Indiana § 20-24-12-12 Department to withhold loan repayments

Indiana Statutes

§ 20-24-12-12 — Department to withhold loan repayments

Indiana·Title 20 EDUCATION·Art. 24 CHARTER SCHOOLS·Ch. 12 Charter School Facilities Assistance Program

The department shall withhold the amount
of the balance of the loan due in a year on a loan made under this
chapter from state tuition support distributions that would otherwise be
made in the year to the charter school. To the extent possible, the
department shall withhold an equal amount from each installment of
state tuition support distributed to the charter school. Withheld
amounts reduce the balance of the loan of the charter school. The state
comptroller shall transfer withheld amounts to the fund.

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The department shall withhold the amount
of the balance of the loan due in a year on a loan made under this
chapter from state tuition support distributions that would otherwise be
made in the year to the charter school. To the extent possible, the
department shall withhold an equal amount from each installment of
state tuition support distributed to the charter school. Withheld
amounts reduce the balance of the loan of the charter school. The state
comptroller shall transfer withheld amounts to the fund.

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