5-28-41-15. Application Process
Sec. 15. (a) An eligible regional economic acceleration and development organization may submit an application to the corporation for a grant or loan from the fund. (b) An application for a grant or loan from the fund must be made on an application form prescribed by the board. (c) An applicant shall provide all information […]
5-28-41-16. Policy Framework for a Readi Program; Approval by the Board; Review by the Budget Committee
Sec. 16. (a) Before July 1, 2021, the corporation shall develop a policy that establishes the framework for a READI program. (b) The policy developed by the corporation shall include detailed information outlining: (1) the entities that are eligible to submit applications for a grant or loan from the fund; (2) the elements of a […]
5-28-41-5. “Readi”
Sec. 5. As used in this chapter, “READI” refers to the regional economic acceleration and development initiative. As added by P.L.165-2021, SEC.64.
5-28-41-6. “Regional Economic Acceleration and Development Strategy”
Sec. 6. As used in this chapter, “regional economic acceleration and development strategy” refers to: (1) a development plan prepared by a development authority under IC 36-7.5-3-4, IC 36-7.6-3-5, or IC 36-7.7-3-4; (2) a comprehensive economic development strategy developed by an eligible regional economic acceleration and development organization; or (3) plans and policies developed by […]
5-28-41-7. Readi Fund; Purposes
Sec. 7. The READI fund is established within the state treasury to do the following: (1) Support the corporation’s READI program. (2) Provide grants or loans to support proposals for economic development and regional economic acceleration and development. As added by P.L.165-2021, SEC.64.
5-28-41-8. Fund Contents
Sec. 8. The fund consists of: (1) appropriations from the general assembly; (2) grants, gifts, and donations intended for deposit in the fund; (3) interest deposited into the fund under section 10 of this chapter; and (4) loan repayments. As added by P.L.165-2021, SEC.64.
5-28-41-9. Administration of the Fund
Sec. 9. The corporation shall administer the fund. The following may be paid from money in the fund: (1) Expenses of administering the fund. (2) Administrative expenses incurred to carry out the purposes of this chapter. As added by P.L.165-2021, SEC.64.
5-28-41-10. Investment of Money in the Fund
Sec. 10. The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested. Interest that accrues from these investments shall be deposited in the state general fund. Interest from loans made under this chapter […]
5-28-41-11. Reversion
Sec. 11. (a) Money in the fund at the end of a state fiscal year does not revert to the state general fund. (b) Money in the fund is continuously appropriated for the purposes of this chapter. As added by P.L.165-2021, SEC.64.
5-28-41-12. Powers of the Board
Sec. 12. The board has the following powers: (1) To accept, analyze, approve, and deny applications under this chapter. (2) To contract with experts for advice and counsel. (3) To employ staff to assist in carrying out this chapter, including the following: (A) Providing assistance to applicants that wish to apply for a grant or […]