Electronic waste fund; administration; refunds to manufacturers

Sec. 3. (a) The electronic waste fund is established to implement this article. The fund shall be administered by the department. (b) The expenses of administering the fund shall be paid from money in the fund. (c) 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 money may be invested. Interest that accrues from these investments shall be deposited in the fund. (d) Money in the fund at the end of a state fiscal year does not revert to the state general fund. (e) Beginning in 2011 and continuing each year thereafter, as of the last day of the state fiscal year, the department shall determine the total amount of the variable recycling fees that were collected for that state fiscal year under section 1(c) of this chapter. (f) Except as provided in subsection (g), if the total amount of registration fees collected by the department for a state fiscal year under section 1(a) of this chapter exceeds the amount the department determines necessary to administer this article for the next state fiscal year, the department shall refund on a pro rata basis, to all manufacturers that paid any fees for the state fiscal year that contributed to those collections, the amount of fees collected by the department that exceeds the amount necessary to administer this article for the next state fiscal year. (g) The department is not required to refund amounts under subsection (f) if either or both of the following apply: (1) The refund amount determined under subsection (f) is less than one hundred dollars ($100). (2) The amount the manufacturer claiming the refund recycled for the manufacturer's most recent program year was less than fifty percent (50%) of the amount the manufacturer was required to recycle for that program year under IC 13-20.5-4-1.