Indiana Code 13-17-6-3. Asbestos trust fund
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Sec. 3. (a) The asbestos trust fund is established to provide a source of money for the purposes set forth in section 4 of this chapter.
(c) 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 money may be invested. Interest that accrues from these investments shall be deposited in the fund.
(b) The expenses of administering the fund shall be paid from the money in the fund.
Terms Used In Indiana Code 13-17-6-3
- 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.
(d) Money in the fund at the end of a state fiscal year does not revert to the state general fund.
(e) The sources of money for the fund are the following:
(1) Accreditation fees paid under section 2 of this chapter.
(2) Appropriations made by the general assembly, gifts, and donations intended for deposit in the fund.
(3) Penalties imposed under IC 13-30-4 and IC 13-30-5 for violations of the rules of the board concerning asbestos.
[Pre-1996 Recodification Citation: 13-1-1-15.]
As added by P.L.1-1996, SEC.7.