Indiana Code 4-33-23-11. Restrictions on parties to development agreements and recipients
Current as of: 2023 | Check for updates
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Sec. 11. (a) A party that is not the development provider may not be a for-profit person.
(c) A specified recipient who disburses part or all of an economic development payment to an unspecified recipient has a duty to ensure that the expenditures made by the unspecified recipient directly advance the stated purposes of the economic development payment.
(b) A specified recipient may not be a for-profit person.
Terms Used In Indiana Code 4-33-23-11
- development provider: means :
Indiana Code 4-33-23-3
- economic development payment: means monetary disbursement paid under a development agreement that is:
Indiana Code 4-33-23-4
- specified recipient: means a person that is named in a development agreement that:
Indiana Code 4-33-23-5
- unspecified recipient: means a person that is not named in a development agreement that receives a disbursement of money from a specified recipient. See Indiana Code 4-33-23-6
As added by P.L.82-2011, SEC.1. Amended by P.L.6-2012, SEC.22.