Industrial rail service fund.

Authors: Representative Terry Goodin

Co-authors: Representative Steven Stemler, Representative Timothy Wesco


Increases the amount of state gross and retail and use taxes deposited into the industrial rail service fund (IRSF) from 0.029% to 0.099% of the taxes collected each year. Authorizes the Indiana department of transportation to make grants from the IRSF to reimburse a Class II or a Class III railroad for public safety expenditures. Provides that a grant from the IRSF to a Class II or a Class III railroad for the rehabilitation of railroad infrastructure or railroad construction may not exceed 20% of the gross sales and use tax receipts deposited in the IRSF in the previous state fiscal year.