Sec. 1. (a) The National Guard scholarship extension fund is established to provide the financial resources necessary to award tuition scholarships to scholarship extension applicants.

     (b) The commission shall administer the fund. The expenses of administering the fund shall be paid from money in the fund.

Terms Used In Indiana Code 21-13-5-1

  • 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 fund consists of money transferred to the fund from the National Guard scholarship program reserves.

     (d) 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.144-2007, SEC.21.