Sec. 1. (a) The bureau of motor vehicles commission fund is established for the purpose of paying the expenses incurred in administering IC 9-14.1 and to defray expenses incurred by the bureau in verifying compliance with financial responsibility requirements under IC 9-25-9. The commission shall administer the 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 9-14-14-1

  • 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.
     (c) Money in the fund at the end of a state fiscal year does not revert to the state general fund.

     (d) There is annually appropriated to the commission the money in the fund for its use in carrying out the purposes of IC 9-14.1, subject to the approval of the budget agency.

     (e) The fund consists of the following:

(1) Money deposited in or distributed to the fund under this title.

(2) Money deposited in the fund under IC 9-29-14-5 (before its repeal).

(3) Money received from any other source, including appropriations.

[Pre-2016 Revision Citations: subsection (a) formerly 9-29-14-1; subsection (b) formerly 9-29-14-2; subsection (c) formerly 9-29-14-3; subsection (d) formerly 9-29-14-4; subsection (e) formerly 9-29-14-5.]

As added by P.L.198-2016, SEC.194. Amended by P.L.201-2023, SEC.118.

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