Indiana · 2026 session · house
+161 / −323 words · LargeConfidence: high
This round of amendments fundamentally restructures the financial and operational framework of the Indianapolis public education corporation by removing previously planned debt service fund transfers and levy responsibilities while establishing new governance controls, property restrictions, and dual taxation structures. The changes eliminate the corporation's scheduled assumption of the school city's debt service fund management effective July 1, 2026, and related payment priority provisions, while adding a temporary board approval requirement for all corporate borrowing between March 31, 2026 and July 1, 2027. New provisions establish separate annual property tax levies for both school city and corporation obligations within the same territory, restrict the corporation's control over participating school property and funding sources, and create an appeal process allowing the corporation to escalate denied school closures to the state board. The amendments also clarify that pre-April 2026 bonds and contracts remain with the school city, expand lessor corporation authority to lease directly to public education corporations, and establish new annual review requirements for bond levies and debt service capacity by the Department of Local Government Finance.
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