Indiana § 5-28-11.5-9 Local economic development organization recruitment fund
established; uses; revenue sources; administration; investments;
nonreverting fund

Indiana Statutes

§ 5-28-11.5-9 — Local economic development organization recruitment fund established; uses; revenue sources; administration; investments; nonreverting fund

Indiana § 5-28-11.5-9

Title 5STATE AND LOCAL ADMINISTRATION

Art. 28INDIANA ECONOMIC DEVELOPMENT

Ch. 11.5New Business Recruitment Grants for Local

This text of Indiana § 5-28-11.5-9 (Local economic development organization recruitment fund established; uses; revenue sources; administration; investments; nonreverting fund) 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 § 5-28-11.5-9 (2026).

Text

(a)The local economic development organization recruitment fund is established within the state treasury as a dedicated fund. Money in the fund must be spent by the corporation exclusively for grants and other purposes described in this chapter.

(b)The fund consists of:

(1)appropriations from the general assembly;

(2)interest deposited into the fund under subsection (d); and

(3)any money available for the purposes of this chapter from Indiana's apportionment of general state assistance grants provided to the states under the federal American Recovery and Reinvestment Act of 2009 or another federal economic stimulus law enacted in 2009.

(c)The corporation shall administer the fund. The following may be paid from money in the fund:

(1)Grants made under this chapter.

(2)Expenses of ad

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(a) The local economic development
organization recruitment fund is established within the state treasury as
a dedicated fund. Money in the fund must be spent by the corporation
exclusively for grants and other purposes described in this chapter.
(b) The fund consists of:
(1) appropriations from the general assembly;
(2) interest deposited into the fund under subsection (d); and
(3) any money available for the purposes of this chapter from
Indiana's apportionment of general state assistance grants
provided to the states under the federal American Recovery and
Reinvestment Act of 2009 or another federal economic stimulus
law enacted in 2009.
(c) The corporation shall administer the fund. The following may be
paid from money in the fund:
(1) Grants made under this chapter.
(2) Expenses of administering the fund.
(3) The corporation's nonrecurring administrative expenses
incurred to carry out the purposes of this chapter.
(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) Money remaining in the fund at the end of a state fiscal year
does not revert to the state general fund.