Indiana Code 8-21-11-5. Program to foster airport development; components; rules
(1) State grants to airports from the grant fund to match federal Aviation Trust Fund grants.
Terms Used In Indiana Code 8-21-11-5
- airport: means a public use airport (as defined in Indiana Code 8-21-11-1
- grant fund: refers to the airport development grant fund. See Indiana Code 8-21-11-2
- loan fund: refers to the airport development revolving loan fund. See Indiana Code 8-21-11-3
(3) Loans to airports from the loan fund for airport development projects.
(b) The rules must establish the following for both grants and loans:
(1) Standards of eligibility.
(2) The maximum amount of money for which any one (1) airport or airport development project is eligible.
(3) Application procedures.
(4) The local matching funds that are required.
(5) In determining the amount of the match for a state grant for which federal grants are not available as described in subsection (a)(2), the department shall:
(A) consider the airport classification and the type of project; and
(B) require matching funds of at least twenty-five percent (25%).
(6) Other provisions to administer the grant and loan programs.
As added by P.L.34-1990, SEC.2. Amended by P.L.123-2023, SEC.1.