§ 21-12-8-1 — Adult student grant fund; administration; adult student grant; high value workforce ready credit-bearing grant

(a) The adult student grant fund is established
to make awards authorized under this chapter to applicants eligible for:
(1) an adult student grant under section 3 of this chapter; or
(2) a high value workforce ready credit-bearing grant under
section 9 of this chapter.
(b) The fund consists of the following:
(1) Appropriations made by the general assembly.
(2) Gifts, grants, devises, or bequests made to the state to achieve
the purposes of the fund.
(3) Amounts transferred to the fund as directed by the
commission under IC 21-12-1.2-2.
(c) The fund shall be administered by the commission.
(d) The expenses of administering the fund shall be paid from
money in the fund.
(e) The fund must be separate and distinct from other funds
administered by the commission.
(f) 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 are invested.
(g) Money in the fund at the end of a state fiscal year does not revert
to the state general fund but remains available to be used for providing
money for adult student grants under this chapter, or it may be
transferred to another fund under this article as directed by the
commission under IC 21-12-1.2-2.
[Pre-2007 Higher Education Recodification Citation:
20-12-22.1-8.]

Legislative History

As added by P.L.2-2007, SEC.253. Amended by P.L.234-2007, SEC.53; P.L.234-2015, SEC.15; P.L.165-2016, SEC.13; P.L.230-2017, SEC.26.