§ 20-49-4-7 — "School building construction program"

(a) As used in this chapter, "school building
construction program" means the following:
(1) The purchase, lease, or financing of land, the construction and
equipping of school buildings, and the remodeling, repairing, or
improving of school buildings by a school corporation:
(A) that sustained a loss from a disaster;
(B) whose assessed valuation per current ADM is within the
lowest forty percent (40%) of assessed valuation per current
ADM when compared with all school corporation assessed
valuation per current ADM; or
(C) with an advance under this chapter outstanding on July 1,
1993, that bears interest of at least seven and one-half percent
(7.5%).
(2) The purchase, lease, or financing of land, the construction and
equipping of school buildings, and the remodeling, repairing, or
improving of school buildings by a charter school.
(b) The term does not include facilities used or to be used primarily
for interscholastic or extracurricular activities. If a program involves a
school corporation career and technical education school described in
IC 20-37-1-1, the assessed valuation and current ADM of all those
school corporations that are members of the career and technical
education school are to be used for making determinations under this
section.
[Pre-2006 Recodification Citation: 21-1-5-3(b).]

Legislative History

As added by P.L.2-2006, SEC.172. Amended by P.L.113-2010, SEC.99; P.L.205-2013, SEC.308; P.L.40-2014, SEC.9; P.L.189-2023, SEC.43.