Title 20, TITLE 20. EDUCATION

Sec. 3. The governing body shall annually levy a rate that will produce a sum sufficient to meet all payments of principal and interest as they mature in the year for which the levy is made on the: (1) bonds; (2) notes; or (3) other obligations; of the school corporation. [Pre-20…

Sec. 4. A school corporation may impose a levy for a fund (before January 1, 2019) or its operations fund (after December 31, 2018), as permitted in IC 20-48-1-7, to repay an emergency loan to the fund (before January 1, 2019) or operations fund (after December 31, 2018). [2006 R…

Sec. 5. The school trustee or board of school trustees of Indiana may levy taxes in maintaining a joint school established with a school corporation in an adjacent state under IC 20-23-11 as are otherwise provided by law for maintaining the public schools in Indiana. [Pre-2006 Re…

Sec. 6. The power of the governing body in making tax levies shall be exercised within existing statutory limits. The levies are subject to the review required by law. As added by P.L.2-2006, SEC.167.

Sec. 1. This chapter does not apply to a: (1) school corporation; (2) joint school corporation; or (3) consolidated school corporation; the schools of which do not have a total enrollment of at least two hundred fifty (250) pupils. [Pre-2006 Recodification Citation: 21-5-11-15 pa…

Sec. 10. A school corporation or corporations may, in anticipation of the acquisition of a site and the construction and erection of a school building or buildings, enter into a lease with a lessor corporation before the actual acquisition of the site and the construction and ere…

Sec. 11. (a) After the lessor corporation and the school corporation or corporations have agreed upon the terms and conditions of a lease proposed to be entered into under this chapter, and before the final execution of the lease, a notice shall be given by publication to all per…

Sec. 12. (a) At the hearing, all interested persons have a right to be heard upon the necessity for the execution of the proposed lease and whether the rental to be paid to the lessor corporation under the proposed lease is a fair and reasonable rental for the proposed building. …

Sec. 13. (a) If the execution of the lease as originally agreed upon or as modified by agreement is authorized by the governing body or bodies of the school corporation or corporations, the governing body shall give notice of the signing of the lease by publication one (1) time i…

Sec. 14. An action to contest the validity of the lease or to enjoin the performance of any of the terms and conditions of the lease may not be instituted at any time later than: (1) thirty (30) days after publication of notice of the execution of the lease by the governing body …

Sec. 15. The lessor corporation shall acquire, own, and hold in fee simple the land on which a school building or buildings are to be erected under this chapter. A school corporation that proposes to lease such a school building, either alone or jointly with another school corpor…

bonds Sec. 16. (a) A corporation qualifying as a lessor corporation under this chapter may, in furtherance of its corporate purposes, issue and sell stock, bonds, and other securities. Mortgage bonds issued by a lessor corporation that are a first lien on the leased property are …

Sec. 17. (a) As used in this section, "bonds" includes bonds, debentures, or other evidences of indebtedness. (b) A lessor corporation having outstanding bonds that by their terms are redeemable before their maturities may issue bonds in the manner provided by section 16 of this …

and make improvements; appeal Sec. 18. (a) As used in this section, "bonds" means bonds, debentures, or other evidences of indebtedness. (b) As used in this section, "improvement" or "improvements" means one (1) or more of the following: (1) Construction of a school building. (2)…

Sec. 19. A school corporation that decides to exercise an option to purchase a school building under this chapter may issue general obligation bonds to procure funds to pay the cost of acquisition. General obligation bonds issued under this section must be authorized, issued, and…

Sec. 2. As used in this chapter, "capital actually invested" includes the following amounts expended by a lessor corporation: (1) Organization and incorporation expenses. (2) Financing costs. (3) Carrying charges. (4) Legal fees. (5) Architects' fees. (6) Contractors' fees. (7) R…

Sec. 20. A school corporation that executes a lease under this chapter shall annually appropriate from its debt service fund or general fund (before January 1, 2019) or operations fund (after December 31, 2018) an amount sufficient to pay the lease rental required under the lease…

Sec. 21. Property owned by a lessor corporation entering into a lease with a school corporation or corporations under this chapter, and all stock and other securities (including the interest or dividends) issued by a lessor corporation, are exempt from all state, county, and othe…

application of other laws Sec. 22. This chapter shall be construed as being supplemental to all other laws covering the acquisition, use, and maintenance of school buildings by school corporations. However, as to school buildings constructed, acquired, leased, or purchased under …

Sec. 23. (a) Upon the termination of a lease entered into under this chapter, the lessor corporation shall return to the school corporation any money held by the lessor corporation that exceeds the amount needed to retire bonds issued under this chapter and to dissolve the lessor…

Sec. 3. As used in this chapter, "lessor corporation" means a corporation described in section 6 of this chapter. [2006 Recodification Citation: New.] As added by P.L.2-2006, SEC.170. IC 20-47-2-4 "School building" Sec. 4. As used in this chapter, "school building" means a buildi…

Sec. 5. (a) A school corporation may lease a school building or buildings for the use of: (1) the school corporation; or (2) a joint or consolidated school district of which the school corporation is a part or to which it contributes; for a term not to exceed thirty (30) years. (…

return of capital; recovery of expenses Sec. 6. (a) A school corporation or corporations may enter into a lease under this chapter only with a corporation organized under Indiana law solely for the purpose of acquiring a site, erecting a suitable school building or buildings on t…

Sec. 7. (a) A lease entered into under this chapter must include the following provisions: (1) An option for the school corporation or corporations to renew the lease for a further term on similar conditions. (2) An option for the school corporation or corporations to purchase th…

Sec. 8. (a) A lessor corporation proposing to build a school building or buildings must submit preliminary plans, specifications, and estimates for the building or buildings to the lessee or lessees before the execution of the lease. Final plans and specifications must be submitt…

Sec. 9. A lease entered into under this chapter may provide that as part of the lease rental for the school building or buildings the lessee or lessees shall: (1) pay all taxes and assessments levied against or on account of the leased property; (2) maintain insurance on the leas…

Sec. 1. This chapter applies to any school city or school town. [2006 Recodification Citation: New.] As added by P.L.2-2006, SEC.171.

Sec. 2. (a) Subject to subsection (c), if the board of school trustees or other proper authority of a school town or school city finds that an emergency exists for borrowing money with which to meet current expenses of the schools of the school town or school city, the board of s…

Sec. 3. (a) A temporary loan made under section 2 of this chapter must be authorized by a resolution of the board of school trustees or other proper authority: (1) designating the: (A) nature of the consideration; (B) date, time, and place payable; (C) rate of interest, not to ex…

Sec. 1. As used in this chapter, "advancement" refers to an advance payment to a school corporation under this chapter. [2006 Recodification Citation: New.] As added by P.L.2-2006, SEC.172.

Sec. 10. The state board shall make nondisaster advancements to school corporations under this chapter only when the following conditions exist: (1) The school buildings and classrooms of any school corporation are not adequate for the proper education of the students in that pub…

Sec. 11. (a) The state board may make a disaster loan to a school corporation that has suffered loss by fire, flood, windstorm, or other disaster that makes all or part of the school building or buildings unfit for school purposes. (b) A loan made under this section may not excee…

Sec. 12. Any school corporation desiring to obtain an advancement under this chapter shall submit to the state board a verified application stating: (1) the existing condition concerning the need for money to be used to construct, remodel, or repair a school building in the schoo…

Sec. 13. (a) The state board shall compute and assign to the applicant school corporation a school building index that is the ratio of the school building need, in terms of money, to the school corporation's tax ability, in terms of money. (b) For purposes of this section, the sc…

Sec. 14. School corporations having the highest school building index must be considered first for advancements. The advancements must be made in descending order of need as shown by the school building index. The state board, after giving consideration to the: (1) relative order…

support Sec. 16. A school corporation receiving an advancement under this chapter may annually levy a tax in the debt service fund to replace the amount deducted in the current year from the distribution of state tuition support under this chapter. The amount received from the ta…

Sec. 17. (a) The auditor of state shall on December 31 and June 30 of each year transfer from the veterans memorial school construction fund to the state general fund the total amount of money advanced by the state board from the state general fund to school corporations under th…

Sec. 18. Each school corporation that receives funds under this chapter shall provide a suitable plaque of a permanent nature commemorating the veterans who served in the armed forces of the United States. The plaque must be in a form recommended by the state board. [Pre-2006 Rec…

Sec. 2. The veterans memorial school construction fund is established. The state board shall administer the fund. [Pre-2006 Recodification Citation: 21-1-11-1 part.] As added by P.L.2-2006, SEC.172.

Sec. 3. (a) The state board shall carry out this chapter. (b) The secretary of education shall, from funds appropriated for administering this chapter, provide office space and employees to enable the state board to perform the duties required under this chapter. (c) The state bo…

Sec. 4. Subject to this chapter, the state board may order the auditor of state to periodically make an advancement from the state general fund for the construction, remodeling, or repair of school buildings to any school corporation. [Pre-2006 Recodification Citation: 21-1-11-2(…

Sec. 5. The state board may not order advancements under this chapter during any fiscal year that in total exceed the sum of: (1) the balance remaining in the veterans memorial school construction fund at the end of the preceding fiscal year; and (2) all accruals and transfers to…

Sec. 6. A school corporation is not entitled to an advancement under this chapter under the following circumstances: (1) An advancement may not be made to any organized joint school district or to any school corporation within any organized joint school district when the advancem…

Sec. 7. All advancements made by the state board must comply with this chapter. [Pre-2006 Recodification Citation: 21-1-11-2(b) part.] As added by P.L.2-2006, SEC.172.

Sec. 8. An advancement may not be made for: (1) any purpose other than the construction, remodeling, or repairing of school buildings and classrooms; or (2) gymnasiums, auditoriums, or any athletic facilities. [Pre-2006 Recodification Citation: 21-1-11-2(b) part.] As added by P.L…

Sec. 9. A nondisaster advancement to any school corporation under section 10 of this chapter may not exceed two hundred fifty thousand dollars ($250,000). However, this dollar limitation is waived if: (1) the school corporation has an assessed valuation per ADA of less than eight…

Sec. 1. This chapter applies after June 30, 2009. As added by P.L.133-2008, SEC.3.

As added by P.L.46-2016, SEC.2. Repealed by P.L.155-2019, SEC.13.

Sec. 2. As used in this chapter, "homeless children and youths" has the meaning set forth in IC 20-50-1-1. As added by P.L.133-2008, SEC.3. Amended by P.L.155-2019, SEC.14.

Sec. 3. Each school corporation shall provide tutoring for children enrolled in a school operated by the school corporation who are homeless children and youths, if the school corporation determines the children have a demonstrated need for tutoring. As added by P.L.133-2008, SEC…