§ 20-51.4-4.5-5.3 — Career scholarship account donation fund; administration of the fund

Indiana § 20-51.4-4.5-5.3

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 51.4: INDIANA EDUCATION SCHOLARSHIP
• Ch. 4.5: Career Scholarship Account Program Fund and

Text

Note: This version of section effective until 7-1-2026. See also
following version of this section, effective 7-1-2026.
Sec. 5.3. (a) The career scholarship account
donation fund is established for the purpose of accepting donations for
the career scholarship account program to support administration of the
program.
(b) The treasurer of state shall administer the fund.
(c) The fund consists of the following:
(1) Donations, gifts, and money received from any other source,
including transfers from other funds or accounts.
(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) The treasurer of state may transfer any funds held in the fund to
the career scholarship account program fund established by section 4
of this chapter at any time for the purpose of that fund.
(f) Money in the fund is continuously appropriated for purposes of
the fund.
(g) Money in the fund at the end of a state fiscal year does not revert
to the state general fund but remains in the fund for the purposes of the
fund.

Legislative History

As added by P.L.202-2023, SEC.62.