Sec. 14. (a) The treasurer of state shall invest the money in the economic growth initiatives account not currently needed to further the purposes of the account in the same manner as other public funds may be invested. Income from these investments shall be deposited in the fund, but not the account, and any losses from the investments shall be charged against the fund, but not the account.

     (b) Expenses of managing the economic growth initiatives account shall be paid from money in the account.

Terms Used In Indiana Code 4-10-18-14

  • Economic growth initiative: means :

    Indiana Code 4-10-18-1

  • 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.
  • Fund: means the counter-cyclical revenue and economic stabilization fund established under this chapter. See Indiana Code 4-10-18-1
     (c) Money in the economic growth initiatives account does not revert to the fund or the state general fund at the end of a state fiscal year. However, if the account is abolished, money in the account shall be deposited in the fund.

     (d) If no grant agreement for a qualified economic growth initiative for a government building that is to be occupied by an agency of the federal government has been executed and delivered under section 16 of this chapter before March 1, 1994:

(1) the money in the account reverts to the fund on March 1, 1994; and

(2) the auditor of state shall abolish the account on March 1, 1994.

As added by P.L.28-1993, SEC.3.

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