§ 20-40-18-2 — Sources of revenue

Indiana § 20-40-18-2

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 40: GOVERNMENT FUNDS AND ACCOUNTS
• Ch. 18: School Corporation Operations Fund

Text

(a) The operations fund shall be used to
deposit the following after December 31, 2018, in the case of a school
corporation:
(1) Revenue from the school corporation's operations fund
property tax levy under IC 20-46-8.
(2) The sum of the following excise tax revenue received for
deposit in the fund in the calendar year in which the school year
begins:
(A) Financial institutions excise tax (IC 6-5.5).
(B) Motor vehicle excise taxes (IC 6-6-5).
(C) Commercial vehicle excise taxes (IC 6-6-5.5).
(D) Boat excise tax (IC 6-6-11).
(E) Aircraft license excise tax (IC 6-6-6.5).
(3) Transfers from the education fund (IC 20-40-2) or the
operating referendum tax levy fund (IC 20-40-3), if any.
(4) Allocations of local income taxes to the school corporation
under IC 6-3.6-6, if any.
(b) In the case of a charter school, the operations fund shall be used
to deposit amounts distributed to the charter school under IC 20-46-8-11.2 or IC 20-46-8-12 after December 31, 2024.

Legislative History

As added by P.L.244-2017, SEC.86. Amended by P.L.201-2023, SEC.186; P.L.68-2025, SEC.213.