Sec. 2. (a) The twenty-first century scholars fund is established to provide the financial resources necessary to award the scholarships authorized under the program.

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Terms Used In Indiana Code 21-12-6-2

  • 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 commission shall administer the fund.

     (c) The expenses of administering the fund shall be paid from money in the fund.

     (d) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested.

     (e) Money in the fund at the end of a state fiscal year does not revert to the state general fund but remains available to be used for providing money for twenty-first century scholarships under this chapter, or it may be transferred to another fund under this article as directed by the commission under IC 21-12-1.2-2.

[Pre-2007 Higher Education Recodification Citation: 20-12-70-9.]

As added by P.L.2-2007, SEC.253. Amended by P.L.234-2007, SEC.57; P.L.234-2015, SEC.12.

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