Community development fund.

Establishes the Indiana local projects fund (fund) to provide grants to nonprofit organizations and units of local government. Provides that the Indiana economic development corporation (corporation) shall administer the fund. Defines "nonprofit organization" as a nonprofit organization whose primary purpose is community development and revitalization. Provides that the fund is to support proposals for local community development and revitalization, including job creation. Provides that grants may not exceed $5,000,000 per project. Provides that grants must be matched by the applicant. Provides that the board of the corporation shall form a strategic review committee to review applications for grants. Specifies the criteria the board shall consider in making a grant.