§ 20-49-3-16 — Deposit of revenue in fund

Indiana § 20-49-3-16

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 49: STATE MANAGEMENT OF COMMON SCHOOL
• Ch. 3: State Administration of Common School Fund

Text

(a) All fines, forfeitures, and other revenue
that, by law, accrue to the fund shall be collected as provided by law.
The money shall be paid into the state treasury and becomes a part of
the fund in the custody of the treasurer of state. The county auditor
shall keep a record of all fines and forfeitures and all other revenue
that, by law, accrues to the fund. Semiannually on May 1 and
November 1, the county auditor shall issue the county auditor's warrant
payable to the treasurer of state in an amount equal to the total
collections in the six (6) months preceding of fines and forfeitures and
all other revenue that, by law, accrues to the fund or to the permanent
endowment fund.
(b) At the time of payment of principal, interest, or accretions to the
treasurer of state, the county auditor shall file a report with the state
comptroller. The report must set forth the amount of the following:
(1) The county's common school fund.
(2) Interest on the county's common school fund.
(3) Fines and forfeitures from the county.
(4) All other accretions included in a payment from the county to
the treasurer of state.
Forms for making the report shall be furnished by the state comptroller.
(c) All money collected as interest on the fund shall be paid into the
state treasury and shall be distributed for the uses and purposes
provided by law.
[Pre-2006 Recodification Citation: 21-1-3-7.]

Legislative History

As added by P.L.2-2006, SEC.172. Amended by P.L.9-2024, SEC.408.