Indiana Code 20-44-3-6. Expenditure after appropriation; reduction of maximum levy
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Terms Used In Indiana Code 20-44-3-6
- 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.
- fund: refers to a levy excess fund established under IC 20-40-10-2. See Indiana Code 20-44-3-1
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Sec. 6. Except as provided in section 7 of this chapter, a school corporation may not spend money in its fund until the expenditure of the money has been included in a budget that has been approved by the department of local government finance under IC 6-1.1-17. For purposes of fixing its budget and for purposes of the property tax levy limits fixed by law, a school corporation shall treat the money in its fund that the department of local government finance permits the school corporation to spend during a particular calendar year as part of the school corporation’s property tax levy for that same calendar year.
[Pre-2006 Recodification Citation: 6-1.1-19-1.7(e).]
As added by P.L.2-2006, SEC.167.