§ 20-51.4-4-3 — Indiana education scholarship account program fund; uses; administration

Indiana § 20-51.4-4-3

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 51.4: INDIANA EDUCATION SCHOLARSHIP
• Ch. 4: ESA Program Fund and Accounts

Text

Note: This version of section amended by P.L.201-2023, SEC.221,
effective until 7-1-2026. See also following version of this section
amended by P.L.202-2023, SEC.51, effective until 7-1-2026, and
following version of this section amended by P.L.213-2025, SEC.213,
effective 7-1-2026.
Sec. 3. (a) The Indiana education scholarship
account program fund is established for the purpose of providing grants
to eligible students under the program. Money appropriated to the fund
during the state fiscal year beginning July 1, 2021, and ending June 30,
2022, may only be used for the administrative costs to establish the
program. However, money appropriated to the fund during the state
fiscal year beginning July 1, 2022, and ending June 30, 2023, may be
used to provide grants under this chapter in the manner prescribed in
section 2 of this chapter.
(b) The treasurer of state shall administer the fund.
(c) The fund consists of the following:
(1) Appropriations by the general assembly.
(2) Interest deposited in the fund under subsection (d).
(d) The treasurer of state shall invest money in the fund not
currently needed to meet the obligations of the fund in the same
manner as other public money may be invested. Interest that accrues
from these investments shall be deposited in the fund.
(e) Money in the fund at the end of a state fiscal year reverts to the
state general fund.

Legislative History

As added by P.L.165-2021, SEC.180. Amended by P.L.132-2022, SEC.6; P.L.201-2023, SEC.221.