Sec. 1. (a) The medical residency education fund is established to:
(1) expand medical education in Indiana; and
(2) encourage and promote qualified individuals to complete a residency program in Indiana.
(b) The fund consists of the following:
(1) Appropriations by the general assembly.
(2) Gifts to the fund.
(c) The commission shall administer the fund. The expenses of administering the fund shall be paid from money in the fund.
(d) 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. Interest that accrues from those investments shall be deposited in the fund.
(e) Money in the fund at the end of a fiscal year does not revert to the state general fund but remains available to be used to provide money to fund residency program slots as described under this chapter.
As added by P.L.190-2015, SEC.1.