§ 20-24-12-4 — Fund

Indiana § 20-24-12-4

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 24: CHARTER SCHOOLS
• Ch. 12: Charter School Facilities Assistance Program

Text

(a) The charter school facilities assistance
fund is established. The department shall administer the fund.
(b) The fund consists of the following:
(1) Money appropriated or authorized by the general assembly.
(2) The repayment proceeds of loans made to charter schools from
the fund.
(3) Any gifts and grants made to the fund or other money required
by law to be deposited in the fund.
(4) Any federal grants that are received to capitalize or
supplement the fund.
(5) Any earnings on money in the fund.
(c) The expenses of administering the fund shall be paid from
money in the fund.
(d) The treasurer of state shall invest the money in the fund not
currently needed to meet the obligations of the fund in the same
manner as other public funds may be invested.
(e) The fund may be used by the department as a revolving fund for
the purposes described in section 2 of this chapter.
(f) Money in the fund at the end of a state fiscal year does not revert
to the state general fund.

Legislative History

As added by P.L.91-2011, SEC.25.