IC 20-40-7-1 "Costs attributable to transportation"
Sec. 1. As used in this chapter, "costs attributable to
transportation" has the meaning set forth in IC 20-40-6-1. As added by P.L.2-2006, SEC.163.
IC 20-40-7-2 "Fund"
Sec. 2. As used in this chapter, "fund" refers to a school bus
replacement fund established under section 5 of this chapter. As added by P.L.2-2006, SEC.163.
IC 20-40-7-3 "Levy"
Sec. 3. As used in this chapter, "levy" refers to a property tax levy
imposed under IC 20-46-5 for the fund. As added by P.L.2-2006, SEC.163.
IC 20-40-7-4 "Plan"
Sec. 4. "Plan" refers to a plan or amended plan adopted and
approved under IC 20-46-5. As added by P.L.2-2006, SEC.163.
IC 20-40-7-5 Establishment of fund
Sec. 5. The governing body of each school corporation shall
establish a school bus replacement fund. As added by P.L.2-2006, SEC.163.
IC 20-40-7-6 Uses; general provisions
Sec. 6. Except as otherwise provided by law, the fund is the
exclusive fund used to pay the following costs attributable to
transportation:
(1) Amounts paid for the replacement of school buses, either
through a purchase agreement or under a lease agreement.
(2) The costs of contracted transportation service payable from
the fund under section 7 of this chapter. As added by P.L.2-2006, SEC.163.
IC 20-40-7-7 Uses; expenditures; transportation, fleet, and common carrier
contracts
Sec. 7. (a) Before the last Thursday in August in the year
preceding the first school year in which a proposed contract
commences, the governing body of a school corporation may elect to
designate a part of a:
(1) transportation contract (as defined in IC 20-27-2-12);
(2) fleet contract (as defined in IC 20-27-2-5); or
(3) common carrier contract (as defined in IC 20-27-2-3);
as an expenditure payable from the fund.
(b) An election under this section must be made in a
transportation plan approved by the department of local government
finance under this chapter. The election applies throughout the term
of the contract.
(c) The amount that may be paid from the fund in a school year is
equal to the fair market lease value in the school year of each school
bus, school bus chassis, or school bus body used under the contract,
as substantiated by invoices, depreciation schedules, and other
documented information available to the school corporation.
(d) The allocation of costs under this section to the fund must
comply with the allocation guidelines adopted by the department of
local government finance and the accounting standards prescribed by
the state board of accounts. As added by P.L.2-2006, SEC.163.
IC 20-40-7-8 Requirement of expenditure plan
Sec. 8. The department of local government finance may approve
appropriations from the fund only if the appropriations conform to
a plan. As added by P.L.2-2006, SEC.163.
IC 20-40-7-1 "Costs attributable to transportation"
Sec. 1. As used in this chapter, "costs attributable to
transportation" has the meaning set forth in IC 20-40-6-1. As added by P.L.2-2006, SEC.163.
IC 20-40-7-2 "Fund"
Sec. 2. As used in this chapter, "fund" refers to a school bus
replacement fund established under section 5 of this chapter. As added by P.L.2-2006, SEC.163.
IC 20-40-7-3 "Levy"
Sec. 3. As used in this chapter, "levy" refers to a property tax levy
imposed under IC 20-46-5 for the fund. As added by P.L.2-2006, SEC.163.
IC 20-40-7-4 "Plan"
Sec. 4. "Plan" refers to a plan or amended plan adopted and
approved under IC 20-46-5. As added by P.L.2-2006, SEC.163.
IC 20-40-7-5 Establishment of fund
Sec. 5. The governing body of each school corporation shall
establish a school bus replacement fund. As added by P.L.2-2006, SEC.163.
IC 20-40-7-6 Uses; general provisions
Sec. 6. Except as otherwise provided by law, the fund is the
exclusive fund used to pay the following costs attributable to
transportation:
(1) Amounts paid for the replacement of school buses, either
through a purchase agreement or under a lease agreement.
(2) The costs of contracted transportation service payable from
the fund under section 7 of this chapter. As added by P.L.2-2006, SEC.163.
IC 20-40-7-7 Uses; expenditures; transportation, fleet, and common carrier
contracts
Sec. 7. (a) Before the last Thursday in August in the year
preceding the first school year in which a proposed contract
commences, the governing body of a school corporation may elect to
designate a part of a:
(1) transportation contract (as defined in IC 20-27-2-12);
(2) fleet contract (as defined in IC 20-27-2-5); or
(3) common carrier contract (as defined in IC 20-27-2-3);
as an expenditure payable from the fund.
(b) An election under this section must be made in a
transportation plan approved by the department of local government
finance under this chapter. The election applies throughout the term
of the contract.
(c) The amount that may be paid from the fund in a school year is
equal to the fair market lease value in the school year of each school
bus, school bus chassis, or school bus body used under the contract,
as substantiated by invoices, depreciation schedules, and other
documented information available to the school corporation.
(d) The allocation of costs under this section to the fund must
comply with the allocation guidelines adopted by the department of
local government finance and the accounting standards prescribed by
the state board of accounts. As added by P.L.2-2006, SEC.163.
IC 20-40-7-8 Requirement of expenditure plan
Sec. 8. The department of local government finance may approve
appropriations from the fund only if the appropriations conform to
a plan. As added by P.L.2-2006, SEC.163.
IC 20-40-7-1 "Costs attributable to transportation"
Sec. 1. As used in this chapter, "costs attributable to
transportation" has the meaning set forth in IC 20-40-6-1. As added by P.L.2-2006, SEC.163.
IC 20-40-7-2 "Fund"
Sec. 2. As used in this chapter, "fund" refers to a school bus
replacement fund established under section 5 of this chapter. As added by P.L.2-2006, SEC.163.
IC 20-40-7-3 "Levy"
Sec. 3. As used in this chapter, "levy" refers to a property tax levy
imposed under IC 20-46-5 for the fund. As added by P.L.2-2006, SEC.163.
IC 20-40-7-4 "Plan"
Sec. 4. "Plan" refers to a plan or amended plan adopted and
approved under IC 20-46-5. As added by P.L.2-2006, SEC.163.
IC 20-40-7-5 Establishment of fund
Sec. 5. The governing body of each school corporation shall
establish a school bus replacement fund. As added by P.L.2-2006, SEC.163.
IC 20-40-7-6 Uses; general provisions
Sec. 6. Except as otherwise provided by law, the fund is the
exclusive fund used to pay the following costs attributable to
transportation:
(1) Amounts paid for the replacement of school buses, either
through a purchase agreement or under a lease agreement.
(2) The costs of contracted transportation service payable from
the fund under section 7 of this chapter. As added by P.L.2-2006, SEC.163.
IC 20-40-7-7 Uses; expenditures; transportation, fleet, and common carrier
contracts
Sec. 7. (a) Before the last Thursday in August in the year
preceding the first school year in which a proposed contract
commences, the governing body of a school corporation may elect to
designate a part of a:
(1) transportation contract (as defined in IC 20-27-2-12);
(2) fleet contract (as defined in IC 20-27-2-5); or
(3) common carrier contract (as defined in IC 20-27-2-3);
as an expenditure payable from the fund.
(b) An election under this section must be made in a
transportation plan approved by the department of local government
finance under this chapter. The election applies throughout the term
of the contract.
(c) The amount that may be paid from the fund in a school year is
equal to the fair market lease value in the school year of each school
bus, school bus chassis, or school bus body used under the contract,
as substantiated by invoices, depreciation schedules, and other
documented information available to the school corporation.
(d) The allocation of costs under this section to the fund must
comply with the allocation guidelines adopted by the department of
local government finance and the accounting standards prescribed by
the state board of accounts. As added by P.L.2-2006, SEC.163.
IC 20-40-7-8 Requirement of expenditure plan
Sec. 8. The department of local government finance may approve
appropriations from the fund only if the appropriations conform to
a plan. As added by P.L.2-2006, SEC.163.
