Economic development payments; deposits
Ind. Code § 4-33-23-13
in effectSec. 13. (a) Any recipient of an economic development payment must deposit the economic development payment into a separate and segregated bank account not later than five (5) days after its receipt.
(b) The bank account referenced in subsection (a):
(1) must allow expenditures only in accordance with the terms of the development agreement;
(2) must be used to account for and report the proceeds of economic development payments; and
(3) must be maintained at an FDIC insured bank that is located in and has a corporate presence in the State of Indiana.
As added by P.L.82-2011, 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