Sec. 12. (a) At the request of the
commissioner, the state comptroller shall establish a trust fund for purposes of holding money received under section 11 of this chapter.
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Terms Used In Indiana Code 4-13-12.1-12
- commissioner: refers to the commissioner of the department. See Indiana Code 4-13-12.1-1
- department: refers to the Indiana department of administration created by IC 4-13-1-2. See Indiana Code 4-13-12.1-2
- 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.
(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 trust funds may be invested. Interest that accrues from these investments shall be deposited in the fund.
(e) Money in the fund at the end of a state fiscal year does not revert to the state general fund.
As added by P.L.22-1992, SEC.1. Amended by P.L.9-2024, SEC.93.
