Sec. 8. (a) The graduate medical education fund is established within the state treasury. Subject to subsection (b), money in the fund is to be used for the purposes specified in sections 2(1), 2(3), and 7 of this chapter.

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Terms Used In Indiana Code 21-44-7-8

  • 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) Except as provided in section 7(b) of this chapter, a recipient of money from the fund must agree to provide matching funds equal to at least twenty-five percent (25%) of the money provided.

     (c) The fund consists of the following:

(1) Appropriations by the general assembly.

(2) Grants.

(3) Gifts.

     (d) The board shall administer the fund.

     (e) The expenses of administering the fund may be paid from the fund.

     (f) Money in the fund that is not needed to meet the obligations of the fund may be invested in the manner that other public money is invested. Interest or other investment returns on money in the fund become part of the fund.

     (g) Money in the fund at the end of a state fiscal year does not revert to any other fund and remains available for expenditure for the purposes specified in sections 2(1), 2(3), and 7 of this chapter.

As added by P.L.190-2015, SEC.4. Amended by P.L.37-2020, SEC.14.

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