Indiana § 4-12-1-15.7 State tuition reserve account

Indiana Statutes

§ 4-12-1-15.7 — State tuition reserve account

Indiana § 4-12-1-15.7

Art. 12APPROPRIATIONS MANAGEMENT

Ch. 1The Budget Agency

This text of Indiana § 4-12-1-15.7 (State tuition reserve account) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 4-12-1-15.7 (2026).

Text

7.

(a)As used in this section, "account" refers to the state tuition reserve account.

(b)The state tuition reserve account is established for the following purposes:

(1)To fund a tuition support distribution under IC 20-43 whenever the budget director determines that state general fund cash balances are insufficient to cover the distribution.

(2)To meet revenue shortfalls whenever the budget director, after review by the budget committee, determines that state tax revenues available for deposit in the state general fund will be insufficient to fully fund tuition support distributions under IC 20-43 in any particular state fiscal year.

(c)The account consists of the following:

(1)Money appropriated to the account by the general assembly.

(2)Money transferred to the account under any

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7. (a) As used in this section, "account"
refers to the state tuition reserve account.
(b) The state tuition reserve account is established for the following
purposes:
(1) To fund a tuition support distribution under IC 20-43
whenever the budget director determines that state general fund
cash balances are insufficient to cover the distribution.
(2) To meet revenue shortfalls whenever the budget director, after
review by the budget committee, determines that state tax
revenues available for deposit in the state general fund will be
insufficient to fully fund tuition support distributions under IC 20-43 in any particular state fiscal year.
(c) The account consists of the following:
(1) Money appropriated to the account by the general assembly.
(2) Money transferred to the account under any law.
(3) Interest earned on the balance of the account.
(d) The treasurer of state shall invest the money in the account not
currently needed to meet the obligations of the account in the same
manner as other public money may be invested. Interest that accrues
from these investments shall be deposited in the account.
(e) Money in the account at the end of a state fiscal year does not
revert for any other purpose of the state general fund.
(f) The budget agency shall administer the account. Whenever the
budget director makes a determination under subsection (b)(1) or
(b)(2), the budget agency shall notify the state comptroller of the
amount from the account to be used for state tuition support
distributions. The state comptroller shall transfer the amount from the
account to the state general fund. The amount transferred may be used
only for the purposes of making state tuition support distributions
under IC 20-43. If the amount is transferred under subsection (b)(1),
the amount shall be repaid to the account from the state general fund
before the end of the state fiscal year in which the transfer is made.