Economic development for a growing economy fund; use;
investments; appropriations
Sec. 26. (a) The economic development for a growing economy
fund is established to be used exclusively for the purposes of this
chapter and IC 6-3.1-26, including paying for the costs of
administering this chapter and IC 6-3.1-26. The fund shall be
administered by the corporation.
(b) The fund consists of collected fees, appropriations from the
general assembly, and gifts and grants to the fund.
(c) 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 fund.
(d) 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 to be used
exclusively for the purposes of this chapter. Expenditures from the
fund are subject to appropriation by the general assembly and
approval by the budget agency.
As added by P.L.41-1994, SEC.1. Amended by P.L.224-2003,
SEC.193; P.L.4-2005, SEC.84.
Last modified: May 28, 2006