§ 5-28-8-5 — Fund established; purpose

Indiana § 5-28-8-5

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 28: INDIANA ECONOMIC DEVELOPMENT
• Ch. 8: Economic Development Fund

Text

(a) The economic development fund is
established within the state treasury. The fund is a revolving fund to
provide grants and loans for economic development activities in
Indiana for the purposes of this chapter.
(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
in the fund.
(e) The 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) Money in the fund is continuously appropriated for the purposes
of this chapter.

Legislative History

As added by P.L.4-2005, SEC.34. Amended by P.L.201-2023, SEC.86.