Indiana Senate bill could give IU $8M

A bill in the Indiana General Assembly would give IU some much-needed assistance on building repair and upkeep. \nUniversity leaders are keeping their eyes on three pieces of legislation proposed in the legislature this session, said J. Thomas Forbes, IU's executive director for state relations.\nA bill in the Indiana Senate proposes paying nearly $8 million in delayed appropriations for facility repair and restoration back to the University. A House bill would give IU more flexibility in issuing bonds to raise money for new buildings and large projects. A third bill would allow the board of trustees to officially meet via teleconference or other electronic means.\nSenate Bill 345, authored by Sen. Robert Meeks, R-LaGrange, proposes paying $20 million to state universities for upkeep and repair of facilities. Under the proposed bill, IU stands to gain the largest share -- $7.8 million spread across its eight campuses. \nBloomington's state Sen. Vi Simpson added herself as a co-author to the bill Thursday. \nIn his Jan. 11 State of the State speech, Indiana Gov. Mitch Daniels proposed giving $156 million in extra state tax revenue back to schools and local governments this year. The state offset a massive budget deficit in 2005 in part by delaying payments to those institutions. IU's repair and restoration fund also temporarily lost money under this plan.\nMeeks' bill is one extension of this policy. But, as Simpson points out, it gives money back to state universities -- something the governor did not specifically outline. Since IU-Bloomington also lost about $4.7 million in the 2004 state proportions, Simpson said the University and other state colleges need the money most.\nEven with this boost, the state would still owe IU more than $113 million for repair and restoration projects.\n"But every little bit helps," Forbes said. "We're not going to look $7.8 million in the mouth."\nHouse Bill 1162, authored by Rep. Lawrence Buell, R-Indianapolis, raises the amount of outstanding bonds for new technology state universities are allowed to issue without first getting approval from the General Assembly to $10 million from $1 million. \nUniversities and other state institutions sell bonds -- which are like loans -- to finance large projects. The universities must then pay the bonds back to the holders, with interest. IU is funding the construction of the forthcoming Multidisciplinary Science Building Phase II with $31.5 million in bonds.\nThe House bill would also double the amount in bonds that state universities may have outstanding for energy savings projects and upgrades to $20 million. \nForbes said the increased flexibility the bill would give IU would help the University finance new major research projects.\nStudents can contact their Bloomington representatives Matt Pierce and Peggy Welch in the Indiana House at (800)382-9842 and Simpson in the Indiana Senate at (800)382-9467.