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 Indiana
through the development of science and technology and to
promote the modernization of Indiana businesses by supporting
the transfer of science, technology, and quality improvement
methods to the workplace.
(2) Submit an annual report to the governor and to the general
assembly (in an electronic format under IC 5-14-6) that is due
on the first day of November for each year and must include
detailed information on the corporation's efforts to carry out this
chapter. The corporation shall conduct an annual public hearing
to receive comments from interested parties regarding the
report, and notice of the hearing shall be given at least fourteen
(14) days before the hearing in accordance with
IC 5-14-1.5-5(b).
(b) The corporation may do the following:
(1) Receive money from any source, borrow money, enter into
contracts, and expend money for activities appropriate to its
purpose under this chapter.
(2) Do things necessary or incidental to carrying out the
functions listed in this chapter.
(3) Establish a statewide business modernization network to
assist Indiana businesses in identifying ways to increase
productivity and market competitiveness.
(4) Identify scientific and technological problems and
opportunities related to the economy of Indiana and formulate
proposals to overcome those problems or realize those
opportunities.
(5) Identify specific areas in which scientific research and
technological investigation will contribute to the improvement
of productivity of Indiana manufacturers and farmers.
(6) Determine specific areas in which financial investment in
scientific and technological research and development from
private businesses located in Indiana could be improved or
increased if state resources were made available to assist in
financing activities.
(7) Assist in establishing cooperative associations of
postsecondary educational institutions in Indiana and of private
enterprises to coordinate research and development programs
that will, consistent with the primary educational function of the
postsecondary educational institutions, aid in the creation of
new jobs in Indiana.
(8) Assist in financing the establishment and continued
development of technology intensive businesses in Indiana.
(9) Advise postsecondary educational institutions of the
research needs of Indiana businesses and improve the exchange
of scientific and technological information for the mutual
benefit of postsecondary educational institutions and private
businesses.
(10) Coordinate programs established by postsecondary
educational institutions to provide Indiana businesses with
scientific and technological information.
(11) Establish programs in scientific education that will support
the accelerated development of technology intensive businesses
in Indiana.
(12) Provide financial assistance through contracts, grants, and
loans to programs of scientific and technological research and
development.
(13) Determine how state educational institutions can increase
income derived from the sale or licensure of products or
processes having commercial value that are developed as a
result of state educational institution sponsored research
programs. 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 and
technology corporation under authority of IC 4-3-1 (before its repeal)
do not represent or constitute a debt of the state within the meaning
of the Constitution of the State of Indiana or Indiana statutes. The
corporation may not incur debt under this chapter. However, the
corporation shall assume the debt of the business modernization and
technology corporation that is outstanding on the date the business
modernization 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 the
creation 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.
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 Indiana
through the development of science and technology and to
promote the modernization of Indiana businesses by supporting
the transfer of science, technology, and quality improvement
methods to the workplace.
(2) Submit an annual report to the governor and to the general
assembly (in an electronic format under IC 5-14-6) that is due
on the first day of November for each year and must include
detailed information on the corporation's efforts to carry out this
chapter. The corporation shall conduct an annual public hearing
to receive comments from interested parties regarding the
report, and notice of the hearing shall be given at least fourteen
(14) days before the hearing in accordance with
IC 5-14-1.5-5(b).
(b) The corporation may do the following:
(1) Receive money from any source, borrow money, enter into
contracts, and expend money for activities appropriate to its
purpose under this chapter.
(2) Do things necessary or incidental to carrying out the
functions listed in this chapter.
(3) Establish a statewide business modernization network to
assist Indiana businesses in identifying ways to increase
productivity and market competitiveness.
(4) Identify scientific and technological problems and
opportunities related to the economy of Indiana and formulate
proposals to overcome those problems or realize those
opportunities.
(5) Identify specific areas in which scientific research and
technological investigation will contribute to the improvement
of productivity of Indiana manufacturers and farmers.
(6) Determine specific areas in which financial investment in
scientific and technological research and development from
private businesses located in Indiana could be improved or
increased if state resources were made available to assist in
financing activities.
(7) Assist in establishing cooperative associations of
postsecondary educational institutions in Indiana and of private
enterprises to coordinate research and development programs
that will, consistent with the primary educational function of the
postsecondary educational institutions, aid in the creation of
new jobs in Indiana.
(8) Assist in financing the establishment and continued
development of technology intensive businesses in Indiana.
(9) Advise postsecondary educational institutions of the
research needs of Indiana businesses and improve the exchange
of scientific and technological information for the mutual
benefit of postsecondary educational institutions and private
businesses.
(10) Coordinate programs established by postsecondary
educational institutions to provide Indiana businesses with
scientific and technological information.
(11) Establish programs in scientific education that will support
the accelerated development of technology intensive businesses
in Indiana.
(12) Provide financial assistance through contracts, grants, and
loans to programs of scientific and technological research and
development.
(13) Determine how state educational institutions can increase
income derived from the sale or licensure of products or
processes having commercial value that are developed as a
result of state educational institution sponsored research
programs. 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 and
technology corporation under authority of IC 4-3-1 (before its repeal)
do not represent or constitute a debt of the state within the meaning
of the Constitution of the State of Indiana or Indiana statutes. The
corporation may not incur debt under this chapter. However, the
corporation shall assume the debt of the business modernization and
technology corporation that is outstanding on the date the business
modernization 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 the
creation 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.
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 Indiana
through the development of science and technology and to
promote the modernization of Indiana businesses by supporting
the transfer of science, technology, and quality improvement
methods to the workplace.
(2) Submit an annual report to the governor and to the general
assembly (in an electronic format under IC 5-14-6) that is due
on the first day of November for each year and must include
detailed information on the corporation's efforts to carry out this
chapter. The corporation shall conduct an annual public hearing
to receive comments from interested parties regarding the
report, and notice of the hearing shall be given at least fourteen
(14) days before the hearing in accordance with
IC 5-14-1.5-5(b).
(b) The corporation may do the following:
(1) Receive money from any source, borrow money, enter into
contracts, and expend money for activities appropriate to its
purpose under this chapter.
(2) Do things necessary or incidental to carrying out the
functions listed in this chapter.
(3) Establish a statewide business modernization network to
assist Indiana businesses in identifying ways to increase
productivity and market competitiveness.
(4) Identify scientific and technological problems and
opportunities related to the economy of Indiana and formulate
proposals to overcome those problems or realize those
opportunities.
(5) Identify specific areas in which scientific research and
technological investigation will contribute to the improvement
of productivity of Indiana manufacturers and farmers.
(6) Determine specific areas in which financial investment in
scientific and technological research and development from
private businesses located in Indiana could be improved or
increased if state resources were made available to assist in
financing activities.
(7) Assist in establishing cooperative associations of
postsecondary educational institutions in Indiana and of private
enterprises to coordinate research and development programs
that will, consistent with the primary educational function of the
postsecondary educational institutions, aid in the creation of
new jobs in Indiana.
(8) Assist in financing the establishment and continued
development of technology intensive businesses in Indiana.
(9) Advise postsecondary educational institutions of the
research needs of Indiana businesses and improve the exchange
of scientific and technological information for the mutual
benefit of postsecondary educational institutions and private
businesses.
(10) Coordinate programs established by postsecondary
educational institutions to provide Indiana businesses with
scientific and technological information.
(11) Establish programs in scientific education that will support
the accelerated development of technology intensive businesses
in Indiana.
(12) Provide financial assistance through contracts, grants, and
loans to programs of scientific and technological research and
development.
(13) Determine how state educational institutions can increase
income derived from the sale or licensure of products or
processes having commercial value that are developed as a
result of state educational institution sponsored research
programs. 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 and
technology corporation under authority of IC 4-3-1 (before its repeal)
do not represent or constitute a debt of the state within the meaning
of the Constitution of the State of Indiana or Indiana statutes. The
corporation may not incur debt under this chapter. However, the
corporation shall assume the debt of the business modernization and
technology corporation that is outstanding on the date the business
modernization 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 the
creation 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.
