Sec. 7. (a) There is established the affordable housing and community development fund. The fund shall be administered by the authority under the direction of the authority's board.
(b) The fund consists of the following resources:
(1) Appropriations from the general assembly.
(2) Gifts, grants, and donations of any tangible or intangible property from public or private sources.
(3) Investment income earned on the fund's assets.
(4) Repayments of loans from the fund.
(5) Funds borrowed from the board for depositories insurance fund (IC 5-13-12-7).
(6) Money deposited in the fund under IC 6-7-2-17 and IC 36-2-7-10.
(c) 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.
(d) The money remaining in the fund at the end of a fiscal year does not revert to the state general fund.
(e) Interest earned on the fund may be used by the authority to pay expenses incurred in the administration of the fund.
As added by P.L.69-1989, SEC.4. Amended by P.L.27-1993, SEC.17; P.L.1-2006, SEC.114; P.L.181-2006, SEC.31; P.L.1-2007, SEC.32; P.L.211-2007, SEC.1; P.L.234-2007, SEC.200; P.L.3-2008, SEC.31.
Structure Indiana Code
Title 5. State and Local Administration
Chapter 4. Affordable Housing and Community Development Fund
5-20-4-3. "Housing and Community Development Authority"
5-20-4-5. "Lower Income Families"
5-20-4-6. "Very Low Income Families"
5-20-4-8. Financial Assistance; Form; Allocation
5-20-4-9. Terms of Loans From Board for Depositories Insurance Fund
5-20-4-10.1. Repayment of Loans; Procedures
5-20-4-11. Allocation of Fund Resources
5-20-4-12. Occupancy of Housing Developed With Fund Resources
5-20-4-13. Developer Certification of Compliance With Federal Requirements
5-20-4-14. Policies and Procedures for Implementation of Chapter