Sec. 5. (a) This section applies with regard to a state educational institution trust license plate supporting a state educational institution in a year following a year in which at least ten thousand (10,000) of the state educational institution trust license plates are sold or renewed.

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Terms Used In Indiana Code 9-18.5-25-5

  • 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 treasurer of state shall establish a special account within a trust fund for each state educational institution described in subsection (a).

     (c) The bureau shall require a person that purchases a state educational institution trust license plate under this section to designate the state educational institution the person chooses to receive the annual fee that the person pays under section 4(2) of this chapter as the corresponding state educational institution designated in section 3 of this chapter.

     (d) The treasurer of state shall deposit the annual fee collected under section 4(2) of this chapter into a special account within a trust fund for the state educational institution designated by the purchaser in subsection (c).

     (e) The treasurer of state shall invest the money in the special account not distributed in the same manner as other public trust funds are invested. Interest that accrues from these investments shall be deposited in the special account.

     (f) The bureau shall monthly distribute the money from the special account to the state educational institution’s authorized alumni association.

     (g) Money in the special account at the end of a state fiscal year does not revert to the state general fund.

[Pre-2016 Revision Citation: 9-18-46.2-6.]

As added by P.L.198-2016, SEC.327.

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