§ 5-28-42-7 — Establishment of fund; purpose

(a) The small business restart grant fund is
established. The corporation shall administer the fund.
(b) The fund shall be used to award grants to eligible entities in
accordance with this chapter.
(c) The fund consists of:
(1) appropriations by the general assembly;
(2) money received from any state or federal grants or programs,
including any federal grant or program enacted to provide
economic relief in response to the coronavirus disease
(COVID-19) pandemic; and
(3) grants, gifts, and donations intended for deposit in the fund,
including transfers from other accounts or funds.
(d) The expenses of administering the fund shall be paid from
money in the fund.
(e) Money in the fund at the end of a state fiscal year that was
allotted to the fund from a federal grant or program reverts to the state
general fund only to the extent allowed by federal law.
(f) To the extent possible, the corporation shall award grants using
funds received from a federal grant or program before using funds
appropriated from the state general fund.

Legislative History

As added by P.L.82-2021, SEC.1.