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 the veterans memorial school construction fund.
[Pre-2006 Recodification Citation: 21-1-11-9(b).]
As added by P.L.2-2006, SEC.172.
Structure Indiana Code
Article 49. State Management of Common School Funds; State Advances and Loans
Chapter 2. Administration of Veterans Memorial School Construction Fund; School Disaster Loan Fund
20-49-2-2. Establishment of Fund
20-49-2-3. Duties; State Board
20-49-2-4. Powers; Advancements to School Corporations; Purposes
20-49-2-5. Limitation; Total Loans From Fund
20-49-2-6. Limitations on Eligibility for Advancement
20-49-2-7. Required Compliance With Chapter
20-49-2-8. Limitations on Purposes of Advancements
20-49-2-9. Maximum Advancement; Nonemergency
20-49-2-10. Restrictions on Nonemergency Advancements
20-49-2-11. Disaster Loans; Maximum Advancement
20-49-2-12. Application Procedures
20-49-2-13. Calculations; School Building Index; Tax Ability
20-49-2-14. Prioritizing Nonemergency Loans
20-49-2-15. Repayment of Advancement; State Tuition Support
20-49-2-16. Power; Levy to Replace Amount Deducted From State Tuition Support