Sec. 15. (a) The Indiana energy efficiency loan fund is established for the purpose of assisting Indiana industries and governing bodies (as defined in IC 36-1-12.5-1.5) in undertaking energy efficiency projects. 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, including interest, of loans made from the fund.
(3) Donations, gifts, and money received from any other source, including transfers from other funds or accounts.
(c) Money remaining in the fund at the end of a state fiscal year does not revert to the state general 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 these investments shall be deposited in the fund.
(e) The board shall establish:
(1) amounts, terms, and interest rates for loans under this section; and
(2) criteria for awarding loans under this section.
(f) A person, business, governing body, or manufacturer that wants a loan from the fund must file an application in the manner prescribed by the board.
As added by P.L.24-1993, SEC.2. Amended by P.L.227-1999, SEC.11.