1. (a) The Indiana Native American trust fund is established.
2. (b) The treasurer of state shall invest the money in the Indiana Native American trust fund not currently needed to meet the obligations of the Indiana Native American trust fund in the same manner as other public trust funds are invested. Interest that accrues from these investments shall be deposited in the Indiana Native American trust fund.
3. (c) The bureau shall administer the Indiana Native American trust fund. Expenses of administering the Indiana Native American trust fund shall be paid from money in the Indiana Native American trust fund.

4. (d) The bureau shall distribute at least one (1) time each month the money from the fund as follows:

   1. (1) Before January 1 of the calendar year following the calendar year in which a nonprofit corporation is established under IC 4-23-36-16 , to the Indiana cultural commission established under IC 4-23-36 .
   2. (2) After December 31 of the calendar in which a nonprofit corporation is established under IC 4-23-36-16 , to the treasurer of the nonprofit corporation.
5. (e) Money in the fund at the end of a state fiscal year does not revert to the state general fund.

6. (f) The Indiana cultural commission or the nonprofit corporation described in subsection (d) may use money received under this section for any lawful purpose that impacts, studies, supports, or relates to the Indiana Native American community.

   [Pre-2016 Revision Citation: 9-18-44-4.]

As added by P.L.198-2016, SEC.327. Amended by P.L.118-2022, SEC.14; P.L.152-2026, SEC.121.