IC 5-28-25
    Chapter 25. Industrial Development Grant Fund

IC 5-28-25-1
"Eligible entity"
    Sec. 1. As used in this chapter, "eligible entity" means:
        (1) a city;
        (2) a town;
        (3) a county;
        (4) a special taxing district;
        (5) an economic development commission established underIC 36-7-12;
        (6) a nonprofit corporation;
        (7) a corporation established under IC 23-7-1.1 (before itsrepeal on August 1, 1991) or IC 23-17 to distribute water fordomestic and industrial use;
        (8) a regional water, sewage, or solid waste district;
        (9) a conservancy district that includes in its purpose thedistribution of domestic water or the collection and treatment ofwaste; or
        (10) the Indiana finance authority established under IC 4-4-11.
As added by P.L.4-2005, SEC.34. Amended by P.L.235-2005,SEC.94.

IC 5-28-25-2
"Fund"
    Sec. 2. As used in this chapter, "fund" refers to the industrialdevelopment grant fund established by section 4 of this chapter.
As added by P.L.4-2005, SEC.34.

IC 5-28-25-3
"Industrial development program"
    Sec. 3. As used in this chapter, "industrial development program"means a program designed to aid economic development in Indianaand includes:
        (1) the construction of airports, airport facilities, and touristattractions;
        (2) the construction, extension, or completion of:
            (A) sanitary sewerlines, storm sewers, and other relateddrainage facilities;
            (B) waterlines;
            (C) roads and streets;
            (D) sidewalks;
            (E) rail spurs and sidings; and
            (F) information and high technology infrastructure (asdefined in IC 5-28-9-4);
        (3) the leasing, purchase, construction, repair, and rehabilitationof property, both real and personal; and
        (4) the preparation of surveys, plans, and specifications for theconstruction of publicly owned and operated facilities, utilities,

and services.
As added by P.L.4-2005, SEC.34.

IC 5-28-25-4
Fund established; powers of corporation; administration
    Sec. 4. (a) The industrial development grant fund is establishedwithin the state treasury. Grants may be made from the fund toeligible entities in accordance with this chapter and the rules adoptedunder this chapter.
    (b) The corporation may receive and accept, for purposes of thefund, grants, gifts, and contributions from public and private sources,including, on behalf of the state, grants from agencies andinstrumentalities of the United States.
    (c) The fund consists of appropriations from the general assembly.
    (d) The corporation shall administer the fund. The following maybe paid from money in the fund:
        (1) Expenses of administering the fund.
        (2) Nonrecurring administrative expenses incurred to carry outthe purposes of this chapter.
    (e) Money in the fund at the end of a state fiscal year does notrevert to the state general fund but remains in the fund.
    (f) 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 funds may be invested. Interest that accruesfrom these investments shall be deposited in the state general fund.
As added by P.L.4-2005, SEC.34.

IC 5-28-25-5
Grants; use of grants
    Sec. 5. (a) The secretary of commerce, subject to the approval ofthe governor and budget director, may direct the auditor of state tomake an approved grant from the fund to an eligible entity.
    (b) The money granted must be used by the recipient to instituteand administer an approved industrial development program.
As added by P.L.4-2005, SEC.34.