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Indiana Code Title 5. State and Local Administration § 5-33-6.5-8

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 8. (a) The statewide sports and tourism bid fund is established for the purpose of distributing funds in the form of a grant to the Indiana Sports Corporation to be used by the Indiana Sports Corporation:

(1) to organize and hold events;  and

(2) to make grants to other eligible entities for the purpose of organizing and holding events;

in Indiana.

(b) The fund consists of:

(1) appropriations from the general assembly;  and

(2) grants, gifts, and donations intended for deposit in the fund.

(c) The corporation shall administer the fund.

(d) 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.

(e) Not later July 15 of the first year of the biennium, the corporation shall distribute to the Indiana Sports Corporation a grant amount equal to the amount appropriated by the general assembly to the fund for the state fiscal year.

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Cite this article: FindLaw.com - Indiana Code Title 5. State and Local Administration § 5-33-6.5-8 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-5-state-and-local-administration/in-code-sect-5-33-6-5-8/

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