IC 20-49-5
Chapter 5. Advancement From the Common School Fund for
Transfer Tuition Costs
IC 20-49-5-1 "Advance"
Sec. 1. As used in this chapter, "advance" refers to an advance
from the fund under this chapter. As added by P.L.2-2006, SEC.172.
IC 20-49-5-2 "Fund"
Sec. 2. As used in this chapter, "fund" refers to the common
school fund in the custody of the treasurer of state. As added by P.L.2-2006, SEC.172.
IC 20-49-5-3 State board; advance; purposes; maximum advance
Sec. 3. To assist a school corporation in providing the school
corporation's educational program to a student placed in a facility or
home as described in IC 20-26-11-8(a) or IC 20-26-11-8(b) and not
later than October 1 of each school year, the state board may advance
money to a school corporation in anticipation of the school
corporation's receipt of transfer tuition for students described in
IC 20-26-11-8(a) or IC 20-26-11-8(b). The amount of the advance
may not exceed the amount determined under STEP TWO of the
following formula:
STEP ONE: Estimate for the current school year the number of
students described in IC 20-26-11-8(a) or IC 20-26-11-8(b) that
are transferred to the school corporation.
STEP TWO: Multiply the STEP ONE amount by the school
corporation's prior year per student transfer tuition amount. As added by P.L.2-2006, SEC.172.
IC 20-49-5-4 Conditions of advance; certification; repayment agreement
Sec. 4. (a) To qualify for an advance, a school corporation shall
do the following:
(1) Certify to the state board the information described in
section 3 of this chapter.
(2) Request from the state board the anticipated amount of
transfer tuition not to exceed the amount described in section 3
of this chapter.
(3) Guarantee full repayment of the advance by agreeing to
have:
(A) one-half (1/2) of the amount of the advance deducted
from the monthly distribution of state tuition support
received by the school corporation six (6) months after the
advancement is made, with interest at the rate of four percent
(4%); and
(B) the balance of the amount of the advancement deducted
from the monthly distribution of state tuition support
received by the school corporation twelve (12) months after
the advancement is made, with interest at the rate of four
percent (4%).
(b) The deducted amounts shall be transferred by the state board
to the fund. As added by P.L.2-2006, SEC.172.
IC 20-49-5-5 Reimbursement of interest; notice between school corporations
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. As added by P.L.2-2006, SEC.172.
IC 20-49-5-6 Obligation to repay advance; effect of failure to receive transfer
tuition reimbursement; obligation not treated as debt
Sec. 6. (a) A school corporation's obligation to repay the
advancement may not be construed to be diminished or otherwise
affected if the school corporation in which the student has legal
settlement fails to pay the transfer tuition as required under
IC 20-26-11 to the transferee school corporation in a timely manner.
(b) An advance may not be construed to be an obligation of the
school corporation within the meaning of the limitation against
indebtedness under the Constitution of the State of Indiana. As added by P.L.2-2006, SEC.172.
IC 20-49-5
Chapter 5. Advancement From the Common School Fund for
Transfer Tuition Costs
IC 20-49-5-1 "Advance"
Sec. 1. As used in this chapter, "advance" refers to an advance
from the fund under this chapter. As added by P.L.2-2006, SEC.172.
IC 20-49-5-2 "Fund"
Sec. 2. As used in this chapter, "fund" refers to the common
school fund in the custody of the treasurer of state. As added by P.L.2-2006, SEC.172.
IC 20-49-5-3 State board; advance; purposes; maximum advance
Sec. 3. To assist a school corporation in providing the school
corporation's educational program to a student placed in a facility or
home as described in IC 20-26-11-8(a) or IC 20-26-11-8(b) and not
later than October 1 of each school year, the state board may advance
money to a school corporation in anticipation of the school
corporation's receipt of transfer tuition for students described in
IC 20-26-11-8(a) or IC 20-26-11-8(b). The amount of the advance
may not exceed the amount determined under STEP TWO of the
following formula:
STEP ONE: Estimate for the current school year the number of
students described in IC 20-26-11-8(a) or IC 20-26-11-8(b) that
are transferred to the school corporation.
STEP TWO: Multiply the STEP ONE amount by the school
corporation's prior year per student transfer tuition amount. As added by P.L.2-2006, SEC.172.
IC 20-49-5-4 Conditions of advance; certification; repayment agreement
Sec. 4. (a) To qualify for an advance, a school corporation shall
do the following:
(1) Certify to the state board the information described in
section 3 of this chapter.
(2) Request from the state board the anticipated amount of
transfer tuition not to exceed the amount described in section 3
of this chapter.
(3) Guarantee full repayment of the advance by agreeing to
have:
(A) one-half (1/2) of the amount of the advance deducted
from the monthly distribution of state tuition support
received by the school corporation six (6) months after the
advancement is made, with interest at the rate of four percent
(4%); and
(B) the balance of the amount of the advancement deducted
from the monthly distribution of state tuition support
received by the school corporation twelve (12) months after
the advancement is made, with interest at the rate of four
percent (4%).
(b) The deducted amounts shall be transferred by the state board
to the fund. As added by P.L.2-2006, SEC.172.
IC 20-49-5-5 Reimbursement of interest; notice between school corporations
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. As added by P.L.2-2006, SEC.172.
IC 20-49-5-6 Obligation to repay advance; effect of failure to receive transfer
tuition reimbursement; obligation not treated as debt
Sec. 6. (a) A school corporation's obligation to repay the
advancement may not be construed to be diminished or otherwise
affected if the school corporation in which the student has legal
settlement fails to pay the transfer tuition as required under
IC 20-26-11 to the transferee school corporation in a timely manner.
(b) An advance may not be construed to be an obligation of the
school corporation within the meaning of the limitation against
indebtedness under the Constitution of the State of Indiana. As added by P.L.2-2006, SEC.172.
IC 20-49-5
Chapter 5. Advancement From the Common School Fund for
Transfer Tuition Costs
IC 20-49-5-1 "Advance"
Sec. 1. As used in this chapter, "advance" refers to an advance
from the fund under this chapter. As added by P.L.2-2006, SEC.172.
IC 20-49-5-2 "Fund"
Sec. 2. As used in this chapter, "fund" refers to the common
school fund in the custody of the treasurer of state. As added by P.L.2-2006, SEC.172.
IC 20-49-5-3 State board; advance; purposes; maximum advance
Sec. 3. To assist a school corporation in providing the school
corporation's educational program to a student placed in a facility or
home as described in IC 20-26-11-8(a) or IC 20-26-11-8(b) and not
later than October 1 of each school year, the state board may advance
money to a school corporation in anticipation of the school
corporation's receipt of transfer tuition for students described in
IC 20-26-11-8(a) or IC 20-26-11-8(b). The amount of the advance
may not exceed the amount determined under STEP TWO of the
following formula:
STEP ONE: Estimate for the current school year the number of
students described in IC 20-26-11-8(a) or IC 20-26-11-8(b) that
are transferred to the school corporation.
STEP TWO: Multiply the STEP ONE amount by the school
corporation's prior year per student transfer tuition amount. As added by P.L.2-2006, SEC.172.
IC 20-49-5-4 Conditions of advance; certification; repayment agreement
Sec. 4. (a) To qualify for an advance, a school corporation shall
do the following:
(1) Certify to the state board the information described in
section 3 of this chapter.
(2) Request from the state board the anticipated amount of
transfer tuition not to exceed the amount described in section 3
of this chapter.
(3) Guarantee full repayment of the advance by agreeing to
have:
(A) one-half (1/2) of the amount of the advance deducted
from the monthly distribution of state tuition support
received by the school corporation six (6) months after the
advancement is made, with interest at the rate of four percent
(4%); and
(B) the balance of the amount of the advancement deducted
from the monthly distribution of state tuition support
received by the school corporation twelve (12) months after
the advancement is made, with interest at the rate of four
percent (4%).
(b) The deducted amounts shall be transferred by the state board
to the fund. As added by P.L.2-2006, SEC.172.
IC 20-49-5-5 Reimbursement of interest; notice between school corporations
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. As added by P.L.2-2006, SEC.172.
IC 20-49-5-6 Obligation to repay advance; effect of failure to receive transfer
tuition reimbursement; obligation not treated as debt
Sec. 6. (a) A school corporation's obligation to repay the
advancement may not be construed to be diminished or otherwise
affected if the school corporation in which the student has legal
settlement fails to pay the transfer tuition as required under
IC 20-26-11 to the transferee school corporation in a timely manner.
(b) An advance may not be construed to be an obligation of the
school corporation within the meaning of the limitation against
indebtedness under the Constitution of the State of Indiana. As added by P.L.2-2006, SEC.172.
