Ind. tapped $10M for damaged homes for bioscience

By: NewsCenter 16 Email
By: NewsCenter 16 Email

INDIANAPOLIS A state lawmaker concerned about Indiana's recent move to dip into a fund set aside for repairs to homes damaged by soils shifting above old coal mines wants the state's insurance commissioner to lower the premiums homeowners in the state's coal country pay into that fund.

Indiana's 2-year budget passed in April included a provision transferring $10 million from the Indiana Mine Subsidence Insurance Fund to Indiana's general fund.

That money transferred July 1 helped finance the Legislature's $25 million commitment to the new Indiana Biosciences Research Institute.

State Rep. Ron Bacon supported that provision. But the southwestern Indiana Republican says he'll urge Indiana's insurance commissioner to lower the premiums that homeowners in 26 coal-producing counties pay into the fund through policies protecting their homes from damage from abandoned mines.

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