§ 8-21-11-5 — Program to foster airport development; components; rules

Indiana § 8-21-11-5

• Jurisdiction: Indiana
• Art. 21: AERONAUTICS
• Ch. 11: Airport Development Program

Text

(a) The department shall adopt rules under IC 4-22-2 to establish a program to foster airport development in Indiana
with special emphasis on improvement of airports as an economic
development tool. The program must include the following
components:
(1) State grants to airports from the grant fund to match federal
Aviation Trust Fund grants.
(2) State grants to airports from the grant fund for airport
development projects for which federal grants are not available.
(3) Loans to airports from the loan fund for airport development
projects.
(b) The rules must establish the following for both grants and loans:
(1) Standards of eligibility.
(2) The maximum amount of money for which any one (1) airport
or airport development project is eligible.
(3) Application procedures.
(4) The local matching funds that are required.
(5) In determining the amount of the match for a state grant for
which federal grants are not available as described in subsection
(a)(2), the department shall:
(A) consider the airport classification and the type of project;
and
(B) require matching funds of at least twenty-five percent
(25%).
(6) Other provisions to administer the grant and loan programs.

Legislative History

As added by P.L.34-1990, SEC.2. Amended by P.L.123-2023, SEC.1.