Sec. 10. A school corporation to which an advance is made under this chapter may annually levy a property tax in the debt service fund to replace the amount withheld under this chapter in the current year from the distribution of state tuition support. The amount received from the tax must be transferred from the debt service fund to the general fund (before January 1, 2019) or the education fund (after December 31, 2018).
As added by P.L.211-2018(ss), SEC.13.
Structure Indiana Code
Article 49. State Management of Common School Funds; State Advances and Loans
Chapter 10. Advancement From Common School Fund; Improvements in School Security
20-49-10-4. School Corporation and Charter School Safety Advance Program Established
20-49-10-5. Use of Advance; Maximum Amount of Advance; Determination of Maximum Amount of Advance
20-49-10-7. Terms and Conditions of an Advance
20-49-10-9. Withholding; Eligibility Determination
20-49-10-10. Property Tax Levy
20-49-10-11. Advance Not a Constitutional Debt
20-49-10-12. Security Interest; Procedure to Redetermine Security Interest; Limitation