State lawmakers have given their final approval to legislation that creates funding plans for most of a $360 million renovation of Bankers Life Fieldhouse and the construction of a $150 million soccer stadium for the Indy Eleven.
State lawmakers are done making changes to legislation that would provide millions in additional revenue to the Capital Improvement Board, help keep the Indiana Pacers in Indianapolis for the next 25 years and potentially support a permanent soccer stadium for the Indy Eleven.
Legislation that will help fund a renovation of Bankers Life Fieldhouse will do much more: It will bail out the Capital Improvement Board, which is headed for insolvency without the additional revenue.
The Senate version of the two-year, $34.6 billion budget allocates $22 million per year for the state's 21st Century Research and Technology Fund. That’s $8 million less per year than in the current budget.