Ind. Code § 20-49-4-13
Maximum advance; school building construction program
Redline — January 1, 2018 → current.View current text →
Current — January 1, 2023
As of January 1, 2018
Sec. 13. An advance to a school corporation for any school building construction program may not exceed the greater of the following:
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:
(1) Fifteen million dollars ($15,000,000).
(1) Fifteen million dollars ($15,000,000).
(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.
(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.
However, if a school corporation has sustained loss by disaster, this limitation may be waived by the state board after consulting with the department and the budget agency.
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.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.