§ 20-49-5-3 — State board; advance; purposes; maximum advance

Indiana § 20-49-5-3

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 49: STATE MANAGEMENT OF COMMON SCHOOL
• Ch. 5: Advancement From the Common School Fund for

Text

To assist a school corporation in providing the
school corporation's educational program to a student placed in a
facility or home as described in IC 20-26-11-8(a) or IC 20-26-11-8(b)
and not later than October 1 of each school year, the state board may
advance money to a school corporation in anticipation of the school
corporation's receipt of transfer tuition for students described in IC 20-26-11-8(a) or IC 20-26-11-8(b). The amount of the advance may not
exceed the amount determined under STEP TWO of the following
formula:
STEP ONE: Estimate for the current school year the number of
students described in IC 20-26-11-8(a) or IC 20-26-11-8(b) that
are transferred to the school corporation.
STEP TWO: Multiply the STEP ONE amount by the school
corporation's prior year per student transfer tuition amount.
[Pre-2006 Recodification Citation: 21-1-5.1-2.]

Legislative History

As added by P.L.2-2006, SEC.172. Amended by P.L.65-2012, SEC.4; P.L.160-2012, SEC.54.