1. (a) For purposes of this section, "fund" refers to the convention, visitor, tourism promotion, and capital fund established under section 4(a)(2) of this chapter.
2. (b) The county treasurer shall deposit in the fund the amount of money received under section 3 of this chapter that is not more than five percent (5%).
3. (c) Money in the fund shall be expended only as provided in section 4(c) of this chapter.
4. (d) The commission may transfer money in the fund to any Indiana nonprofit corporation for the purpose of promotion and encouragement in the county of conventions, trade shows, visitors, or special events. The commission may transfer money under this subsection only after approving the transfer. The commission may transfer money under this subsection on a monthly basis or at another frequency as determined by the commission.

5. (e) The commission must approve any transfer of money from the fund and may transfer money from the fund to support capital projects in the county that promote long term tourism, convention, or recreation projects proposed by any of the following:

   1. (1) The county government.
   2. (2) A separate body corporate and politic in Hamilton County.

   3. (3) Any Indiana nonprofit corporation in Hamilton County.

      The commission may transfer money under this subsection on a monthly basis or at another frequency as determined by the commission.

6. (f) The commission may also review and approve proposals submitted by applicants that seek money from the fund with the purpose and view of enhancing or providing support for capital projects that promote long term tourism, convention, or other economic development related to recreation. Funding available under this subsection shall be made available on an annual basis. In determining whether to provide funding to a particular capital project under this subsection, the commission may use the following factors as a guide for capital project funding:

   1. (1) The proposed capital project is believed to be economically sound to the Hamilton County tourism, convention, or recreation economy and is also believed to be beneficial to:

      1. (A) the general population of Hamilton County; or
      2. (B) a particular location in Hamilton County.
   2. (2) The proposed capital project provides for reasonably adequate public assembly, gathering, or entertainment space and is integrally related to enhancing the tourism, convention, or recreation opportunities in Hamilton County or a particular location in Hamilton County.

   3. (3) The commission makes a reasonable effort to assess whether a proposed capital project aligns with the purpose of the commission and has a direct, indirect, or supportive relationship to the mission and promotional efforts of the commission as established and funded by the fund.

      Any remaining funds collected that are not awarded during an application period revert to the fund and may be used for distribution in a subsequent application period.

7. (g) An applicant that receives a grant of money from the fund under subsection (f):

   1. (1) must agree to provide to the commission proof of project completion, including proof that the project was completed through the use of the grant money; and
   2. (2) may be subject to annual financial reporting and audit.

As added by P.L.157-2026, SEC.189.