Sec. 6. (a) With the approval of a majority of the members of the governing body, a school corporation may distribute a proportionate share of the school corporation’s operations fund to a charter school. A charter school may elect to distribute a proportionate share of the charter school’s operations fund to the school corporation in whose district the charter school is located.

     (b) Except as provided in IC 20-46-1-21 and IC 20-46-9-22, a governing body may distribute money that is received as part of a tax levy collected under IC 20-46-1 from the school corporation’s education fund to a charter school, excluding a virtual charter school, in the manner provided by IC 20-46-1-8(e).

Terms Used In Indiana Code 20-24-7-6

  • 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.
     (c) Except as provided in IC 20-46-1-21 and IC 20-46-9-22, a governing body may distribute money from the school safety referendum tax levy fund to a charter school, excluding a virtual charter school, in the manner prescribed by IC 20-46-9-6(b).

[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-5.5-7-6.]

As added by P.L.1-2005, SEC.8. Amended by P.L.244-2017, SEC.29; P.L.154-2020, SEC.39; P.L.189-2023, SEC.4.

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