- (a) The motorsports improvement fund is established within the state treasury. The fund is a revolving fund to provide grants and low-interest loans for enhancing the development of the motorsports industry in Indiana.
- (b) The fund consists of amounts appropriated by the general assembly.
(c) The corporation shall administer the fund. In addition to grants and loans, the following may be paid from money in the fund:
- (1) Expenses of administering the fund.
- (2) Nonrecurring administrative expenses incurred to carry out the purposes of this chapter.
- (d) Earnings from loans made under this chapter shall be deposited in the fund.
- (e) 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.
As added by P.L.233-2013, SEC.6. Amended by P.L.213-2015, SEC.73.