Sec. 5. (a) The Indiana kids first trust
fund board is established.
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Terms Used In Indiana Code 31-26-4-5
- 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
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(c) The board shall, before January 1 of each year, prepare a budget for expenditures from the fund for the following state fiscal year. The budget must contain priorities for expenditures from the fund to accomplish the projects that have been approved under this chapter. The budget shall be submitted to the department and the budget committee.
(d) The board may employ staff necessary to carry out the duties of the board.
(e) The board may establish a nonprofit subsidiary corporation under section 17 of this chapter.
As added by P.L.145-2006, SEC.272. Amended by P.L.93-2021, SEC.1.
