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4-4-38.5-11. Rural broadband fund

IN Code § 4-4-38.5-11 (2019) (N/A)
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Sec. 11. (a) The rural broadband fund is established for the purpose of awarding grants under:

(1) this chapter after July 31, 2019; and

(2) IC 4-4-38 before August 1, 2019.

(b) The office shall administer the fund.

(c) The fund consists of:

(1) money appropriated by the general assembly;

(2) money received by the office from federal grants or programs for broadband infrastructure; and

(3) donations, gifts, and money received from any other source, including transfers from other funds or accounts.

(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.

(e) Money in the fund at the end of a state fiscal year does not revert to the state general fund but remains in the fund to be used exclusively for the purposes of this chapter and IC 4-4-38.

As added by P.L.189-2019, SEC.7.

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4-4-38.5-12. Awarding of grants after July 31, 2019; limitation on transfer of assets; grant agreement required; funds conditioned on project completion