Sec. 5. (a) Except as provided in subsection (b), if the department approves a grant to a school corporation under this chapter, the amount of the grant from the fund is equal to the amount that the school corporation commits to contribute to the stipends.

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Terms Used In Indiana Code 20-43-15-5

  • 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 number of requests for grants from the fund exceeds the amount of money in the fund, the department shall proportionately reduce the amount of each grant from the fund.

     (c) The department shall annually distribute grants to school corporations by a date determined by the state board.

As added by P.L.106-2016, SEC.14.

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