Nonprofit investment measure advances despite prior veto

Bill would allow state treasurer to set up pool and payment system for nonprofits

Mar. 27, 2026 at 12:54am

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A previously vetoed measure that would allow the state treasurer to establish an investment pool and electronic payment system for nonprofit organizations has moved through committee and is advancing in the state legislature. The governor's prior veto message cited concerns about the Indiana Oath and other issues, but supporters are hopeful the new version will address those problems.

Why it matters

The bill is seen as an important step to help nonprofits more efficiently manage their finances and investments, but the governor's prior veto raised questions about potential constitutional and operational issues that will need to be resolved.

The details

House Bill 5045 would grant the state treasurer the authority to set up an investment pool and electronic payment system specifically for nonprofit organizations in the state. This is intended to provide nonprofits with more options and flexibility in how they handle their finances and investments. However, the governor previously vetoed a similar measure, citing concerns about the Indiana Oath and other potential problems that will need to be addressed in the new version of the bill.

  • The governor vetoed a previous version of the nonprofit investment measure in 2025.
  • House Bill 5045 has now moved through committee and is advancing in the state legislature in 2026.

The players

House Bill 5045

A measure that would allow the state treasurer to establish an investment pool and electronic payment system for nonprofit organizations.

The Governor

Previously vetoed a similar nonprofit investment measure, citing concerns about the Indiana Oath and other potential issues.

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What’s next

The new version of House Bill 5045 will need to address the governor's prior concerns in order to gain approval and be signed into law.

The takeaway

This bill represents an effort to provide more financial tools and flexibility for nonprofit organizations, but resolving the governor's previous objections will be crucial for the measure to ultimately succeed.