Reimbursement formula

Sec. 9.5. (a) This section applies to reimbursements made under this chapter in the state fiscal year beginning after June 30, 2013. (b) The amount of reimbursement that a school corporation or an accredited nonpublic school (as defined in section 9(a) of this chapter) is entitled to receive under section 7 or 9 of this chapter in a state fiscal year is equal to the amount determined in the following STEPS: STEP ONE: Determine the amount appropriated to make reimbursements under this chapter for the state fiscal year. STEP TWO: Determine the total number of eligible students for which reimbursement was requested under either section 7 or 9 of this chapter before November 1 of the previous calendar year by all school corporations and accredited nonpublic schools. STEP THREE: Divide the result determined in STEP ONE by the number determined in STEP TWO. STEP FOUR: Multiply: (A) the STEP THREE result; by (B) the number of eligible students for which reimbursement was requested under section 7 or 9 of this chapter before November 1 of the state fiscal year by the school corporation or the accredited nonpublic school. As added by P.L.229-2011, SEC.194. Amended by P.L.205-2013, SEC.258; P.L.92-2020, SEC.80; P.L.201-2023, SEC.175.