§ 5-28-16-3 — Application for grant or loan from fund

Indiana § 5-28-16-3

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 28: INDIANA ECONOMIC DEVELOPMENT
• Ch. 16: Indiana Twenty-First Century Research and Technology

Text

(a) This section does not apply to a district
board (as defined in IC 5-28-15.5-1(2)) that is an applicant for a grant
under section 2(a)(5) of this chapter.
(b) An application requesting a grant or loan from the fund must be
targeted to one (1) or more of the areas listed in section 2 of this
chapter.
(c) A successful applicant for a grant or loan from the fund must
meet the requirements of this section and be approved by the board. An
application for a grant or loan from the fund must be made on an
application form prescribed by the corporation. An applicant shall
provide all information that the board finds necessary to make the
determinations required by this chapter.
(d) All applications for a grant or loan from the fund must include
the following:
(1) A fully elaborated technical research or business plan,
whichever applies, that is appropriate for review by outside
experts as provided in this chapter.
(2) A detailed financial analysis that includes the commitment of
resources by other entities that will be involved in the project.
(3) A statement of the economic development potential of the
project, such as:
(A) a statement of the way in which support from the fund will
lead to significantly increased funding from federal or private
sources and from private sector research partners; or
(B) a projection of the jobs to be created.
(4) The identity, qualifications, and obligations of the applicant.
(5) Any other information that the board considers appropriate.
An applicant for a grant or loan from the fund may request that certain
information that is submitted by the applicant be kept confidential.
However, an applicant's projection of the jobs to be created by a project
may not be kept confidential. The corporation shall make a
determination of confidentiality as soon as is practicable. If the
corporation determines that the information should not be kept
confidential, the applicant may withdraw the application, and the
corporation must return the information before making it part of any
public record.
(e) An application for a grant or loan from the fund submitted by an
academic researcher must be made through the office of the president
of the researcher's academic institution with the express endorsement
of the institution's president. An application for a grant or loan from the
fund submitted by a private researcher must be made through the office
of the highest ranking officer of the researcher's institution with the
express endorsement of the institution. Any other application must be
made through the office of the highest ranking officer of the entity
submitting the application. In the case of an application for a grant or
loan from the fund that is submitted jointly by one (1) or more
researchers or entities, the application must be endorsed by each
institution or entity as required by this subsection.

Legislative History

As added by P.L.4-2005, SEC.34. Amended by P.L.137-2012, SEC.11; P.L.145-2016, SEC.16; P.L.238-2017, SEC.6.