Indiana Code 5-28-15-5.5. Expired
Indiana Code 5-28-15.5-5. Ability of corporation to make grants to district boards from Indiana twenty-first century research and technology fund; amount of grant; uses
(1) the city of Lafayette; and
Terms Used In Indiana Code 5-28-15.5-5
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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
(b) The total amount of grant money that a district board established in the city of Lafayette may receive during a state fiscal year may not exceed one million dollars ($1,000,000).
(c) The total amount of grant money that a district board established in the city of Fort Wayne may receive during a state fiscal year may not exceed one million dollars ($1,000,000).
(d) Except as provided in subsection (e), one hundred percent (100%) of grant money awarded to a district board under this section must be used by the district board for programs or projects that support entrepreneurship, small business development, technology development, and innovation.
(e) A district board may use grant money awarded under this section to reimburse itself for costs incurred before the grant money was awarded if the costs are attributable to the purposes described in subsection (d).
(f) The corporation may develop guidelines, without complying with IC 4-22-2, for awarding grants under this section.
As added by P.L.238-2017, SEC.4. Amended by P.L.194-2019, SEC.2.