SENATE BILL No. 410
DIGEST OF INTRODUCED BILL
Citations Affected: IC 20-40.
Synopsis: Transfers from school capital projects fund. Permits a
school corporation to transfer in 2011 and 2012 an amount not to
exceed 50% of its capital projects fund levy from its capital projects
fund to its general fund.
Effective: July 1, 2011.
January 11, 2011, read first time and referred to Committee on Appropriations.
First Regular Session 117th General Assembly (2011)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
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SENATE BILL No. 410
A BILL FOR AN ACT to amend the Indiana Code concerning
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 20-40-2-6; (11)IN0410.1.1. -->
SECTION 1. IC 20-40-2-6 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2011]: Sec. 6. (a) The governing body of a school corporation
may, in 2011 and in 2012, transfer to the fund from the school
corporation's capital projects fund an amount not to exceed fifty
percent (50%) of the school corporation's capital projects fund
levy under IC 20-46-6 for the year of the transfer.
(b) This section expires October 1, 2012.
SOURCE: IC 20-40-8-20; (11)IN0410.1.2. -->
SECTION 2. IC 20-40-8-20, AS AMENDED BY P.L.234-2007,
SECTION 231, IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2011]: Sec. 20. Money in the fund may be
transferred to another fund and used as provided by law. The laws
permitting a transfer of money from the fund include the following:
(1) IC 20-20-10-5 (implementation of technology preparation task
(2) IC 20-40-11-3 (repair and replacement fund).
(3) IC 20-40-12-6 (self-insurance fund).
(4) IC 20-49-4-22 (advance for educational technology program).
(5) IC 20-40-2-6 (general fund).