Title 5, TITLE 5. STATE AND LOCAL ADMINISTRATION

Sec. 1. (a) This chapter applies only to personal property owned by a governmental body that is a state agency. (b) This chapter does not apply to the following: (1) The sale of timber by the department of natural resources under IC 14-23-4. (2) The satisfaction of a lien or judg…

Sec. 10. (a) The proceeds of a sale under this chapter or under IC 5-22-22 shall be deposited in the state treasury and credited to the fund from which the property was purchased. (b) The proceeds are subject to allotment by the budget agency with the approval of the governor. As…

Sec. 11. The commissioner may prohibit any of the following from bidding on property sold under this chapter or IC 5-22-22 when a state employee has participated in the disposal process of the state agency that has possession of the property: (1) The state employee. (2) The spous…

Sec. 2. As used in this chapter, "commissioner" refers to the commissioner of the department. As added by P.L.49-1997, SEC.1.

Sec. 3. As used in this chapter, "department" refers to the Indiana department of administration created by IC 4-13-1-2. As added by P.L.49-1997, SEC.1.

Sec. 4. As used in this chapter, "surplus property" means property that is not usable by a state agency as determined under this chapter. As added by P.L.49-1997, SEC.1.

Sec. 5. Subject to IC 8-23-7 and this chapter, all sales of property belonging to a state agency, other than property: (1) on which allowance is made on another purchase with the written approval of the commissioner; or (2) whose disposition is otherwise provided for in this chap…

Sec. 7. Except as provided in section 7.5 of this chapter, surplus property available for sale may, under the policies prescribed by the budget agency, be offered for sale to political subdivisions. The policies of the budget agency must require that if the property is in the pos…

Sec. 7.5. (a) This section applies to surplus computer hardware that: (1) is not usable by a state agency as determined under section 6 of this chapter; and (2) has market value. (b) As used in this section, "educational entity" refers to a school corporation as defined in IC 36-…

Sec. 7.6. (a) This section applies to surplus computer hardware that is: (1) not usable by a state agency as determined under section 6 of this chapter; and (2) not sold to an educational entity or political subdivision after being offered for sale. (b) The department may donate …

Sec. 8. If a political subdivision does not purchase surplus property under section 7 of this chapter, the surplus property shall be sold under IC 5-22-22. As added by P.L.49-1997, SEC.1.

Sec. 9. A sale of property under this chapter or under IC 5-22-22 must be made for cash. As added by P.L.49-1997, SEC.1.

Sec. 1. As used in this chapter, "economically disadvantaged area" has the meaning set forth in IC 6-3.1-9-1. As added by P.L.4-2005, SEC.34.

Sec. 10. A grant under this chapter may not exceed the lesser of: (1) fifty percent (50%) of the total eligible project costs; or (2) two hundred fifty thousand dollars ($250,000). As added by P.L.4-2005, SEC.34.

Sec. 11. An applicant for a grant may only use the grant in an economically disadvantaged area. As added by P.L.4-2005, SEC.34.

Sec. 12. A loan or loan guarantee under this chapter may not exceed the lesser of: (1) fifty percent (50%) of the total eligible project costs; or (2) five hundred thousand dollars ($500,000). As added by P.L.4-2005, SEC.34.

Sec. 13. An applicant may apply for both a grant and a loan or loan guarantee, but the combined grant and loan or loan guarantee may not exceed five hundred thousand dollars ($500,000). As added by P.L.4-2005, SEC.34.

Sec. 14. (a) A loan under this chapter must be secured by liens on collateral at the highest level of priority that can accommodate the borrower's ability to raise sufficient debt and equity capital. (b) A financial institution holding an obligation that is guaranteed under this …

Sec. 15. A grant, loan, or loan guarantee for an incubator in a facility that is leased may be made only if the applicant intends to buy the facility. A loan or loan guarantee must be secured by a leasehold mortgage. As added by P.L.4-2005, SEC.34.

Sec. 16. The corporation may defer payment of interest and principal on a loan under this chapter for not more than two (2) years. As added by P.L.4-2005, SEC.34.

Sec. 17. In order to establish a rate of interest for a loan under this chapter, the corporation shall select a nationally recognized index of municipal bond averages and a date not less than one (1) month nor more than two (2) months before the granting of the loan. The rate of …

Sec. 18. A loan or loan guarantee under this chapter may not exceed the lesser of: (1) ten (10) years; or (2) the useful life of the property for which the loan is granted or guaranteed, as determined by the United States Department of the Treasury. As added by P.L.4-2005, SEC.34…

Sec. 19. A sponsor or an organization receiving assistance through a sponsor has the following duties in establishing and operating a small business incubator with assistance under this chapter: (1) Securing title to the facility or leasing the facility with the intent to secure …

Sec. 2. As used in this chapter, "fund" refers to the small business incubator fund established by section 6 of this chapter. As added by P.L.4-2005, SEC.34.

Sec. 20. The corporation has the following duties under this chapter: (1) Making grants, loans, and loan guarantees to sponsors for small business incubators. (2) Ensuring that sponsors receiving grants, loans, or loan guarantees meet the conditions of this chapter. (3) Receiving…

Sec. 22. The corporation may establish one (1) or more advisory committees to assist the corporation in implementing this chapter. Advisory committee members may not be affiliated financially with a sponsor or tenant and must represent fields that can contribute to the sound oper…

Sec. 3. As used in this chapter, "incubator" means a facility in which space may be leased by a tenant and in which management provides access to business development services for use by tenants. As added by P.L.4-2005, SEC.34.

Sec. 4. As used in this chapter, "sponsor" means an organization that enters into a written agreement with the corporation to: (1) establish, operate, and administer a small business incubator; or (2) provide funding to an organization that operates a small business incubator. As…

Sec. 5. As used in this chapter, "tenant" means a sole proprietorship, partnership, limited liability company, or corporation operating a business and occupying space in an incubator. As added by P.L.4-2005, SEC.34.

nonreversion Sec. 6. (a) The small business incubator fund is established within the state treasury. The fund is a revolving fund. The fund shall be used to provide grants, loans, and loan guarantees under this chapter. (b) The fund consists of appropriations from the general ass…

Sec. 7. A political subdivision (as defined in IC 36-1-2-13), a nonprofit organization, or a for-profit organization may submit an application to the corporation to obtain a grant, loan, or loan guarantee to establish a small business incubator. The application must: (1) describe…

Sec. 8. The corporation shall award grants, loans, and loan guarantees based on the following criteria: (1) The ability of the applicant to comply with section 19 of this chapter. (2) The economic impact of the incubator on the community. (3) Conformance with any areawide and loc…

Sec. 9. Grants and loans awarded or guaranteed under this chapter may be used only for the following purposes, when necessary for the creation and operation of an incubator: (1) The acquisition and leasing of land and existing buildings. (2) The construction or rehabilitation of …