Note: This version of section amended by P.L.202-2023, SEC.51, effective 7-1-2023. See also preceding version of this section amended by P.L.201-2023, SEC.221, effective 5-4-2023.Sec. 3. (a) The Indiana education scholarship account program fund is established for the purpose of providing grants to eligible students under the ESA program. Money appropriated to the fund may be used to provide grants under this chapter in the manner prescribed in section 2 of this chapter.(b) The treasurer of state shall administer the ESA program fund.(c) The ESA program fund consists of the following:(1) Appropriations by the general assembly.(2) Interest deposited in the ESA program fund under subsection (d).(3) Donations, gifts, and money received from any other source, including transfers from other funds or accounts.(4) Amounts transferred to the ESA program fund from the Indiana education scholarship account administration fund under section 3.5(e) of this chapter.(d) The treasurer of state shall invest money in the ESA program fund not currently needed to meet the obligations of the ESA program fund in the same manner as other public money may be invested. er.(d) The treasurer of state shall invest money in the ESA program fund not currently needed to meet the obligations of the ESA program fund in the same manner as other public money may be invested. Interest that accrues from these investments shall be deposited in the ESA program fund.(e) Money in the ESA program fund at the end of a state fiscal year reverts to the state general fund.As added by P.L.165-2021, SEC.180. Amended by P.L.132-2022, SEC.6; P.L.202-2023, SEC.51.
Indiana Legal Code