Sec. 7. (a) The Indiana housing first account is established within the state general fund to provide funds to provide housing and support services to eligible persons under the program. The authority shall administer the account.

     (b) The account consists of the following:

Terms Used In Indiana Code 5-20-9-7

  • account: refers to the Indiana housing first account established by section 7 of this chapter. See Indiana Code 5-20-9-1
  • authority: refers to the Indiana housing and community development authority created by IC 5-20-1-3. See Indiana Code 5-20-9-2
  • 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.
  • program: refers to the Indiana housing first program established by section 6 of this chapter. See Indiana Code 5-20-9-5
(1) Money appropriated to the account by the general assembly.

(2) Investment earnings, including interest, on money in the account.

(3) Money from any other source, including gifts, grants, donations, and other funds from government programs, foundations, corporations, or any other public or private sources.

     (c) The expenses of administering the account shall be paid from money in the account.

     (d) The treasurer of state shall invest the money in the account not currently needed to meet the obligations of the account in the same manner as other public money may be invested.

     (e) Money that is in the account at the end of a state fiscal year does not revert to the state general fund.

As added by P.L.103-2017, SEC.1.

  Previous section
Next section  
 Chapter 9 Contents