Sec. 7. (a) If the corporation determines that a business, school corporation, or charter school that has received public funds from a grant award under this chapter is not entitled to the public funds received from the grant award because of the business's, school corporation's, or charter school's noncompliance with the requirements of its grant agreement or any of the provisions of this chapter, the corporation shall, after giving notice to the business, school corporation, or charter school and an opportunity to explain the noncompliance, provide the business, school corporation, or charter school with a written demand for the return or repayment of an amount not to exceed the sum of all grants previously awarded to the business, school corporation, or charter school under this chapter, together with interest and penalties required or permitted by law or required by the agreement with the corporation.

(b) Upon receipt of the corporation's written demand under subsection (a), the business, school corporation, or charter school shall return or repay the amount demanded by the corporation.

(c) If a business, school corporation, or charter school fails to repay the corporation as required under subsection (b), the corporation may notify the department of state revenue of the noncompliance and request that the department of state revenue exercise the department's authority under IC 6-8.1-9.5 to recover the sum of all grants previously awarded to the business, school corporation, or charter school under this chapter, together with any interest, penalties, and fees required or permitted by law or required by the agreement with the corporation.

(d) For purposes of this chapter, the corporation shall be considered a claimant agency under IC 6-8.1-9.5-1, and is authorized to participate in the refund set off program under IC 6-8.1-9.5.

As added by P.L.146-2018, SEC.2.