Sec. 9. (a) The Indiana Sports Corporation shall manage the money received from the fund under section 8 of this chapter in accordance with the general laws of the state relating to the handling of public funds.

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Terms Used In Indiana Code 5-33-6.5-9

  • 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.
  • fund: refers to the statewide sports and tourism bid fund established by section 8 of this chapter. See Indiana Code 5-33-6.5-4
     (b) The handling and expenditure of funds coming into the possession of the Indiana Sports Corporation is subject to audit and supervision by the state board of accounts.

     (c) The Indiana Sports Corporation shall ensure that not less than thirty percent (30%) of the money received by the Indiana Sports Corporation each biennium is used for events that are conducted outside of Marion County. The Indiana Sports Corporation may award grants to other eligible entities as set forth in section 10 of this chapter.

     (d) Indiana Sports Corporation shall annually report to the budget committee on the use of the money received from the fund.

As added by P.L.58-2022, SEC.1.

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