§ 36-7-25-7 — Contracts with eligible entities for educational and training programs

(a) As used in this section, "eligible entity"
means a person whose principal functions include the provision of:
(l) educational programs;
(2) work training programs;
(3) worker retraining programs;
(4) marketing and advertising of land located in an allocation
area; or
(5) any other programs;
designed to prepare individuals to participate in the competitive and
global economy.
(b) After making the findings set forth in subsection (c), a
commission, or two (2) or more commissions acting jointly, may
contract with an eligible entity to provide:
(1) educational programs;
(2) work training programs;
(3) worker retraining programs;
(4) marketing and advertising of land located in an allocation
area; or
(5) any other programs;
designed to prepare individuals to participate in the competitive and
global economy.
(c) Before a commission may contract for a program described in
subsection (b), the commission must find that the program will promote
the redevelopment and economic development of the unit, is of utility
and benefit, and is in the best interests of the unit's residents.
(d) Except as provided in subsection (e), a commission may use any
revenues legally available to the commission to fund a program
described in subsection (b).
(e) A commission may not spend:
(1) bond proceeds; or
(2) more than fifteen percent (15%) of the allocated tax proceeds
it receives on an annual basis;
to fund a program described in subsection (b). However, of the amount
available under subdivision (2), not more than seven and one-half
percent (7.5%) of that amount may be used for a use described in
subsection (b)(4).

Legislative History

As added by P.L.182-2009(ss), SEC.513. Amended by P.L.46-2022, SEC.2.