Sec. 14. (a) The Indiana recycling promotion and assistance fund is established. The purpose of the fund is to promote and assist recycling throughout Indiana by focusing economic development efforts on businesses and projects involving recycling. The fund shall be administered by the board.
(b) Sources of money for the fund consist of the following:
(1) Appropriations from the general assembly.
(2) Repayment proceeds of loans made from the fund.
(3) Gifts and donations.
(4) Money from the solid waste management fund.
(5) Variable recycling fee revenue deposited under IC 13-20.5-2-1.
(c) Money remaining in the fund at the end of a state fiscal year does not revert to the state general fund.
(d) The board may use money in the fund to make loans to assist:
(1) persons in establishing new recycling businesses;
(2) in the expansion of existing recycling businesses; and
(3) manufacturers in retrofitting equipment necessary to reuse or recycle secondary materials.
(e) The board shall establish loan:
(1) amounts;
(2) terms; and
(3) interest rates.
(f) The board may use money in the fund to make grants for research and development projects involving recycling. The board shall establish amounts for grants.
(g) A person, business, or manufacturer that wants a grant or loan from the fund must file an application with the board.
(h) The board shall establish criteria for awarding grants and loans under this section.
(i) The board may transfer money in the fund to the state solid waste management fund established by IC 13-20-22-2 for use by the department of environmental management to make payments under IC 13-20-17.7-6.
As added by P.L.10-1990, SEC.9. Amended by P.L.170-2006, SEC.1; P.L.178-2009, SEC.2.