IC 5-28-23
    Chapter 23. Business Modernization and Technology

IC 5-28-23-1
Powers and duties of corporation
    Sec. 1. (a) The corporation shall do the following:
        (1) Contribute to the strengthening of the economy of Indianathrough the development of science and technology and topromote the modernization of Indiana businesses by supportingthe transfer of science, technology, and quality improvementmethods to the workplace.
        (2) Submit an annual report to the governor and to the generalassembly (in an electronic format under IC 5-14-6) that is dueon the first day of November for each year and must includedetailed information on the corporation's efforts to carry out thischapter. The corporation shall conduct an annual public hearingto receive comments from interested parties regarding thereport, and notice of the hearing shall be given at least fourteen(14) days before the hearing in accordance withIC 5-14-1.5-5(b).
    (b) The corporation may do the following:
        (1) Receive money from any source, borrow money, enter intocontracts, and expend money for activities appropriate to itspurpose under this chapter.
        (2) Do things necessary or incidental to carrying out thefunctions listed in this chapter.
        (3) Establish a statewide business modernization network toassist Indiana businesses in identifying ways to increaseproductivity and market competitiveness.
        (4) Identify scientific and technological problems andopportunities related to the economy of Indiana and formulateproposals to overcome those problems or realize thoseopportunities.
        (5) Identify specific areas in which scientific research andtechnological investigation will contribute to the improvementof productivity of Indiana manufacturers and farmers.
        (6) Determine specific areas in which financial investment inscientific and technological research and development fromprivate businesses located in Indiana could be improved orincreased if state resources were made available to assist infinancing activities.
        (7) Assist in establishing cooperative associations ofpostsecondary educational institutions in Indiana and of privateenterprises to coordinate research and development programsthat will, consistent with the primary educational function of thepostsecondary educational institutions, aid in the creation ofnew jobs in Indiana.
        (8) Assist in financing the establishment and continueddevelopment of technology intensive businesses in Indiana.
        (9) Advise postsecondary educational institutions of the

research needs of Indiana businesses and improve the exchangeof scientific and technological information for the mutualbenefit of postsecondary educational institutions and privatebusinesses.
        (10) Coordinate programs established by postsecondaryeducational institutions to provide Indiana businesses withscientific and technological information.
        (11) Establish programs in scientific education that will supportthe accelerated development of technology intensive businessesin Indiana.
        (12) Provide financial assistance through contracts, grants, andloans to programs of scientific and technological research anddevelopment.
        (13) Determine how state educational institutions can increaseincome derived from the sale or licensure of products orprocesses having commercial value that are developed as aresult of state educational institution sponsored researchprograms.
As added by P.L.4-2005, SEC.34. Amended by P.L.2-2007, SEC.110.

IC 5-28-23-2
Debts of business modernization and technology corporation
    Sec. 2. Debts incurred by the business modernization andtechnology corporation under authority of IC 4-3-1 (before its repeal)do not represent or constitute a debt of the state within the meaningof the Constitution of the State of Indiana or Indiana statutes. Thecorporation may not incur debt under this chapter. However, thecorporation shall assume the debt of the business modernization andtechnology corporation that is outstanding on the date the businessmodernization and technology corporation is abolished.
As added by P.L.4-2005, SEC.34.

IC 5-28-23-3
Consideration of projects
    Sec. 3. The corporation shall consider projects involving thecreation of the following:
        (1) Markets for products made from recycled materials.
        (2) New products made from recycled materials.
As added by P.L.4-2005, SEC.34.