Indiana Code 20-49-4-21. Power; levy; school building construction program; replacement of amount deducted from state tuition support
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Terms Used In Indiana Code 20-49-4-21
- advance: means an advance under this chapter from the fund. See Indiana Code 20-49-4-3
- 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.
- fund: refers to the common school fund in the custody of the treasurer of state. See Indiana Code 20-49-4-6
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- school building construction program: means the following:
Indiana Code 20-49-4-7
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Sec. 21. A school corporation to which an advance is made for a school building construction program may annually levy a property tax in the debt service fund to replace the amount deducted under this chapter in the current year from the distribution of state tuition support. The amount received from the tax must be transferred from the debt service fund to the education fund.
[Pre-2006 Recodification Citation: 21-1-5-8.]
As added by P.L.2-2006, SEC.172. Amended by P.L.244-2017, SEC.121.