Indiana Code 4-13-12.1-12. Trust fund; creation; administration; investments; reversion to general fund
Current as of: 2023 | Check for updates
|
Other versions
Sec. 12. (a) At the request of the commissioner, the auditor of state shall establish a trust fund for purposes of holding money received under section 11 of this chapter.
(c) The expenses of administering the fund shall be paid from money in the fund.
(b) A trust fund created under this section shall be administered by the department.
Terms Used In Indiana Code 4-13-12.1-12
- commissioner: refers to the commissioner of the department. See Indiana Code 4-13-12.1-1
- department: refers to the Indiana department of administration created by IC 4-13-1-2. See Indiana Code 4-13-12.1-2
- 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.
(d) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public trust funds may be invested. Interest that accrues from these investments shall be deposited in the fund.
(e) 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.22-1992, SEC.1.