Sec. 16. (a) Before July 1, 2021, the corporation shall develop a policy that establishes the framework for a READI program.

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Terms Used In Indiana Code 5-28-41-16

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • fund: refers to the READI fund established by section 7 of this chapter. See Indiana Code 5-28-41-3
  • READI: refers to the regional economic acceleration and development initiative. See Indiana Code 5-28-41-5
  • regional economic acceleration and development strategy: refers to :

    Indiana Code 5-28-41-6

     (b) The policy developed by the corporation shall include detailed information outlining:

(1) the entities that are eligible to submit applications for a grant or loan from the fund;

(2) the elements of a regional economic acceleration and development strategy, and the information a regional economic acceleration and development strategy must contain in order to make projects to implement the strategy eligible for a grant or loan from the fund;

(3) the types of projects that are eligible for financial support from the fund; and

(4) the criteria that will be used by a strategic review committee and the board to analyze applications for a grant or loan from the fund.

     (c) The policy developed by the corporation must be approved by the board after review by the budget committee.

As added by P.L.165-2021, SEC.64.

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