CHAPTER 12. RESTORATION GRANTS

IC 20-43-12

    

Chapter 12. Restoration Grants

IC 20-43-12-1

Authorization

    

Sec. 1. A school corporation is entitled to a restoration grant.

As added by P.L.182-2009(ss), SEC.343.

IC 20-43-12-2

Calculation of grant

    

Sec. 2. The amount of the restoration grant to which a school
corporation is entitled in calendar year 2010 and calendar year 2011
is equal to the result determined under the following formula:

        STEP ONE: Determine the school corporation's basic tuition
support for the current year.

        STEP TWO: Determine the amount of the school corporation's
previous year revenue that applies to the determination of the
school corporation's basic tuition support for the 2010 calendar
year.

        STEP THREE: Determine the sum of:

            (A) the STEP TWO amount divided by the school
corporation's 2009 ADM; plus

            (B) twenty-five dollars ($25) for 2010 and seventy-five
dollars ($75) for 2011.

        STEP FOUR: Determine the result of:

            (A) the school corporation's STEP THREE amount;
multiplied by

            (B) the school corporation's ADM for the current year.

        STEP FIVE: Determine the sum of:

            (A) the STEP TWO amount divided by the school
corporation's 2009 ADM; minus

            (B) twenty-five dollars ($25) for 2010 and seventy-five
dollars ($75) for 2011.

        STEP SIX: Determine the result of:

            (A) the school corporation's STEP FIVE amount; multiplied
by

            (B) the school corporation's ADM for the current year.

        STEP SEVEN: Determine the lesser of:

            (A) the STEP FOUR amount; or

            (B) the STEP TWO amount.

        STEP EIGHT: Determine the greater of:

            (A) the STEP SEVEN amount; or

            (B) the STEP SIX amount.

        STEP NINE: Determine the greater of zero (0) or the result of:

            (A) the STEP EIGHT amount; minus

            (B) the STEP ONE amount.

        STEP TEN: Determine the sum of the current year basic tuition
support plus the STEP NINE amount.

        STEP ELEVEN: Determine the result of the following:

            (A) For 2010, divide the STEP TEN amount by the STEP

TWO amount.

            (B) For 2011, divide:

                (i) the STEP TEN amount; by

                (ii) the sum of the prior year basic tuition support plus the
prior year STEP NINE amount.

        STEP TWELVE: Determine the greater of:

            (A) zero (0); or

            (B) the result of:

                (i) ninety-seven hundredths (0.97); minus

                (ii) the STEP ELEVEN amount.

        STEP THIRTEEN: Determine the lesser of:

            (A) two hundred twenty dollars ($220) for 2010 and three
hundred fifty dollars ($350) for 2011; or

            (B) the result of:

                (i) the STEP TWELVE amount multiplied by nine
thousand five hundred (9,500), in 2010; and

                (ii) the STEP TWELVE amount multiplied by twelve
thousand (12,000), in 2011.

        STEP FOURTEEN: Determine the product of:

            (A) the STEP THIRTEEN amount; multiplied by

            (B) the school corporation's current ADM.

        STEP FIFTEEN: Determine the sum of:

            (A) the STEP NINE amount; plus

            (B) the STEP FOURTEEN amount.

As added by P.L.182-2009(ss), SEC.343. As amended by
P.L.109-2010, SEC.6.