Section 9-18.5-28-5 - Capital projects fund(a) The capital projects fund is established.(b) The treasurer of state shall invest the money in the capital projects fund not currently needed to meet the obligations of the capital projects fund in the same manner as other public funds are invested. Money in the fund is continuously appropriated for the purposes of this section.(c) The budget director shall administer the capital projects fund. Expenses of administering the capital projects fund shall be paid from money in the capital projects fund.(d) On:(1) June 30 of every year; or(2) any other date designated by the budget director; an amount designated by the budget director shall be transferred from the fund to the state general fund, a capital improvement board of managers created by IC 36-10-9, or the designee chosen by the budget director under IC 5-1-17-28.
(e) Money in the fund at the end of a state fiscal year does not revert to the state general fund.Pre-2016 Revision Citation: 9-18-49-5.
Added by P.L. 198-2016, SEC. 327, eff. 7/1/2016.