Indiana Code 20-24-7-3. Calculation and distribution of state funds to conversion charter school
(b) The department shall distribute to the organizer:
Terms Used In Indiana Code 20-24-7-3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) a proportionate share of state and federal funds received:
(A) for students with disabilities; or
(B) for staff services for students with disabilities;
enrolled in the conversion charter school; and
(3) a proportionate share of funds received under federal or state categorical aid programs for students who are eligible for the federal or state categorical aid and are enrolled in the conversion charter school;
for the second six (6) months of the calendar year in which the conversion charter school is established. The department shall make a distribution under this subsection at the same time and in the same manner as the department makes a distribution to the governing body of the school corporation in which the conversion charter school is located. A distribution to the governing body of the school corporation in which the conversion charter school is located is reduced by the amount distributed to the conversion charter school. This subsection does not apply to a conversion charter school after December 31 of the calendar year in which the conversion charter school is established.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-5.5-7-3.5.]
As added by P.L.1-2005, SEC.8. Amended by P.L.2-2006, SEC.107; P.L.146-2008, SEC.461; P.L.205-2013, SEC.230; P.L.119-2016, SEC.2.