Sec. 4. (a) This subsection applies to the determination of a school corporation‘s previous year‘s revenue for purposes of determining distributions under this article. A school corporation’s previous year revenue equals the amount determined using the following formula:

STEP ONE: Determine the school corporation’s basic tuition support actually received for the state fiscal year that immediately precedes the current state fiscal year.

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Terms Used In Indiana Code 20-43-3-4

  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • 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.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
STEP TWO: Subtract from the STEP ONE result an amount equal to the reduction in the school corporation’s state tuition support under any combination of subsection (b) or IC 20-30-2-4.

     (b) A school corporation’s previous year revenue must be reduced if:

(1) the school corporation’s state tuition support for special education or career and technical education is reduced as a result of a complaint being filed with the department after December 31, 1988, because the school program overstated the number of children enrolled in special education programs or career and technical education programs; and

(2) the school corporation’s previous year revenue has not been reduced under this subsection more than one (1) time because of a given overstatement.

The amount of the reduction equals the amount the school corporation would have received in state tuition support for special education and career and technical education because of the overstatement.

[Pre-2006 Recodification Citation: 21-3-1.7-3.1.]

As added by P.L.2-2006, SEC.166. Amended by P.L.234-2007, SEC.135; P.L.234-2007, SEC.238; P.L.3-2008, SEC.123; P.L.146-2008, SEC.485; P.L.182-2009(ss), SEC.331; P.L.229-2011, SEC.206; P.L.205-2013, SEC.273; P.L.213-2015, SEC.211.

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