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 20-40-2-7 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. 7. (a) On January 1, 2019, the balance, as of December 31, 2018, in the school corporation‘s general fund shall be transferred to the education fund.

     (b) Before March 1, 2019, the governing body of a school corporation may transfer to the school corporation’s operations fund, from the amounts transferred from the school corporation’s general fund under subsection (a), any amounts that are not allocated to student instruction and learning under IC 20-42.5 or related to the cost of providing curricular materials. A school corporation may make a transfer under this section only after complying with section 6 of this chapter, including the requirements for public notice and a public hearing.

As added by P.L.244-2017, SEC.72. Amended by P.L.136-2024, SEC.48.

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