Sec. 13. (a) Notwithstanding section 12 of this chapter, the board may establish a nonprofit subsidiary corporation to solicit and accept private sector funding, gifts, donations, bequests, devises, and contributions. (b) A subsidiary corporation established under this section: (1) must use money received under subsection (a) to carry out in any manner the purposes and programs under this article; (2) must report to the budget committee each year concerning: (A) the use of money received under subsection (a); and (B) the balances in any accounts or funds established by the subsidiary corporation; and (3) may deposit money received under subsection (a) in an account or fund that is: (A) administered by the subsidiary corporation; and (B) not part of the state treasury. (c) Except as provided in IC 5-11-1-9 (k), the state board of accounts shall audit a subsidiary corporation established under this section.
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