Note: This version of section amended by P.L.202-2023, SEC.52, effective 7-1-2023. See also preceding version of this section amended by P.L.201-2023, SEC.222, effective 5-4-2023.

     Sec. 3.5. (a) The Indiana education scholarship account administration fund is established for the purpose of accepting money for the Indiana education scholarship account program to support administration of the ESA program.

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

     (c) The fund consists of the following:

(1) Administration fees deposited in the fund under IC 20-51.4-3-7(b).

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

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

     (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) The treasurer of state may transfer any funds held in the fund to the ESA program fund established by section 3 of this chapter at any time for the purpose of the ESA program fund.

As added by P.L.132-2022, SEC.7. Amended by P.L.202-2023, SEC.52.