Ind. Code ch. 4-23-2.5

Ind. Code ch. 4-23-2.5
in effect

Ind. Code § 4-23-2.5-2 "Commission"

Sec. 2. As used in this chapter, "commission" refers to the Indiana arts commission established by IC 4-23-2. As added by P.L.29-1997, SEC.1.

Ind. Code § 4-23-2.5-3 "Fund"

Sec. 3. As used in this chapter, "fund" refers to the Indiana arts commission trust fund established by section 4 of this chapter. As added by P.L.29-1997, SEC.1.

Ind. Code § 4-23-2.5-4 Purpose of fund; contents

Sec. 4. (a) The Indiana arts commission trust fund is established to support the programs and the administrative budget of the commission. (b) The fund consists of the following: (1) Appropriations of the general assembly from revenue sources determined by the general assembly and in an amount determined by the general assembly. (2) Donations to the fund from public or private sources. (3) Interest and dividends on assets of the fund. (4) Money transferred to the fund from other funds. (5) Fees from the Indiana arts trust license plate issued under IC 9-18-41 (before its expiration) or IC 9-18.5-20. (6) Money from other sources that the commission may acquire. As added by P.L.29-1997, SEC.1. Amended by P.L.118-1998, SEC.1; P.L.133-2012, SEC.11; P.L.198-2016, SEC.8.

Ind. Code § 4-23-2.5-12 Management and development of fund

Sec. 12. (a) The commission shall manage and develop the fund and the assets of the fund. (b) The commission shall do the following: (1) Establish a policy for the investment of assets of the fund. (2) Acquire money for the fund through the solicitation of private or public donations and other revenue producing activities. (3) Perform other tasks consistent with prudent management and development of the fund. As added by P.L.29-1997, SEC.1. Amended by P.L.133-2012, SEC.19.

Ind. Code § 4-23-2.5-13 Administration of fund; investment of money in fund

Sec. 13. (a) Subject to the investment policy of the commission, the treasurer of state shall administer the fund and invest the money in the fund. (b) The expenses of administering the fund and this chapter shall be paid from the fund. (c) 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 trust funds are invested. Interest that accrues from these investments shall be deposited in the fund. As added by P.L.29-1997, SEC.1. Amended by P.L.133-2012, SEC.20.

Ind. Code § 4-23-2.5-14 Appropriations; reversion of money in fund

Sec. 14. (a) An appropriation made by the general assembly to the fund shall be allotted and allocated at the beginning of the fiscal period for which the appropriation is made. (b) Money in the fund at the end of a state fiscal year does not revert to the state general fund or any other fund. As added by P.L.29-1997, SEC.1.

Ind. Code § 4-23-2.5-15 Allocation of money from fund; use of interest and dividends by commission

Sec. 15. (a) The commission has the sole authority to allocate money from the fund to arts providers in Indiana. (b) Subject to other provisions of this chapter, when there is one million dollars ($1,000,000) in the fund there is annually appropriated to the commission all interest and dividend earnings of the fund for projects that the commission designates to accomplish the purposes of the commission under IC 4-23-2. (c) The commission may not use money from the fund to purchase land or structures. As added by P.L.29-1997, SEC.1. Amended by P.L.103-2006, SEC.1.

Ind. Code § 4-23-2.5-16 Annual report

Sec. 16. Before October 1 of each year, the commission shall prepare a report concerning the fund for distribution to the public and the general assembly. A report distributed under this section to the general assembly must be in an electronic format under IC 5-14-6. As added by P.L.29-1997, SEC.1. Amended by P.L.28-2004, SEC.45; P.L.133-2012, SEC.21.

Ind. Code § 4-23-2.5-17 Rules

Sec. 17. The commission may adopt rules under IC 4-22-2 to implement this chapter. As added by P.L.29-1997, SEC.1.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/4Fetched: 10/17/2026

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