Sec. 26. (a) As used in this section, “fund” means the postsecondary credit bearing proprietary educational institution authorization fund established by subsection (b).

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Terms Used In Indiana Code 21-18.5-6-26

  • 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 postsecondary credit bearing proprietary educational institution authorization fund is established.

     (c) The fund shall be administered by the commission (as defined in IC 21-18.5-2-7.).

     (d) Money in the fund at the end of a state fiscal year does not revert to the general fund.

     (e) All fees collected by the board for proprietary education under this chapter shall be deposited in the fund.

     (f) Money in the fund shall be used by the board for proprietary education to administer this chapter.

As added by P.L.107-2012, SEC.58. Amended by P.L.13-2013, SEC.63; P.L.273-2013, SEC.28.

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