Indiana Code 20-51.4-4-3 v2. Indiana education scholarship account program fund; uses; administration
Sec. 3. (a) The Indiana education scholarship account program fund is established for the purpose of providing grants to eligible students under the ESA program. Money appropriated to the fund may be used to provide grants under this chapter in the manner prescribed in section 2 of this chapter.
Terms Used In Indiana Code 20-51.4-4-3 v2
- 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.
(c) The ESA program fund consists of the following:
(1) Appropriations by the general assembly.
(2) Interest deposited in the ESA program fund under subsection (d).
(3) Donations, gifts, and money received from any other source, including transfers from other funds or accounts.
(4) Amounts transferred to the ESA program fund from the Indiana education scholarship account administration fund under section 3.5(e) of this chapter.
(d) The treasurer of state shall invest money in the ESA program fund not currently needed to meet the obligations of the ESA program fund in the same manner as other public money may be invested. Interest that accrues from these investments shall be deposited in the ESA program fund.
(e) Money in the ESA program fund at the end of a state fiscal year reverts to the state general fund.
As added by P.L.165-2021, SEC.180. Amended by P.L.132-2022, SEC.6; P.L.202-2023, SEC.51.