Indiana Statutes
§ 5-28-24-9 — Establishment and purpose of investment incentive fund; administration
Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 28 INDIANA ECONOMIC DEVELOPMENT·Ch. 24 Investment Incentive Program
(a)The investment incentive fund is
established within the state treasury to provide grants and loans to
counties and municipalities.
(b)The fund consists of appropriations from the general assembly
and loan repayments.
(c)The corporation shall administer the fund. The following may be
paid from money in the fund:
(1)Expenses of administering the fund.
(2)Nonrecurring administrative expenses incurred to carry out the
purposes of this chapter.
(d)Earnings from loans made under this chapter shall be deposited
the fund.
(e)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 state general fund.
Free access — add to your briefcase to read the full text and ask questions with AI
Indiana § 5-28-24-9 (Establishment and purpose of investment incentive fund; administration) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
As added by P.L.4-2005, SEC.34.
Nearby Sections
15
§ 5-1-1-1
Validation§ 5-1-1-2
Repealed§ 5-1-10-1
Issuance; purpose; restrictions§ 5-1-11-7
Restrictions on powers§ 5-1-11.5-1
"ADM"§ 5-1-11.5-2
"Bonds"§ 5-1-11.5-3
Application to certain school corporations§ 5-1-12-1
"Municipal corporation" defined