(a) The tuition and fee exemption reimbursement fund is established to provide reimbursement to state educational institutions and approved postsecondary educational institutions for tuition and fee remissions listed in IC 21-12-13-1 that were provided to eligible applicants.(b) The fund consists of the following:(1) Appropriations made by the general assembly.(2) Gifts, grants, devises, or bequests made to the state to achieve the purposes of the fund.(c) The fund shall be administered by the commission.(d) The expenses of administering the fund shall be paid from money in the fund.(e) 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 are invested.(f) Money in the fund at the end of a state fiscal year does not revert to the state general fund but remains available to be used for providing reimbursement for tuition and fee remissions as provided under subsection (a).As added by P.L.191-2017, SEC.11. Amended by P.L.240-2023, SEC.10.
Indiana Legal Code