1. (a) The authority shall do the following under this chapter:

   1. (1) Be responsible for the management of all aspects of the program.
   2. (2) Prepare and provide program information.
   3. (3) Negotiate the negotiable aspects of each financial assistance agreement and submit the agreement to the budget agency for approval.
   4. (4) Sign each financial assistance agreement.
   5. (5) Review each proposed project and financial assistance agreement to determine if the project meets the credit, economic, or fiscal criteria established by guidelines of the authority.
   6. (6) Periodically inspect or cause to be inspected projects to determine compliance with this chapter.

   7. (7) Conduct or cause to be conducted an evaluation concerning the financial ability of a political subdivision to:

      1. (A) pay a loan or other financial assistance and other obligations evidencing loans or other financial assistance, if required to be paid; and
      2. (B) otherwise comply with terms of the financial assistance agreement.

   8. (8) Evaluate or cause to be evaluated the technical aspects of the political subdivision's:

      1. (A) environmental assessment of potential brownfield properties;
      2. (B) proposed remediation; and
      3. (C) remediation activities conducted on brownfield properties.
   9. (9) Inspect or cause to be inspected remediation activities conducted under this chapter.
   10. (10) Act as a liaison to the United States Environmental Protection Agency regarding the program.
   11. (11) Be a point of contact for political subdivisions concerning questions about the program.
   12. (12) Enter into memoranda of understanding, as necessary, with the department and the budget agency concerning the administration and management of the fund and the program.

2. (b) The authority may do the following under this chapter:

   1. (1) Undertake activities to make private environmental insurance products available to encourage and facilitate the cleanup and redevelopment of brownfield properties.

   2. (2) Enter into agreements with political subdivisions to manage any of the following conducted on brownfield properties:

      1. (A) Environmental assessment activities.
      2. (B) Environmental remediation activities.

3. (c) The authority may:

   1. (1) negotiate with;
   2. (2) select; and

   3. (3) contract with;

      one (1) or more insurers to provide insurance products as described in subsection (b)(1).

4. (d) Notwithstanding IC 13-23 , IC 13-24-1 , and IC 13-25-4 , the authority is not liable for any contamination addressed by the authority under an agreement under subsection (b)(2) unless existing contamination on the brownfield is exacerbated due to gross negligence or intentional misconduct by the authority.
5. (e) For purposes of subsection (d), reckless, willful, or wanton misconduct constitutes gross negligence.
6. (f) The authority is entitled to the same governmental immunity afforded a political subdivision under IC 34-13-3-3 (22) for any act taken to investigate or remediate hazardous substances, petroleum, or other pollutants associated with a brownfield under an agreement under subsection (b)(2).

As added by P.L.59-1997, SEC.13. Amended by P.L.28-2004, SEC.121; P.L.235-2005, SEC.173; P.L.221-2007, SEC.9; P.L.121-2009, SEC.3.