Indiana § 5-28-24-4 Loans to businesses by counties and municipalities; criteria; approval
of loans by corporation

Indiana Statutes

§ 5-28-24-4 — Loans to businesses by counties and municipalities; criteria; approval of loans by corporation

Indiana § 5-28-24-4

Title 5STATE AND LOCAL ADMINISTRATION

Art. 28INDIANA ECONOMIC DEVELOPMENT

Ch. 24Investment Incentive Program

This text of Indiana § 5-28-24-4 (Loans to businesses by counties and municipalities; criteria; approval of loans by corporation) 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 § 5-28-24-4 (2026).

Text

(a)The corporation shall establish criteria to guide counties and municipalities in making loans to businesses.

(b)The terms of the loans must include provisions stating that:

(1)loans shall be restricted to enterprises that create new and permanent jobs;

(2)loans may not exceed the greater of:

(A)ten percent (10%) of the total investment; or

(B)two hundred fifty thousand dollars ($250,000); and

(3)the principal and interest on the loan must be repaid to the county or municipality.

(c)All loans by a county or municipality under this chapter are subject to approval by the corporation.

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(a) The corporation shall establish criteria to
guide counties and municipalities in making loans to businesses.
(b) The terms of the loans must include provisions stating that:
(1) loans shall be restricted to enterprises that create new and
permanent jobs;
(2) loans may not exceed the greater of:
(A) ten percent (10%) of the total investment; or
(B) two hundred fifty thousand dollars ($250,000); and
(3) the principal and interest on the loan must be repaid to the
county or municipality.
(c) All loans by a county or municipality under this chapter are
subject to approval by the corporation.