5-28-8-1. “Federal Agency”

Sec. 1. As used in this chapter, “federal agency” means the Economic Development Administration of the United States Department of Commerce. As added by P.L.4-2005, SEC.34.

5-28-8-10. Applications for Loans; Repayment

Sec. 10. (a) A qualified entity may apply to the corporation for a loan from the fund to be used for economic development programs. (b) An amount loaned to a qualified entity is an obligation of the qualified entity and shall be repaid to the corporation within a time to be fixed by the corporation, […]

5-28-8-2. “Federal Program”

Sec. 2. As used in this chapter, “federal program” means a federal loan or grant program that promotes economic development. As added by P.L.4-2005, SEC.34.

5-28-8-3. “Fund”

Sec. 3. As used in this chapter, “fund” refers to the economic development fund established by section 5 of this chapter. As added by P.L.4-2005, SEC.34.

5-28-8-4. “Qualified Entity”

Sec. 4. As used in this chapter, “qualified entity” means: (1) the state; (2) a political subdivision of the state; (3) an agency of the state or a political subdivision of the state; (4) a nonprofit corporation; (5) the Indiana finance authority established by IC 5-1.2-3; or (6) any of the following local economic development […]

5-28-8-5. Fund Established; Purpose

Sec. 5. (a) The economic development fund is established within the state treasury. The fund is a revolving fund to provide grants and loans for economic development activities in Indiana for the purposes of this chapter. (b) The fund consists of appropriations from the general assembly and loan repayments. (c) The corporation shall administer the […]

5-28-8-6. Investment of Fund by Treasurer of State

Sec. 6. (a) 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 fund. (b) The treasurer of state shall also: (1) […]

5-28-8-7. Drawing of Warrants

Sec. 7. The auditor of state shall draw warrants on the treasurer of state in payment of properly prepared vouchers signed by the secretary of commerce or the secretary of commerce’s designee. As added by P.L.4-2005, SEC.34. Amended by P.L.74-2020, SEC.5.

5-28-8-8. Guidelines for Receipt of Grants and Loans

Sec. 8. (a) The corporation shall receive grants allocated by a federal program for the purposes specified in section 9(c) of this chapter. Guidelines shall be prepared by the corporation enumerating the qualification procedures for receipt of grants and loans from the fund. These guidelines must be consistent with Indiana law and federal program requirements. […]

5-28-8-9. Applications for Grants; Approved Projects

Sec. 9. (a) If federal money will not be used in conjunction with fund money, a qualified entity that wants a grant from the fund must submit an application for the grant to the corporation. The corporation shall review the application and may approve the application if the activities for which the grant money is […]