{"data":{"id":"us-in/ic-4-10-18-16","jurisdiction":"us-in","citation":"IC 4-10-18-16","heading":"Grants","body":"Sec. 16. (a) Grants to or on behalf of political subdivisions for qualified economic growth initiatives shall be made by the Indiana economic development corporation established by IC 5-28-3-1.\n(b) Each grant shall be made under a grant agreement by and between:\n(1) the Indiana economic development corporation; and\n(2) the political subdivision proposing the economic growth initiative or the person (as defined in IC 36-1-2-12) acting on behalf of the political subdivision.\n(c) Each grant agreement shall describe in detail:\n(1) the qualified economic growth initiative;\n(2) the financing plan by the political subdivision proposing the economic growth initiative or by the person acting on behalf of the political subdivision; and\n(3) the estimated cost of the economic growth initiative and all sources of money for the initiative.\n(d) The Indiana economic development corporation may not execute and deliver a grant agreement under this section, and no money may be disbursed from the economic growth initiatives account, until the grant agreement has been:\n(1) reviewed by the budget committee established by IC 4-12-1-3; and\n(2) approved by the budget agency established by IC 4-12-1-3.\n(e) In addition to the requirements of subsection (d), no money may be disbursed for a grant from the economic growth initiatives account without an appropriation made by the general assembly for that purpose, unless the grant is for a qualified economic growth initiative for a government building that is to be occupied by an agency of the federal government.\n(f) Not more than twenty-five percent (25%) of any grant may be used for training or retraining employees whose jobs will be created or retained as a result of the economic growth initiative.","path":["TITLE 4. STATE OFFICES AND ADMINISTRATION","ARTICLE 10. STATE FUNDS GENERALLY","Chapter 18. The Counter-Cyclical Revenue and Economic Stabilization Fund"],"source_url":"https://iga.in.gov/ic/2026/Title_4.html#4-10-18-16","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-30T06:26:00Z","sha256":"189c143cd79804511c4b7fe4edd4d1c41b1a73fcedee446ccc38abdcd98cd558","source_id":"us-in","stale":false,"prev":"us-in/ic-4-10-18-15","next":"us-in/ic-4-10-21-1"},"notice":"GroundRules: Original legal text. Not legal advice."}