Sec. 11. Grant money distributed from the fund to the Indiana Sports Corporation under this chapter may be expended by the Indiana Sports Corporation, or another eligible entity that has received a grant from the Indiana Sports Corporation, only for the following purposes:

(1) To pay or reimburse the costs of applying or bidding for selection as the site of the event.

Terms Used In Indiana Code 5-33-6.5-11

  • Contract: A legal written agreement that becomes binding when signed.
  • 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 entity: means any of the following:

    Indiana Code 5-33-6.5-1

  • event: means an event that is held in Indiana for which an eligible entity seeks approval from a site selection organization to hold the event or the related series of events at a site in Indiana. See Indiana Code 5-33-6.5-2
  • event support contract: means a joinder undertaking, a joinder agreement, or a similar contract executed by:

    Indiana Code 5-33-6.5-3

  • fund: refers to the statewide sports and tourism bid fund established by section 8 of this chapter. See Indiana Code 5-33-6.5-4
  • site selection organization: means an entity that conducts or considers conducting an event in Indiana. See Indiana Code 5-33-6.5-7
(2) To pay or reimburse the costs of planning for or conducting the event, including any of the following:

(A) Fees that are charged by a site selection organization and that must be paid as a prerequisite to holding the event, including hosting fees, sanctioning fees, participation fees, or bid fees.

(B) Costs for performance bonds or insurance required for hosting the event.

(C) Public safety expenses or security related expenses related to the event.

(D) Advertising expenses for advertising the event and its locations.

(E) Administrative costs and facility use costs.

(F) Costs for preparation of an economic impact analysis for the event.

(G) Costs of transportation or parking services for the event that exceed the revenues earned from providing the transportation or parking for the event.

(H) Other costs specified in the event support contract as necessary for the hosting of the event.

(3) To pay or reimburse the costs of improving, constructing, renovating, or acquiring facilities that are directly associated with or attributable to fulfilling obligations of the event support contract.

(4) To pay or reimburse the costs incurred for the eligible entity to acquire an ownership interest in the event, if applicable.

As added by P.L.58-2022, SEC.1.

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