Indiana Code 20-40-2-4. Education fund; limited to student instruction and learning
Current as of: 2023 | Check for updates
|
Other versions
Note: This version of section effective until 7-1-2024. See also following version of this section, effective 7-1-2024.
Sec. 4. Except as provided in IC 36-1-8-5.1 (school corporation rainy day fund), the education fund shall be used only to pay for expenses allocated to student instruction and learning under IC 20-42.5. The fund may not be used to pay directly any expenses that are not allocated to student instruction and learning under IC 20-42.5 or expenses permitted to be paid from the school corporation’s operations fund.
[Pre-2006 Recodification Citation: 21-2-11-4(a) part.]
As added by P.L.2-2006, SEC.163. Amended by P.L.145-2012, SEC.24; P.L.257-2013, SEC.36; P.L.244-2017, SEC.69; P.L.140-2018, SEC.12.
Terms Used In Indiana Code 20-40-2-4
- 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.
- fund: refers to a school corporation's education fund established under section 2 of this chapter. See Indiana Code 20-40-2-1