Sec. 8. (a) The corporation shall receive grants allocated by a federal program for the purposes specified in section 9(c) of this chapter. Guidelines shall be prepared by the corporation enumerating the qualification procedures for receipt of grants and loans from the fund. These guidelines must be consistent with Indiana law and federal program requirements.

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Terms Used In Indiana Code 5-28-8-8

  • 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.
  • federal program: means a federal loan or grant program that promotes economic development. See Indiana Code 5-28-8-2
  • fund: refers to the economic development fund established by section 5 of this chapter. See Indiana Code 5-28-8-3
  • qualified entity: means :

    Indiana Code 5-28-8-4

     (b) The board, with the approval of the budget agency and the governor, shall allocate parts of the fund for the purposes specified in section 9(c) of this chapter. The corporation shall make allocations on the basis of the need of the qualified entity.

As added by P.L.4-2005, SEC.34. Amended by P.L.130-2018, SEC.14.

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