Sec. 5. (a) For each state fiscal year beginning after June 30, 2019, until a district expires under section 3 of this chapter, if a district board applies for a grant under section 8(a)(3) of this chapter, the corporation shall, before September 1, make a determination on grants from the Indiana twenty-first century research and technology fund established under IC 5-28-16-2 to a district board established in:
(1) the city of Lafayette; and
(2) the city of Fort Wayne.
(b) The total amount of grant money that a district board established in the city of Lafayette may receive during a state fiscal year may not exceed one million dollars ($1,000,000).
(c) The total amount of grant money that a district board established in the city of Fort Wayne may receive during a state fiscal year may not exceed one million dollars ($1,000,000).
(d) Except as provided in subsection (e), one hundred percent (100%) of grant money awarded to a district board under this section must be used by the district board for programs or projects that support entrepreneurship, small business development, technology development, and innovation.
(e) A district board may use grant money awarded under this section to reimburse itself for costs incurred before the grant money was awarded if the costs are attributable to the purposes described in subsection (d).
(f) The corporation may develop guidelines, without complying with IC 4-22-2, for awarding grants under this section.
As added by P.L.238-2017, SEC.4. Amended by P.L.194-2019, SEC.2.
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