1. (a) On or before May 1, 2026, and each May 1 thereafter, the Indiana defense task force established by IC 4-3-21.5 shall submit a report to the corporation's office of defense development and the budget committee. The report shall identify the Indiana defense task force's identified priorities for expenditures for the state fiscal year beginning July 1 immediately following the report and shall separately account for any supplemental funding or appropriations received by the state that is allocated for those priorities.
2. (b) On or before August 1, 2027, and each August 1 thereafter, the corporation's office of defense development shall submit a report to the Indiana defense task force and the budget committee. The report shall detail expenditures from amounts appropriated to the corporation's office of defense development for priorities identified by the Indiana defense task force for the state fiscal year ending June 30 immediately preceding the report and shall separately account for any supplemental funding or appropriations received by the corporation that is allocated for those priorities.
3. (c) Beginning with the 2026-2027 state fiscal year and each state fiscal year thereafter, the corporation's office of defense development shall consider and incorporate, to the extent practicable, the Indiana defense task force's priorities for expenditures when formulating its annual budget.

As added by P.L.87-2026, SEC.4.