Sec. 8.5. (a) As used in this section, “department” refers to the department of commerce (before its abolition by P.L.4-2005) established by IC 4-4-3-2 (before its repeal).

     (b) Notwithstanding any other law, all loans, loan agreements, or similar arrangements between the department and a qualified entity are legalized and declared valid if these loans, loan agreements, or similar arrangements have been delivered and the department has lent money pursuant to them before April 18, 1985. All proceedings had and actions taken under which these loans, loan agreements, or similar arrangements were undertaken are fully legalized and declared valid.

As added by P.L.220-2011, SEC.107.