Indiana Code 20-51-4-5. Determination of state tuition support
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Sec. 5. The state tuition support amount to be used in section 4(a)(1)(B) of this chapter for an eligible choice scholarship student is the amount determined under the last STEP of the following formula:
STEP TWO: Determine the amount of state tuition support that the school corporation identified under STEP ONE is eligible to receive under IC 20-43 for the state fiscal year in which the current school year begins, including the basic tuition support amount made under IC 20-43-6 and the amount determined under IC 20-43-10.5-3. However, the amount does not include amounts provided for special education grants under IC 20-43-7, career and technical education grants under IC 20-43-8, non-English speaking program grants under IC 20-43-10, or amounts determined under IC 20-43-10.5-2 or IC 20-43-10.5-4.
STEP ONE: Determine the school corporation in which the eligible choice scholarship student has legal settlement.
Terms Used In Indiana Code 20-51-4-5
- 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.
- 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.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
STEP THREE: Determine the result of:
(A) the STEP TWO amount; divided by
(B) the current ADM (as defined in IC 20-43-1-10) for the school corporation identified under STEP ONE for the state fiscal year used in STEP TWO.
As added by P.L.92-2011, SEC.10. Amended by P.L.6-2012, SEC.145; P.L.211-2013, SEC.14; P.L.106-2016, SEC.20; P.L.165-2021, SEC.178; P.L.201-2023, SEC.218.