§ 15-12-2-3 — Agreements for federal administration

(a) The director may enter into agreements
with the United States Secretary of Agriculture under Section 2(f) of
Public Law 499, 81st Congress, upon the terms and conditions and for
periods as may be mutually agreeable, authorizing the United States
Secretary of Agriculture to accept, administer, expend, and use in
Indiana all or any part of the trust assets or any other funds of the state
of Indiana that may be appropriated to use in carrying out the purposes
of Titles 1 and 2 of the Bankhead-Jones Farm Tenant Act, in
accordance with the applicable provisions of Title 4 of the
Bankhead-Jones Farm Tenant Act, as amended.
(b) The director shall provide in an agreement with the United
States Secretary of Agriculture under this section:
(1) that all of the funds shall be administered through the Farmer's
Home Administration;
(2) that only three percent (3%) of the book value of the assets
transferred may be used for administrative purposes; and
(3) that the Farmer's Home Administration may do any and all
things necessary to effectuate and carry out the purposes of
agreements under this section.
[Pre-2008 Recodification Citation: 15-7-2-2.]

Legislative History

As added by P.L.2-2008, SEC.3.