Ind. Code § 20-49-5-5
Reimbursement of interest; notice between school corporations
Redline — January 1, 2018 → current.View current text →
Current — January 1, 2025
As of January 1, 2018
Sec. 5. A school corporation receiving an advance shall notify the school corporation or auditor of state from which the school corporation receives transfer tuition under IC 20-26-11 for students described in IC 20-26-11-8(a) or IC 20-26-11-8(b) of the amount of interest withheld under section 4 of this chapter. The school corporation or auditor of state shall reimburse the school corporation for the interest expense at the same time the transfer tuition is paid.
Sec. 5. A school corporation receiving an advance shall notify the school corporation or state comptroller from which the school corporation receives transfer tuition under IC 20-26-11 for students described in IC 20-26-11-8(a) or IC 20-26-11-8(b) of the amount of interest withheld under section 4 of this chapter. The school corporation or state comptroller shall reimburse the school corporation for the interest expense at the same time the transfer tuition is paid.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.