IN SB0438

Transfers administration of the microenterprise partnership program from the Indiana Economic Development Corporation to the Indiana Housing and Community Development Authority, effective July 1, 2011.

Renames the "microenterprise partnership program fund" as the "small business development fund" under the Indiana Economic Development Corporation.

Creates a new microenterprise partnership program fund under the Indiana Housing and Community Development Authority to provide grants up to $25,000 to microloan delivery organizations serving microenterprises with no more than 5 employees.

Requires at least 50% of microloan disbursements to be in loans not exceeding $10,000 and limits grant use for operating costs to 10% of each grant.

Repeals the previous microenterprise partnership program law (IC 5-28-19) and requires the Economic Development Corporation to transfer relevant funds, records, and files to the Housing and Community Development Authority.