§ 20-45-8-25 — Distribution to school corporations

(a) The money received into the fund in any
calendar year shall be paid to the qualified school corporations in
accordance with their entitlements, determined in the immediately
preceding calendar year, in the same manner as other tax distributions.
(b) A qualified school corporation has the same rights to advance
payments of a distribution from the fund as the qualified school
corporation's right to advance payments of other property taxes.
(c) If the tax receipts in the county school distribution fund in any
calendar year are less than the total of the entitlements for any reason,
on account of delinquencies in collection or otherwise, each
entitlement shall be reduced in the same percentage so that the entire
fund is exhausted.
(d) If the tax receipts in any calendar year are more than the total of
the entitlements because of the collection of delinquencies for prior
years, each entitlement shall be increased in the same percentage so
that the entire fund is exhausted.
[Pre-2006 Recodification Citation: 21-2-13-8 part.]

Legislative History

As added by P.L.2-2006, SEC.168.