§ 5-33-6.5-8 — Statewide sports and tourism bid fund; administration; annual grant

Indiana § 5-33-6.5-8

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 33: INDIANA DESTINATION DEVELOPMENT
• Ch. 6.5: Statewide Sports and Tourism Bid Fund

Text

(a) The statewide sports and tourism bid fund
is established for the purpose of distributing funds in the form of a
grant to the Indiana Sports Corporation to be used by the Indiana Sports
Corporation:
(1) to organize and hold events; and
(2) to make grants to other eligible entities for the purpose of
organizing and holding events;
in Indiana.
(b) The fund consists of:
(1) appropriations from the general assembly; and
(2) grants, gifts, and donations intended for deposit in the fund.
(c) The corporation shall administer the fund.
(d) 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.
(e) Not later July 15 of the first year of the biennium, the
corporation shall distribute to the Indiana Sports Corporation a grant
amount equal to the amount appropriated by the general assembly to
the fund for the state fiscal year.

Legislative History

As added by P.L.58-2022, SEC.1.