Sec. 3. (a) The director may enter into agreements with the United States Secretary of Agriculture under Section 2(f) of Public Law 499, 81st Congress, upon the terms and conditions and for periods as may be mutually agreeable, authorizing the United States Secretary of Agriculture to accept, administer, expend, and use in Indiana all or any part of the trust assets or any other funds of the state of Indiana that may be appropriated to use in carrying out the purposes of Titles 1 and 2 of the Bankhead-Jones Farm Tenant Act, in accordance with the applicable provisions of Title 4 of the Bankhead-Jones Farm Tenant Act, as amended.
(b) The director shall provide in an agreement with the United States Secretary of Agriculture under this section:
(1) that all of the funds shall be administered through the Farmer's Home Administration;
(2) that only three percent (3%) of the book value of the assets transferred may be used for administrative purposes; and
(3) that the Farmer's Home Administration may do any and all things necessary to effectuate and carry out the purposes of agreements under this section.
[Pre-2008 Recodification Citation: 15-7-2-2.]
As added by P.L.2-2008, SEC.3.
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