The purpose of the fund is to provide loan repayment for student loans incurred by health care professionals to encourage the delivery of health care in shortage areas. The state department shall administer the fund.(b) The fund consists of the following:(1) Appropriations by the general assembly.(2) Repayments by loan recipients from the Indiana medical and nursing distribution loan fund under IC 25-22.5-9 (repealed July 1, 1987).(3) Gifts to the fund.(4) Grants from public or private sources.(c) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund.(d) Money in the fund at the end of a state fiscal year does not revert to the state general fund.(e) The fund shall be used to do the following:(1) Provide loan repayment under this chapter.(2) Pay the costs incurred by the state department in administering this chapter.The administrative costs paid from the fund under subdivision (2) may not exceed thirty thousand dollars ($30,000) per year.[Pre-1993 Recodification Citation: 16-3-6-6.]As added by P.L.2-1993, SEC.29. he administrative costs paid from the fund under subdivision (2) may not exceed thirty thousand dollars ($30,000) per year.[Pre-1993 Recodification Citation: 16-3-6-6.]As added by P.L.2-1993, SEC.29. Amended by P.L.72-2001, SEC.5; P.L.122-2012, SEC.8.
Indiana Legal Code