(a)This section applies to revenue collected
after December 31, 2027, from a tax levy imposed under this chapter
only if the number of students who have legal settlement in a school
corporation but attend a charter school, excluding virtual charter
schools and adult high schools, and receive not more than fifty percent
(50%) virtual instruction, is at least the greater of:
(1)one hundred (100) students; or
(2)two percent (2%) of the school corporation's spring ADM
count, excluding students who receive more than fifty percent
(50%) virtual instruction.
(b)As used in this section, "eligible charter school" means a charter
school attended by a student who:
(1)has legal settlement in a school corporation that imposes a tax
levy under this chapter; and
(2)receives not more than fifty perc
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(a) This section applies to revenue collected
after December 31, 2027, from a tax levy imposed under this chapter
only if the number of students who have legal settlement in a school
corporation but attend a charter school, excluding virtual charter
schools and adult high schools, and receive not more than fifty percent
(50%) virtual instruction, is at least the greater of:
(1) one hundred (100) students; or
(2) two percent (2%) of the school corporation's spring ADM
count, excluding students who receive more than fifty percent
(50%) virtual instruction.
(b) As used in this section, "eligible charter school" means a charter
school attended by a student who:
(1) has legal settlement in a school corporation that imposes a tax
levy under this chapter; and
(2) receives not more than fifty percent (50%) virtual instruction.
However, the term does not include a virtual charter school or an adult
high school.
(c) The following schools are not eligible to receive, and may not be
considered in a calculation made for purposes of, a distribution under
this section:
(1) A virtual charter school.
(2) An adult high school.
(d) Beginning in calendar year 2028, and in each calendar year
thereafter, and subject to subsection (j), the county auditor shall
distribute to each eligible charter school in the manner provided under
this section an amount of revenue received from a tax levy imposed by
a school corporation under this chapter.
(e) For the purposes of the calculations made in this section, each
eligible charter school that has entered into an agreement with a school
corporation to participate as a participating innovation network charter
school under IC 20-25.7-5 is considered to have an ADM that is
separate from the school corporation.
(f) Not later than January 1, 2028, and not later than January 1 of
each year thereafter, the department, in consultation with the
department of local government finance, shall determine, for each
school corporation, the corresponding percentages of revenue received
from the tax levy that must be distributed among the school corporation
and each eligible charter school according to the following formula:
STEP ONE: Determine, for each eligible charter school, the
number of students who:
(A) have legal settlement within the school corporation;
(B) are currently included in the fall ADM count for the charter
school; and
(C) receive not more than fifty percent (50%) virtual
instruction.
STEP TWO: Determine the sum of:
(A) the aggregate of the STEP ONE results for all eligible
charter schools with respect to the school corporation; plus
(B) the fall ADM count for the school corporation for students
receiving not more than fifty percent (50%) virtual instruction.
STEP THREE: For each eligible charter school, determine the
result of:
(A) the applicable STEP ONE amount; divided by
(B) the STEP TWO amount;
expressed as a percentage.
STEP FOUR: Determine the sum of all the amounts computed
under STEP THREE and subtract the result from one hundred
percent (100%).
(g) The department shall provide to the county auditor, immediately
after calculation under subsection (f):
(1) each eligible charter school and the eligible charter school's
corresponding percentage calculated under STEP THREE of
subsection (f); and
(2) the percentage calculated under STEP FOUR of subsection (f)
for the school corporation.
(h) Subject to subsections (j) and (l), the county auditor shall
distribute to the school corporation and each eligible charter school the
amount determined in the last STEP of the following STEPS:
STEP ONE: Determine the amount collected in the most recent
installment period by the school corporation from the school
corporation's operations fund levy imposed under this chapter.
STEP TWO: To determine the distribution for the school
corporation and each eligible charter school, determine the result
of:
(A) the sum of:
(i) the STEP ONE result; plus
(ii) any amount withheld in the previous year under
subsection (k); multiplied by
(B) the following percentage:
(i) In the case of an eligible charter school, the charter
school's percentage under STEP THREE of subsection (f).
(ii) In the case of the school corporation, the school
corporation's percentage under STEP FOUR of subsection (f).
(i) Not later than August 15, 2027, and not later than August 15 of
each calendar year thereafter, the department shall provide to each
school corporation and each eligible charter school an estimate of the
amount of property tax levy revenue the school corporation and eligible
charter school are expected to receive under this section in the
subsequent calendar year based on the most recent fall ADM count.
(j) Beginning with distributions of property tax revenue under this
section in 2028 and thereafter, in order to receive a distribution under
this section, the governing body of an eligible charter school shall, not
later than October 15, 2027, and not later than October 15 of each
calendar year thereafter, adopt a budget for the current school year. Not
later than ten (10) days before its adoption, the budget must be fixed
and presented to the charter board in a public meeting in the county in
which the eligible charter school is incorporated. Not later than
November 1, 2027, and not later than November 1 of each calendar
year thereafter, the governing body of the charter school shall submit:
(1) the budget that is adopted under this subsection;
(2) the dates on which each requirement under this subsection
was met; and
(3) a statement from the governing body of the charter school
attesting that the dates provided in subdivision (2) are true and
accurate and that the budget was properly adopted under this
subsection;
to the charter authorizer for review and to the department of local
government finance to be posted publicly on the computer gateway
under IC 6-1.1-17-3.
(k) If an eligible charter school does not satisfy the requirements of
subsection (j) to receive distributions under this section during a
calendar year, as determined by the department of local government
finance, the eligible charter school may not receive a distribution of
property tax revenue in that calendar year and the county auditor shall
withhold the eligible charter school's distribution amount. The
department of local government finance's determination of compliance
consists only of a confirmation that the adopted budget and attestation
statement are submitted not later than the applicable date under
subsection (j). Any distribution amount withheld under this subsection
shall be:
(1) added to the property tax revenue collections as described in
STEP TWO of subsection (h); and
(2) distributed among the school corporation and remaining
eligible charter schools according to subsection (h);
in the calendar year that immediately follows the calendar year in
which the distribution amount was withheld.
(l) This subsection applies only to distributions under subsection (h)
in calendar years 2028, 2029, and 2030 to an eligible charter school.
Instead of the amount determined under subsection (h) for a
distribution to a particular eligible charter school from the revenue
collected from the tax levy imposed under this chapter by a particular
school corporation, the county auditor shall make distributions
according to the following:
(1) For a distribution in 2028, the county auditor shall distribute
an amount for a particular eligible charter school equal to:
(A) the applicable result of STEP TWO of subsection (h) for
the eligible charter school; multiplied by
(B) twenty-five hundredths (0.25).
(2) For a distribution in 2029, the county auditor shall distribute
an amount for a particular eligible charter school equal to:
(A) the applicable result of STEP TWO of subsection (h) for
the eligible charter school; multiplied by
(B) five-tenths (0.5).
(3) For a distribution in 2030, the county auditor shall distribute
an amount for a particular eligible charter school equal to:
(A) the applicable result of STEP TWO of subsection (h) for
the eligible charter school; multiplied by
(B) seventy-five hundredths (0.75).
Any amount of property tax revenue collected from the tax levy
imposed under this chapter by a particular school corporation that
remains after making the distributions according to this subsection
shall be distributed to the school corporation and are in addition to the
amount distributed to the school corporation under subsection (h) for
the applicable year. This subsection expires July 1, 2032.