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Indiana Code — Title 6 (Taxation)

IC 6-1.1-20.3-8.7

Restrictions on school corporations designated as distressed

Official textiga.in.govlast amended

Sec. 8.7. A school corporation that is designated a distressed political subdivision may not do any of the following without the approval of the board during the period before the board terminates the school corporation's status as a distressed political subdivision:

# (1)

Acquire real property for school building purposes.

# (2)

Construct new school buildings or remodel or renovate existing school buildings.

# (3)

Incur a contractual obligation (except for a maintenance contract or an employment contract for a new employee whose employment replaces the employment of a former employee) that requires an expenditure of more than thirty thousand dollars ($30,000).

# (4)

Purchase or enter into an agreement to purchase personal property at a cost of more than thirty thousand dollars ($30,000).

# (5)

Adopt or advertise a budget, tax levy, or tax rate for an ensuing budget year.
As added by P.L.145-2012, SEC.12. Amended by P.L.241-2017, SEC.12; P.L.213-2018(ss), SEC.10.

Amendment history

As added by P.L.145-2012, SEC.12. Amended by P.L.241-2017, SEC.12; P.L.213-2018(ss), SEC.10.

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Nearby sections (25 sections)
  1. 6-1.1-20.3-6 · Petitions to the board; petition by treasurer of state
  2. 6-1.1-20.3-6.5 · Designation of distressed political subdivisions;…
  3. 6-1.1-20.3-6.7 · "Township assistance property tax rate"; designation of
  4. 6-1.1-20.3-6.8 · Designation of Gary Community School Corporation as a
  5. 6-1.1-20.3-6.9 · Repealed
  6. 6-1.1-20.3-7 · Repealed
  7. 6-1.1-20.3-7.1 · Repealed
  8. 6-1.1-20.3-7.5 · Appointment of emergency manager; representation by
  9. 6-1.1-20.3-8 · Repealed
  10. 6-1.1-20.3-8.3 · Review of school corporation petition for a loan
  11. 6-1.1-20.3-8.4 · Expired
  12. 6-1.1-20.3-8.5 · Powers and duties of emergency manager
  13. 6-1.1-20.3-8.7 · Restrictions on school corporations designated as…
  14. 6-1.1-20.3-9 · Frequency of meetings; record of proceedings;…
  15. 6-1.1-20.3-9.9 · Petition to board appealing decision by emergency…
  16. 6-1.1-20.3-10 · Petition for judicial review
  17. 6-1.1-20.3-11 · Court rules; procedure
  18. 6-1.1-20.3-12 · Burden of proof; findings of fact; grounds for relief
  19. 6-1.1-20.3-13 · Petition for termination of distressed status;…
  20. 6-1.1-20.3-14 · Repealed
  21. 6-1.1-20.3-15 · Requests for technical assistance from the board
  22. 6-1.1-20.3-16 · Distressed school corporations; governing body; employee
  23. 6-1.1-20.3-17 · Expired
  24. 6-1.1-20.4-1 · "Homestead"
  25. 6-1.1-20.4-2 · "Property tax liability"
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