Sec. 12. (a) The student learning recovery grant program fund is established for the purpose of providing grants to eligible entities under the program.

     (b) The department shall administer the fund.

Terms Used In Indiana Code 20-32-8.7-12

  • 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 student learning recovery grant program fund established by section 12 of this chapter. See Indiana Code 20-32-8.7-2
  • program: refers to the student learning recovery grant program established by section 5 of this chapter. See Indiana Code 20-32-8.7-4
     (c) The fund consists of the following:

(1) Appropriations by the general assembly.

(2) Interest deposited in the fund under subsection (d).

(3) Donations, gifts, and money received from any other source, including transfers from other funds or accounts.

     (d) The treasurer of state shall invest 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.

     (e) All money accruing to the fund is appropriated continuously for the purposes of the fund.

     (f) Money in the fund at the end of a state fiscal year does not revert to the state general fund.

As added by P.L.167-2021, SEC.1.

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