Indiana Code 5-28-40-6. Small business innovation voucher program established
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Sec. 6. (a) The small business innovation voucher program is established to provide vouchers to eligible small businesses to be used by an eligible small business to purchase research and development support or other forms of technical assistance and services from an Indiana institution of higher education or other authorized research provider.
(c) The program is subject to appropriation from the general assembly.
(b) The corporation shall administer the program.
Terms Used In Indiana Code 5-28-40-6
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- 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.
- eligible small business: means a business entity that:
Indiana Code 5-28-40-1
- Indiana institution of higher education: means a public or private college or university that:
Indiana Code 5-28-40-2
- other authorized research provider: means a research organization, other than an Indiana institution of higher education, that:
Indiana Code 5-28-40-3
- voucher: means a grant to an eligible small business to purchase research services from an Indiana institution of higher education or other authorized research provider. See Indiana Code 5-28-40-5
As added by P.L.158-2019, SEC.3.