- (a) The economic development fund is established within the state treasury. The fund is a revolving fund to provide grants and loans for economic development activities in Indiana for the purposes of this chapter.
- (b) The fund consists of appropriations from the general assembly and loan repayments.
(c) The corporation shall administer the fund. 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.
- (f) Money in the fund is continuously appropriated for the purposes of this chapter.
As added by P.L.4-2005, SEC.34. Amended by P.L.201-2023, SEC.86.