Indiana Code 20-49-4-13. Maximum advance; school building construction program
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Sec. 13. An advance to a school corporation or charter school for any school building construction program may not exceed the greater of the following:
(2) The product of fifteen thousand dollars ($15,000) multiplied by the number of students accommodated as a result of the school building construction program.
(1) Fifteen million dollars ($15,000,000).
Terms Used In Indiana Code 20-49-4-13
- advance: means an advance under this chapter from the fund. See Indiana Code 20-49-4-3
- charter school: refers to a school established under IC 20-24. See Indiana Code 20-49-4-3.5
- 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.
- disaster: refers to loss by:
Indiana Code 20-49-4-4
- school building construction program: means the following:
Indiana Code 20-49-4-7
However, if a school corporation or charter school has sustained loss by disaster, this limitation may be waived by the state board after consulting with the department and the budget agency.
[Pre-2006 Recodification Citation: 21-1-5-4(b).]
As added by P.L.2-2006, SEC.172. Amended by P.L.189-2023, SEC.48.