§ 20-49-4-19 — Terms of agreement; right to offset advance against state tuition support

Indiana § 20-49-4-19

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

Text

Each school corporation or charter school
receiving an advance shall agree to have the money advanced, together
with the interest on the advance, deducted from the distribution of state
tuition support until all the money advanced, together with the interest
on the advance, has been paid. The state board and the state board of
finance shall reduce each distribution of state tuition support to each
school corporation or charter school to which an advance is made in an
amount to be agreed upon by the state and the school corporation or
charter school. If an advance is made to a school corporation career and
technical education school described in IC 20-37-1-1, the reduction for
a payment obligation for the advance shall be allocated as provided in
section 18 of this chapter.
[Pre-2006 Recodification Citation: 21-1-5-7(a) part.]

Legislative History

As added by P.L.2-2006, SEC.172. Amended by P.L.40-2014, SEC.12; P.L.189-2023, SEC.54.