{"data":{"id":"us-in/ic-5-28-10-15","jurisdiction":"us-in","citation":"IC 5-28-10-15","heading":"\"Operating expenditures\"; amount and use of grants","body":"Sec. 15. (a) For purposes of this section, \"operating expenditures\" includes the following:\n(1) Business plans.\n(2) Marketing studies.\n(3) Mentor identification.\n(4) Securitization of capital.\n(5) Legal services.\n(6) Other necessary services.\n(b) The total of all grants provided under this chapter for a technology park may not exceed the following:\n(1) Two million dollars ($2,000,000) for the leasing, construction, or purchase of capital assets.\n(2) Two million dollars ($2,000,000) for operating expenditures, and, subject to subsection (d), with not more than five hundred thousand dollars ($500,000) being distributed in any one (1) fiscal year.\n(c) This subsection applies to a grant provided under subsection (b)(1) for the leasing of a capital asset. The grant may be applied only to lease payments made during:\n(1) the fiscal year; or\n(2) each of the three (3) fiscal years immediately following the fiscal year;\nin which the grant is provided.\n(d) The annual distribution of a grant under subsection (b)(2) may not exceed the following:\n(1) Eighty percent (80%) of total operating expenditures in the fiscal year in which the grant is provided.\n(2) Sixty percent (60%) of total operating expenditures in the fiscal year after the fiscal year in which the grant is provided.\n(3) Forty percent (40%) of total operating expenditures in the second fiscal year after the fiscal year in which the grant is provided.\n(4) Twenty percent (20%) of total operating expenditures in the third fiscal year after the fiscal year in which the grant is provided.","path":["TITLE 5. STATE AND LOCAL ADMINISTRATION","ARTICLE 28. INDIANA ECONOMIC DEVELOPMENT CORPORATION","Chapter 10. Technology Development Grant Fund"],"source_url":"https://iga.in.gov/ic/2026/Title_5.html#5-28-10-15","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-02T16:11:39Z","sha256":"526d19972dfafe81ceebd9b9312f1dfef550535ea5327c1bb0376f21ad3301ff","source_id":"us-in","stale":false,"prev":"us-in/ic-5-28-10-14","next":"us-in/ic-5-28-10-16"},"notice":"GroundRules: Original legal text. Not legal advice."}