Sec. 5. (a) The state disaster relief fund is established to provide financial assistance to:
(1) assist eligible entities in paying for:
(A) the costs of repairing, replacing, or restoring public facilities or individual residential real or personal property damaged or destroyed by a disaster; or
(B) response costs incurred by an eligible entity during a disaster; and
(2) allow the agency to pay for response costs incurred by the state or a local unit of government at the direction of the agency.
The agency may provide financial assistance in response to a disaster only from the balance in the fund that is unobligated on the date the disaster occurs.
(b) The fund consists of the following:
(1) Money appropriated by the general assembly.
(2) Money deposited under IC 22-11-14-12(c)(2).
(c) The agency shall administer the fund. Expenses of administering the fund shall be paid from money in the fund. The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested.
(d) Money in the fund at the end of a state fiscal year does not revert to the state general fund.
[Pre-2003 Recodification Citations: 10-4-1-29(d); 10-4-1-29(e); 10-4-1-29(f).]
As added by P.L.2-2003, SEC.5. Amended by P.L.107-2007, SEC.2; P.L.57-2008, SEC.2.