1. (a) The ISA shall pay all expenses incurred under this chapter with money from the assessments remitted to the ISA under this chapter.
2. (b) The ISA may invest all money the ISA receives under this chapter, including gifts or grants that are given for the express purpose of implementing this chapter, in the same way allowed by law for public funds.
3. (c) The ISA may expend money from assessments and from investment income not needed for expenses for market development, promotion, and research.
4. (d) The ISA may not use money received, collected, or accrued under this chapter for any purpose other than the purposes authorized by this chapter. The amount of money expended on administering this chapter in the ISA's fiscal year may not exceed ten percent (10%) of the average amount of assessments, grants, and gifts received by the ISA as calculated under subsection (e).

5. (e) The ISA shall determine the amount that it may expend to administer this chapter using the following formula:

   STEP ONE: Determine the amount of assessments, grants, and gifts received by the ISA in each of the preceding five (5) fiscal years beginning with the immediately preceding fiscal year.

   STEP TWO: Determine the average annual amount of assessments, grants, and gifts received by the ISA in each fiscal year using three (3) of the five (5) fiscal years described in STEP ONE after excluding the two (2) years in which the amount of assessments, grants, and gifts received by the ISA were the highest and lowest totals.

   STEP THREE: Divide the amount in STEP TWO by ten (10).

   The amount in STEP THREE is the maximum amount that the ISA may expend on administering this chapter for the current fiscal year.

6. (f) When the board members of the ISA evaluate and approve expenditures, ISA board members shall:

   1. (1) emphasize programs that create opportunities and value for Indiana soybean farmers and their operations; and

   2. (2) prioritize collaborative projects with universities, states, and organizations that have:

      1. (A) a regional;
      2. (B) a national; or

      3. (C) an international;

         impact.

7. (g) The ISA shall use at least fifty percent (50%) of the funds collected from the assessment under subsection (a) for approved expenditures that meet the criteria set forth in subsection (f)(2).

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