Indiana Code 20-43-2-4. Calculation of reduction amount
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Terms Used In Indiana Code 20-43-2-4
- 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.
Sec. 4. The amount of the reduction for a particular school corporation under section 2 of this chapter is equal to the total amount of the excess determined under section 2 of this chapter multiplied by a fraction. The numerator of the fraction is the amount of the distribution for state tuition support that the school corporation would have received if a reduction were not made under this section. The denominator of the fraction is the total amount that would be distributed for state tuition support to all school corporations if a reduction were not made under this section.
[Pre-2006 Recodification Citation: 21-3-1.7-9(b) part.]
As added by P.L.2-2006, SEC.166. Amended by P.L.135-2018, SEC.4.