Sec. 16. (a) Grants to or on behalf of political subdivisions for qualified economic growth initiatives shall be made by the Indiana economic development corporation established by IC 5-28-3-1 . (b) Each grant shall be made under a grant agreement by and between: (1) the Indiana economic development corporation; and (2) the political subdivision proposing the economic growth initiative or the person (as defined in IC 36-1-2-12 ) acting on behalf of the political subdivision. (c) Each grant agreement shall describe in detail: (1) the qualified economic growth initiative; (2) the financing plan by the political subdivision proposing the economic growth initiative or by the person acting on behalf of the political subdivision; and (3) the estimated cost of the economic growth initiative and all sources of money for the initiative. (d) The Indiana economic development corporation may not execute and deliver a grant agreement under this section, and no money may be disbursed from the economic growth initiatives account, until the grant agreement has been: (1) reviewed by the budget committee established by IC 4-12-1-3 ; and (2) approved by the budget agency established by IC 4-12-1-3 . (e) In addition to the requirements of subsection (d), no money may be disbursed for a grant from the economic growth initiatives account without an appropriation made by the general assembly for that purpose, unless the grant is for a qualified economic growth initiative for a government building that is to be occupied by an agency of the federal government. (f) Not more than twenty-five percent (25%) of any grant may be used for training or retraining employees whose jobs will be created or retained as a result of the economic growth initiative. IC 4-10-19 Chapter 19. Repealed IC 4-10-21 Chapter 21. Business Cycle State Spending Controls 4-10-21-1 "State spending cap" defined 4-10-21-2 State spending cap formula 4-10-21-3 State spending growth quotient; calculation by budget agency 4-10-21-4 Determination of Indiana nonfarm personal income 4-10-21-5 Prohibition on spending exceeding state spending cap 4-10-21-6 Exclusions from state spending cap 4-10-21-7 Exemptions by action of general assembly 4-10-21-8 Annual report; budget agency
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