§ 20-49-4-18 — Repayment of advance; terms; state tuition support

Indiana § 20-49-4-18

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 49: STATE MANAGEMENT OF COMMON SCHOOL
• Ch. 4: Advancement From Common School Fund; Buildings

Text

(a) To ensure timely payment of advances
according to the terms, the state may in its sole discretion withhold
from funds due to school corporations or charter schools to which
advances are made amounts necessary to pay the advances and the
interest on the advances in accordance with their respective terms. The
terms of the advances shall be established by the state board after
consulting with the department and upon the approval of the budget
agency in advance of the time the respective advances are made.
However, in the case of school corporations with advances outstanding
on July 1, 1993, the withholding may be adjusted to conform with this
chapter.
(b) To the extent available, funds shall first be withheld from the
distribution of state tuition support. However, if this distribution is not
available or is inadequate, funds may be withheld from the distribution
of other state funds to the school corporation or charter school to which
the advance is made.
(c) If an advance is made to a school corporation career and
technical education school described in IC 20-37-1-1, a part of the
advance and the payment obligation for that part of the advance shall
be determined by allocating the advance and payment amounts among
the members of the career and technical education school using the
number of students from each member school corporation that are
enrolled in the career and technical education school in the school year
the advance is made.
[Pre-2006 Recodification Citation: 21-1-5-5(c).]

Legislative History

As added by P.L.2-2006, SEC.172. Amended by P.L.40-2014, SEC.11; P.L.189-2023, SEC.53.