Sec. 18. Except for allotment stipulations provided in IC 4-12-18, federal funds received by an instrumentality are appropriated for purposes specified by the federal government and the general assembly, if that body elects to appropriate federal funds, subject to allotment by the budget agency. The provisions of this chapter and other laws concerning the acceptance, disbursement, review, and approval of grants, loans, and gifts made by the federal government or any other source to the state or its agencies apply to instrumentalities.

As added by P.L.246-2005, SEC.40. Amended by P.L.165-2021, SEC.41; P.L.174-2022, SEC.1.