§ 20-45-8-22 — Calculation; tax levy

(a) The amount to be raised by the tax shall
be determined in any calendar year by the county auditor and certified
to by the board of county commissioners before the time for making the
county budgets in the year.
(b) The amount is the total of the entitlements of all qualified school
corporations.
(c) The entitlement of each qualified school corporation calculated
in a calendar year is an amount equal to the result determined under
STEP TWO of the following formula:
STEP ONE: Calculate the quotient of:
(A) the total amount deposited in the fund in calendar year
1979 or the first year in which a deposit was made, whichever
is later; divided by
(B) the total count of pupils of the immediately preceding
school year of qualified school corporations that received
money from the fund in 1979, as determined in the fall count of
pupils under IC 20-43-4 for the school year ending in the
immediately preceding calendar year.
STEP TWO: Calculate the product of:
(A) the STEP ONE result; multiplied by
(B) the total count of pupils of the immediately preceding
school year of qualified school corporations that received
money from the fund in 1979, as determined in the fall count of
pupils under IC 20-43-4 for the school year ending in the
immediately preceding calendar year.
[Pre-2006 Recodification Citation: 21-2-13-7 part.]

Legislative History

As added by P.L.2-2006, SEC.168. Amended by P.L.205-2013, SEC.306; P.L.217-2017, SEC.137.