Indiana Code
Chapter 4. Account Program Fund and Accounts
20-51.4-4-3. Indiana Education Scholarship Account Program Fund; Uses; Administration

Sec. 3. (a) The Indiana education scholarship account program fund is established for the purpose of providing grants to eligible students under the program. Money appropriated to the fund during the state fiscal year beginning July 1, 2021, and ending June 30, 2022, may only be used for the administrative costs to establish the program. However, money appropriated to the fund during the state fiscal year beginning July 1, 2022, and ending June 30, 2023, may be used to provide grants under this chapter in the manner prescribed in section 2 of this chapter.
(b) The treasurer of state shall administer the fund.
(c) The fund consists of the following:
(1) Appropriations by the general assembly.
(2) Interest deposited in the fund under subsection (d).
(3) Donations, gifts, and money received from any other source, including transfers from other funds or accounts.
(4) Amounts transferred to the fund from the Indiana education scholarship account administration fund under section 3.5(e) of this chapter.
(d) The treasurer of state shall invest money in the fund not currently needed to meet the obligations of the fund in the same manner as other public money may be invested. Interest that accrues from these investments shall be deposited in the fund.
(e) Money in the fund at the end of a state fiscal year reverts to the state general fund.
As added by P.L.165-2021, SEC.180. Amended by P.L.132-2022, SEC.6.

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