Sec. 5. (a) The tourism information and
promotion fund is established within the state treasury. The fund shall be used for the purposes of this chapter.
Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.
Terms Used In Indiana Code 5-33-6-5
- 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.
- 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.
- fund: refers to the tourism information and promotion fund established by section 5 of this chapter. See Indiana Code 5-33-6-1
- promotion: includes the planning and conducting of information and advertising campaigns. See Indiana Code 5-33-6-3
(c) The corporation shall administer the fund. The following may be paid from money in the fund:
(1) Grants.
(2) Expenses of administering the fund.
(3) Nonrecurring administrative expenses incurred to carry out the purposes of this chapter.
(4) Expenses incurred to promote heritage barns under section 11 of this chapter.
(d) The money in the fund at the end of a state fiscal year does not revert to the state general fund but remains in 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.78-2019, SEC.5.
