The ISA shall do the following:

1. (1) Employ personnel and contract for services that are necessary for the proper implementation of this chapter.
2. (2) Bond the ISA treasurer and such other persons as necessary to ensure adequate protection of funds received and administered by the ISA.
3. (3) Authorize the expenditure of funds and the contracting of expenditures to conduct proper activities under this chapter.
4. (4) Annually establish priorities and prepare and approve a budget consistent with the estimated resources of the ISA and the scope of this chapter.

5. (5) Annually provide:

   1. (A) an activities report to the legislative council in an electronic format under IC 5-14-6 ; and
   2. (B) an independent audit report to the state board of accounts.
6. (6) Procure and evaluate data and information necessary for the proper implementation of this chapter.
7. (7) Formulate and execute assessment procedures and methods of collection.
8. (8) Receive and investigate complaints and violations of this chapter.
9. (9) Take necessary enforcement action against individuals who violate this chapter.
10. (10) Maintain bylaws and operating procedures governing operations of the ISA and the administration of funds collected under this chapter.
11. (11) Keep accurate accounts of all receipts and disbursements of funds handled by the ISA and have the receipts and disbursements audited annually by a certified public accountant.
12. (12) Take any other action necessary for the proper implementation of this chapter.
13. (13) Comply with the requirements under IC 5-14-1.5 .

As added by P.L.8-2026, SEC.1.