(a) If a political subdivision other than a school corporation receives state grant money requiring local matching money, the political subdivision shall create a special fund and deposit the grant money and matching money into the special fund. The money in the fund may be used only for the purposes of the grant.(b) If a political subdivision completes the project for which the state grant money was provided and money remains in the fund:(1) the political subdivision shall transfer the state's share of the remaining money to the treasurer of state for deposit in the fund from which the grant was made; and(2) the political subdivision's pro rata share of the remaining money reverts to the political subdivision's general fund.As added by P.L.10-1997, SEC.25. Amended by P.L.68-2001, SEC.9.
Indiana Legal Code