§ 20-49-2-9 — Maximum advancement; nonemergency

Indiana § 20-49-2-9

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 49: STATE MANAGEMENT OF COMMON SCHOOL
• Ch. 2: Administration of Veterans Memorial School

Text

A nondisaster advancement to any school
corporation under section 10 of this chapter may not exceed two
hundred fifty thousand dollars ($250,000). However, this dollar
limitation is waived if:
(1) the school corporation has an assessed valuation per ADA of
less than eight thousand four hundred dollars ($8,400); and
(2) the school corporation's debt service fund tax rate would
exceed one dollar ($1) for each one hundred dollars ($100) of
assessed valuation without a waiver of the dollar limitation.
[Pre-2006 Recodification Citation: 21-1-11-2(a)
part.]

Legislative History

As added by P.L.2-2006, SEC.172. Amended by P.L.182-2009(ss), SEC.360.