CHAPTER 2.5. INDIANA ARTS COMMISSION TRUST FUND

IC 4-23-2.5
    Chapter 2.5. Indiana Arts Commission Trust Fund

IC 4-23-2.5-1
"Board" defined
    Sec. 1. As used in this chapter, "board" refers to the Indiana artscommission trust fund board established by section 5 of this chapter.
As added by P.L.29-1997, SEC.1.

IC 4-23-2.5-2
"Commission" defined
    Sec. 2. As used in this chapter, "commission" refers to the Indianaarts commission established by IC 4-23-2.
As added by P.L.29-1997, SEC.1.

IC 4-23-2.5-3
"Fund" defined
    Sec. 3. As used in this chapter, "fund" refers to the Indiana artscommission trust fund established by section 4 of this chapter.
As added by P.L.29-1997, SEC.1.

IC 4-23-2.5-4
Purpose of fund; contents
    Sec. 4. (a) The Indiana arts commission trust fund is establishedto support the programs and the administrative budget of thecommission.
    (b) The fund consists of the following:
        (1) Appropriations of the general assembly from revenuesources determined by the general assembly and in an amountdetermined by the general assembly.
        (2) Donations to the fund from public or private sources.
        (3) Interest and dividends on assets of the fund.
        (4) Money transferred to the fund from other funds.
        (5) Fees from the Indiana arts trust license plate issued underIC 9-18-41.
        (6) Money from other sources that the board may acquire.
As added by P.L.29-1997, SEC.1. Amended by P.L.118-1998, SEC.1.

IC 4-23-2.5-5
Establishment of fund
    Sec. 5. The Indiana arts commission trust fund board isestablished.
As added by P.L.29-1997, SEC.1.

IC 4-23-2.5-6
Board; members
    Sec. 6. The board consists of the following seven (7) votingmembers:
        (1) The treasurer of state.
        (2) Three (3) members appointed by the governor who are not

members of the commission.
        (3) Three (3) members of the commission appointed by thechairman of the commission.
As added by P.L.29-1997, SEC.1.

IC 4-23-2.5-7
Board; chairman
    Sec. 7. The chairman of the commission shall designate one (1) ofthe chairman's appointees to the board as the chairman of the board.
As added by P.L.29-1997, SEC.1.

IC 4-23-2.5-8
Board; meetings
    Sec. 8. The board shall meet at the call of the chairman of theboard.
As added by P.L.29-1997, SEC.1.

IC 4-23-2.5-9
Board; quorum
    Sec. 9. Four (4) voting members of the board constitute a quorum.The affirmative vote of four (4) members of the board is necessaryfor the board to take any action.
As added by P.L.29-1997, SEC.1.

IC 4-23-2.5-10
Board; terms of members; appointment of members
    Sec. 10. (a) The term of a board member begins on the later of thefollowing:
        (1) The day the term of the member whom the individual isappointed to succeed expires.
        (2) The day the individual is appointed.
    (b) The term of a member expires July 1 of the second year afterthe member is appointed. However, a member serves at the pleasureof the appointing authority.
    (c) The appointing authority may reappoint a member for a newterm.
    (d) The appointing authority shall appoint an individual to fill avacancy among the members.
As added by P.L.29-1997, SEC.1.

IC 4-23-2.5-11
Board; compensation and expenses of members
    Sec. 11. (a) Each member of the board who is not a stateemployee is entitled to the minimum salary per diem provided byIC 4-10-11-2.1(b). The member is also entitled to reimbursement fortraveling expenses as provided under IC 4-13-1-4 and other expensesactually incurred in connection with the member's duties as providedin the state policies and procedures established by the Indianadepartment of administration and approved by the budget agency.
    (b) Each member of the board who is a state employee is entitled

to reimbursement for traveling expenses as provided underIC 4-13-1-4 and other expenses actually incurred in connection withthe member's duties as provided in the state policies and proceduresestablished by the Indiana department of administration andapproved by the budget agency.
As added by P.L.29-1997, SEC.1.

IC 4-23-2.5-12
Management and development of fund
    Sec. 12. (a) The board shall manage and develop the fund and theassets of the fund.
    (b) The board shall do the following:
        (1) Establish a policy for the investment of assets of the fund.
        (2) Acquire money for the fund through the solicitation ofprivate or public donations and other revenue producingactivities.
        (3) Perform other tasks consistent with prudent managementand development of the fund.
As added by P.L.29-1997, SEC.1.

IC 4-23-2.5-13
Administration of fund; investment of money in fund
    Sec. 13. (a) Subject to the investment policy of the board, thetreasurer of state shall administer the fund and invest the money inthe fund.
    (b) The expenses of administering the fund and this chapter shallbe paid from the fund.
    (c) The treasurer of state shall invest the money in the fund notcurrently needed to meet the obligations of the fund in the samemanner as other public trust funds are invested. Interest that accruesfrom these investments shall be deposited in the fund.
As added by P.L.29-1997, SEC.1.

IC 4-23-2.5-14
Appropriations; reversion of money in fund
    Sec. 14. (a) An appropriation made by the general assembly to thefund shall be allotted and allocated at the beginning of the fiscalperiod for which the appropriation is made.
    (b) Money in the fund at the end of a state fiscal year does notrevert to the state general fund or any other fund.
As added by P.L.29-1997, SEC.1.

IC 4-23-2.5-15
Allocation of money from fund; use of interest and dividends bycommission
    Sec. 15. (a) The commission has the sole authority to allocatemoney from the fund to arts providers in Indiana.
    (b) Subject to other provisions of this chapter, when there is onemillion dollars ($1,000,000) in the fund there is annuallyappropriated to the commission all interest and dividend earnings of

the fund for projects that the commission designates to accomplishthe purposes of the commission under IC 4-23-2.
    (c) The commission may not use money from the fund to purchaseland or structures.
As added by P.L.29-1997, SEC.1. Amended by P.L.103-2006, SEC.1.

IC 4-23-2.5-16
Annual report
    Sec. 16. Before October 1 of each year, the board shall prepare areport concerning the fund for distribution to the public and thegeneral assembly. A report distributed under this section to thegeneral assembly must be in an electronic format under IC 5-14-6.
As added by P.L.29-1997, SEC.1. Amended by P.L.28-2004, SEC.45.

IC 4-23-2.5-17
Rules
    Sec. 17. The commission may adopt rules under IC 4-22-2 toimplement this chapter.
As added by P.L.29-1997, SEC.1.