Sec. 21. (a) Except as provided in subsection (b), money in the statewide innovation development district fund established by section 20 of this chapter at the end of the state fiscal year does not revert to the state general fund.

     (b) Notwithstanding subsection (a), if the unobligated balance of the statewide innovation development district fund established by section 20 of this chapter exceeds five hundred million dollars ($500,000,000) at the close of any state fiscal year, the amount of funds in excess of five hundred million dollars ($500,000,000) shall be transferred to the state general fund.

Terms Used In Indiana Code 36-7-32.5-21

  • 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.
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
     (c) Money in the fund is continuously appropriated for the purposes of this chapter.

As added by P.L.135-2022, SEC.28.

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