Sec. 3.5. (a) The Indiana education scholarship account administration fund is established for the purpose of accepting money for the Indiana education scholarship account program to support administration of the program.
(b) The treasurer of state shall administer the fund.
(c) The fund consists of the following:
(1) Administration fees deposited in the fund under IC 20-51.4-3-7(b).
(2) Donations, gifts, and money received from any other source, including transfers from other funds or accounts.
(3) Interest deposited in the fund under subsection (d).
(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) The treasurer of state may transfer any funds held in the fund to the Indiana education scholarship account program fund established by section 3 of this chapter at any time for the purpose of that fund.
As added by P.L.132-2022, SEC.7.
Structure Indiana Code
Article 51.4. Indiana Education Scholarship Account Program
Chapter 4. Account Program Fund and Accounts
20-51.4-4-1. Establishment of Accounts; Application Process; Agreement
20-51.4-4-2. Eligibility for Grant Amount; Termination of an Account
20-51.4-4-3. Indiana Education Scholarship Account Program Fund; Uses; Administration
20-51.4-4-4. Calculation of Annual Grant Amount
20-51.4-4-5. Proration of Grant Amount
20-51.4-4-6. Notice to Parent; Written Explanation of Authorized Uses
20-51.4-4-7. Limitation on Use of Grant Amount for Transportation Fees
20-51.4-4-8. Payment of Qualified Expenses From Other Sources
20-51.4-4-10. Freezing of an Account; Notice; Petition; Termination
20-51.4-4-11. Public School Not Required to Provide Services
20-51.4-4-12. Tax Treatment; Qualification for Other Programs