Sec. 9. (a) The investment incentive fund is established within the state treasury to provide grants and loans to counties and municipalities.

lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 5-28-24-9

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
     (b) The fund consists of appropriations from the general assembly and loan repayments.

     (c) The corporation shall administer the fund. The following may be paid from money in the fund:

(1) Expenses of administering the fund.

(2) Nonrecurring administrative expenses incurred to carry out the purposes of this chapter.

     (d) Earnings from loans made under this chapter shall be deposited the fund.

     (e) 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. Interest that accrues from these investments shall be deposited in the state general fund.

As added by P.L.4-2005, SEC.34.

  Previous section
Next section  
 Chapter 24 Contents