Indiana Code 6-5.5-8-1. Establishment; purpose; investment of money in fund; reversion of funds
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Sec. 1. (a) The financial institutions tax fund is established for the purpose of making distributions to counties and for providing revenue for state appropriations. The fund shall be administered by the treasurer of state.
(c) Money in the fund at the end of a fiscal year does not revert to the state general fund.
(b) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested.
Terms Used In Indiana Code 6-5.5-8-1
- 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.
As added by P.L.347-1989(ss), SEC.1.