Sec. 12. (a) The Indiana kids first trust fund is established to carry out the purposes of this chapter.

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Terms Used In Indiana Code 31-26-4-12

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • board: refers to the Indiana kids first trust fund board established by section 5 of this chapter. See Indiana Code 31-26-4-2
  • 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 Indiana kids first trust fund established by section 12 of this chapter. See Indiana Code 31-26-4-3
  • project: means an undertaking:

    Indiana Code 31-26-4-4

     (b) The fund consists of the following:

(1) Appropriations made by the general assembly.

(2) Interest as provided in subsection (e).

(3) Fees from kids first trust license plates issued under IC 9-18-30 (before its expiration) or IC 9-18.5-14.

(4) Money donated to the fund, including donations from a nonprofit subsidiary corporation established under section 17 of this chapter.

(5) Money transferred to the fund from other funds.

     (c) The treasurer of state shall administer the fund.

     (d) The expenses of administering the fund and this chapter shall be paid from 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 trust funds are invested. Interest that accrues from these investments shall be deposited in the fund.

     (f) An appropriation made by the general assembly to the fund shall be allotted and allocated at the beginning of the fiscal period for which the appropriation was made.

     (g) Money in the fund at the end of a state fiscal year does not revert to the state general fund or any other fund.

     (h) Subject to this chapter, there is annually appropriated to the department all money in the fund for the purposes of this chapter. However, the department may not request the allotment of money from the appropriation for a project that has not been approved and recommended by the board.

As added by P.L.145-2006, SEC.272. Amended by P.L.198-2016, SEC.660; P.L.93-2021, SEC.4.

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