Sec. 10.5. (a) The carbon sequestration project program administrative fund is established for the purpose of defraying the cost of administrative expenses incurred by the department to manage and operate the carbon sequestration project program. The fund shall be administered by the department. (b) The fund consists of the following: (1) Money deposited in or distributed to the fund under this article. (2) Donations, gifts, grants, and money received from any other source, including appropriations or transfers from other funds or accounts. (c) The expenses of administering the fund shall be paid from money in the fund. (d) Money in the fund at the end of a state fiscal year does not revert to the state general fund. However, if the amount of money in the fund at the end of a particular fiscal year exceeds seven hundred fifty thousand dollars ($750,000), the treasurer of state shall transfer the excess in the fund to the state general fund.
‹ Prev All Indiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.