Purpose of the fund; use; matching funds requirement;

application Sec. 2. (a) Subject to subsection (b), the money in the fund must be used to provide money to the following: (1) A hospital licensed under IC 16-21 that is seeking to fund a new residency program slot for a qualified individual to complete a residency program in Indiana. (2) A nonprofit organization that: (A) is qualified as tax exempt under Section 501(c)(3) of the Internal Revenue Code; and (B) has the purpose of increasing residency positions in Indiana by funding new residency program slots at hospitals licensed under IC 16-21. (b) A recipient of money from the fund must agree to provide matching funds equal to at least twenty-five percent (25%) of the money provided. (c) The commission shall establish an application process for a person seeking money from the fund. (d) A person receiving funding under this chapter shall provide any information requested by the commission that the commission determines is necessary to administer this chapter. As added by P.L.190-2015, SEC.1.