Sec. 2. (a) The governing body of each school corporation shall establish an education fund for the payment of expenses that are allocated to student instruction and learning under IC 20-42.5.

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Terms Used In Indiana Code 20-40-2-2

  • 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 school corporation's or, if applicable, a charter school's education fund established under section 2 of this chapter. See Indiana Code 20-40-2-1
     (b) The governing body of a charter school that receives a distribution of revenue received from a tax levy under IC 20-46-8-11.2 shall establish an education fund for the payment of expenses that are allocated to student instruction and learning under IC 20-42.5.

[Pre-2006 Recodification Citation: 21-2-11-2 part.]

As added by P.L.2-2006, SEC.163. Amended by P.L.244-2017, SEC.67; P.L.201-2023, SEC.181.

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