Sec. 5.3. (a) The career scholarship account donation fund is established for the purpose of accepting donations for the career scholarship account program to support administration of the program.

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Terms Used In Indiana Code 20-51.4-4.5-5.3

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
     (b) The treasurer of state shall administer the fund.

     (c) The fund consists of the following:

(1) Donations, gifts, and money received from any other source, including transfers from other funds or accounts.

(2) Interest deposited in the fund under subsection (d).

     (d) The treasurer of state shall invest money in the fund not currently needed to meet the obligations of the fund in the same manner as other public money may be invested. Interest that accrues from these investments shall be deposited in the fund.

     (e) The treasurer of state may transfer any funds held in the fund to the career scholarship account program fund established by section 4 of this chapter at any time for the purpose of that fund.

     (f) Money in the fund is continuously appropriated for purposes of the fund.

     (g) 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 for the purposes of the fund.

As added by P.L.202-2023, SEC.62.

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