§ 4-23-5.5-15 — Energy efficiency loan fund

Indiana § 4-23-5.5-15

• Jurisdiction: Indiana
• Art. 23: BOARDS AND COMMISSIONS
• Ch. 5.5: Indiana Recycling Market Development Board

Text

(a) The Indiana energy efficiency loan fund
is established for the purpose of assisting Indiana industries and
governing bodies (as defined in IC 36-1-12.5-1.5) in undertaking
energy efficiency projects. The fund shall be administered by the board.
(b) Sources of money for the fund consist of the following:
(1) Appropriations from the general assembly.
(2) Repayment proceeds, including interest, of loans made from
the fund.
(3) Donations, gifts, and money received from any other source,
including transfers from other funds or accounts.
(c) Money remaining in the fund at the end of a state fiscal year
does not revert to the state general fund.
(d) 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 may be invested. Interest that accrues
from these investments shall be deposited in the fund.
(e) The board shall establish:
(1) amounts, terms, and interest rates for loans under this section;
and
(2) criteria for awarding loans under this section.
(f) A person, business, governing body, or manufacturer that wants
a loan from the fund must file an application in the manner prescribed
by the board.

Legislative History

As added by P.L.24-1993, SEC.2. Amended by P.L.227-1999, SEC.11.