Sec. 12. (a) This section applies to a transformation zone granted designation by the state board under section 9.5 of this chapter after June 30, 2022.

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Terms Used In Indiana Code 20-31-9.5-12

  • 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.
     (b) If the state board grants the designation of a transformation zone within a school corporation under section 9.5 of this chapter, the governing body of the school corporation may enter into an agreement with a nonprofit organization to manage and operate all of the schools included in the transformation zone.

     (c) An agreement entered into under subsection (b) must:

(1) provide that the nonprofit organization has managerial and operational autonomy over the schools included in the transformation zone; and

(2) include details regarding the funding structure of the transformation zone.

As added by P.L.140-2022, SEC.4.

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