Note: This version of section effective 1-1-2025. See also preceding version of this section, effective until 1-1-2025.

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Terms Used In Indiana Code 20-40-2-4 v2

  • 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
     Sec. 4. Except as provided in IC 36-1-8-5.1 (school corporation rainy day fund), the education fund of the school corporation or, if applicable, a charter school, shall be used only to pay for expenses:

(1) allocated to student instruction and learning under IC 20-42.5; and

(2) related to the cost of providing curricular materials.

The fund may not be used to pay directly any expenses that are not allocated to student instruction and learning under IC 20-42.5, are not expenses related to the cost of providing curricular materials, or expenses permitted to be paid from the school corporation’s or charter school’s operations fund.

[Pre-2006 Recodification Citation: 21-2-11-4(a) part.]

As added by P.L.2-2006, SEC.163. Amended by P.L.145-2012, SEC.24; P.L.257-2013, SEC.36; P.L.244-2017, SEC.69; P.L.140-2018, SEC.12; P.L.201-2023, SEC.182; P.L.136-2024, SEC.45.

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