IC 20-40-18-2 — Sources of revenue
Chapter 18. School Corporation Operations Fund
Bills amending this section
Section text
Sec. 2. (a) The operations fund shall be used to deposit the following after December 31, 2018, in the case of a school corporation: (1) Revenue from the school corporation's operations fund property tax levy under IC 20-46-8. (2) The sum of the following excise tax revenue received for deposit in the fund in the calendar year in which the school year begins: (A) Financial institutions excise tax (IC 6-5.5). (B) Motor vehicle excise taxes (IC 6-6-5). (C) Commercial vehicle excise taxes (IC 6-6-5.5). (D) Boat excise tax (IC 6-6-11). (E) Aircraft license excise tax (IC 6-6-6.5). (3) Transfers from the education fund (IC 20-40-2) or the operating referendum tax levy fund (IC 20-40-3), if any. (4) Allocations of local income taxes to the school corporation under IC 6-3.6-6, if any. (b) In the case of a charter school, the operations fund shall be used to deposit amounts distributed to the charter school under IC 20-46-8-11.2 or IC 20-46-8-12 after December 31, 2024.
As added by P.L.244-2017, SEC.86. Amended by P.L.201-2023, SEC.186; P.L.68-2025, SEC.213.
Source: official publisher (2026 edition)