Mine safety fund; establishment; administration
Sec. 16. (a) The mine safety fund is established to provide funding
for the purchase and maintenance of underground mine rescue
equipment.
(b) The department of labor shall administer the fund.
(c) The fund consists of:
(1) assessments collected by the mining board under
IC 22-10-1.5-5(a)(5) and deposited into the fund; and
(2) interest from investments as accrued and deposited under
subsection (d).
(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 money may be invested. Interest that
accumulates from these investments shall be deposited into the fund.
(e) Money in the fund at the end of a state fiscal year does not
revert to the state general fund.
As added by P.L.187-2003, SEC.3.
Last modified: May 27, 2006