What happens to the balance of the Indiana Recovery Fund that exceeds $750,000 at the end of the fiscal year?

The Indiana Recovery Fund is designed to protect consumers who suffer monetary losses due to the actions of real estate licensees. At the end of each fiscal year, if the balance of the Recovery Fund exceeds $750,000, the excess funds are transferred to the Indiana state general fund. This means that the funds are not kept within the Recovery Fund for potential future claims, but instead contribute to the broader financial resources of the state government.

This mechanism ensures that surplus funds are utilized for public benefit and state programs, rather than remaining idle in the Recovery Fund. Thus, when there is an excess, it helps in supporting state needs rather than additional distribution or educational purposes, which would not align with the primary goal of the fund.