Indiana § 5-28-25-4 Fund established; powers of corporation; administration

Indiana Statutes

§ 5-28-25-4 — Fund established; powers of corporation; administration

Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 28 INDIANA ECONOMIC DEVELOPMENT·Ch. 25 Industrial Development Grant Fund

(a)The industrial development grant fund is established within the state treasury. Grants may be made from the fund to eligible entities in accordance with this chapter and the rules adopted under this chapter.

(b)The corporation may receive and accept, for purposes of the fund, grants, gifts, and contributions from public and private sources, including, on behalf of the state, grants from agencies and instrumentalities of the United States.

(c)The fund consists of appropriations from the general assembly.

(d)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.

(e)Money in the fund at the end of a state fiscal year

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(a) The industrial development grant fund is
established within the state treasury. Grants may be made from the
fund to eligible entities in accordance with this chapter and the rules
adopted under this chapter.
(b) The corporation may receive and accept, for purposes of the
fund, grants, gifts, and contributions from public and private sources,
including, on behalf of the state, grants from agencies and
instrumentalities of the United States.
(c) The fund consists of appropriations from the general assembly.
(d) 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.
(e) Money in the fund at the end of a state fiscal year does not revert
to the state general fund but remains in the fund.
(f) 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.

Indiana § 5-28-25-4 (Fund established; powers of corporation; administration) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.