Sec. 14. (a) The outstanding state resource water improvement fund is established. All money collected under section 2 of this chapter and any money accruing to the fund are continuously appropriated to the fund to carry out the purposes of section 2 of this chapter. Money in the fund at the end of a state fiscal year does not revert to the state general fund, unless the outstanding state resource water improvement fund is abolished.
(b) The outstanding state resource water improvement fund shall be administered as follows:
(1) The fund may be used by the department of environmental management to fund projects that will lead to overall improvement to the water quality of the affected outstanding state resource water.
(2) The treasurer of state may invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public money may be invested.
(3) Any interest received accrues to the fund.
(4) The expenses of administering the fund shall be paid from the fund.
(c) If money is disbursed from the outstanding state resource water improvement fund in the previous state fiscal year or the commissioner determines that the fund had a positive balance at the close of the previous state fiscal year, the commissioner shall submit a status report on the fund to the interim study committee on environmental affairs established by IC 2-5-1.3-4, in an electronic format under IC 5-14-6, before November 1. The report must include the following information:
(1) Plans for the use and implementation of the outstanding state resource water improvement fund.
(2) The balance in the fund.
As added by P.L.140-2000, SEC.21. Amended by P.L.78-2009, SEC.17; P.L.53-2014, SEC.125; P.L.130-2018, SEC.64.