Rural broadband fund

Sec. 11. (a) The rural broadband fund is established for the purpose of: (1) awarding grants under: (A) this chapter after July 31, 2019; and (B) IC 4-4-38 before August 1, 2019; (2) providing financial assistance under the program established by the office under section 10.5 of this chapter for expenses described in section 10.5(b) of this chapter incurred before July 1, 2025; (3) providing funding for the creation and annual maintenance of the public broadband portal created and administered by the office under IC 4-4-41-8; and (4) awarding grants under the Indiana broadband connectivity program under IC 4-4-41. (b) The office shall administer the fund. (c) The fund consists of: (1) money appropriated by the general assembly; (2) money received by the office from federal grants or programs for broadband infrastructure, other than money received by the state under the federal Broadband Equity, Access, and Deployment Program established under 47 U.S.C. 1702(b); and (3) donations, gifts, and money received from any other source, including transfers from other funds or accounts. (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. (e) Money in the fund at the end of a state fiscal year does not revert to the state general fund but remains in the fund to be used exclusively for the purposes of this chapter and IC 4-4-38.