit.
As added by P.L.313-1995, SEC.1. Amended by P.L.17-2000, SEC.2;
P.L.1-2005, SEC.236; P.L.231-2005, SEC.51; P.L.1-2006, SEC.558;
P.L.2-2006, SEC.190; P.L.142-2009, SEC.32.
IC 36-1-14-2
Income from community foundation
Sec. 2. A unit may use income received under this chapter from
a community foundation only for purposes of the unit.
As added by P.L.313-1995, SEC.1.