Introduced Version
HOUSE BILL No. 1284
_____
DIGEST OF INTRODUCED BILL
Citations Affected: IC 21-2.
Synopsis: Transfer of unused funds. Allows money in a fund
maintained by a school corporation to be transferred to another school
fund if the transfer does not increase the property tax levy imposed for
the fund from which the money is transferred. Repeals obsolete
provisions governing transfers among funds.
Effective: July 1, 2003.
Austin
January 13, 2003, read first time and referred to Committee on Ways and Means.
Introduced
First Regular Session 113th General Assembly (2003)
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HOUSE BILL No. 1284
A BILL FOR AN ACT to amend the Indiana Code concerning
education finance.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 21-2-4-8; (03)IN1284.1.1. -->
SECTION 1.
IC 21-2-4-8
IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2003]: Sec. 8. A school corporation may transfer money to or
from the debt service fund under
IC 21-2-11-4.
SOURCE: IC 21-2-11-4; (03)IN1284.1.2. -->
SECTION 2.
IC 21-2-11-4
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 4. (a) Any lawful
school expenses payable from any other fund of the school corporation,
including without limitation debt service and capital outlay, but
excluding costs attributable to transportation (as defined in
IC 21-2-11.5-2) may be budgeted in and paid from the general fund.
Costs attributable to transportation (as described in
IC 21-2-11.5-2
) shall be budgeted and paid from a fund established
under
IC 21-2-11.5-2
and not the general fund.
(b) In addition, remuneration for athletic coaches (whether or not
they are otherwise employed by the school corporation and whether or
not they are licensed under
IC 20-6.1-3
) may be budgeted in and paid
from the school corporation's general fund.
(c) A school corporation may transfer money obtained from a
source other than a state distribution or local property taxation
among any account of the school corporation. A school corporation
may transfer money obtained from a state distribution or a
property tax levy among the general fund, the school
transportation fund (
IC 21-2-11.5-2
), school bus replacement fund
(IC 21-2-11.5-2), capital projects fund (IC 21-2-15-4), special
education preschool fund (IC 21-2-17-1), and debt service fund
(IC 21-2-4-2). Money transferred under this subsection may be
used for the purposes of the fund to which the money is
transferred. A transfer under this subsection may not be the sole
basis for reducing the property tax levy for the fund from which
the money is transferred or the fund to which money is
transferred. The property tax levy for a fund from which money
was transferred may not be increased to replace the money
transferred to another fund.
SOURCE: IC 21-2-11.5-6; (03)IN1284.1.3. -->
SECTION 3.
IC 21-2-11.5-6
IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2003]: Sec. 6. A school corporation may transfer money to or
from the school transportation fund or school bus replacement
fund under
IC 21-2-11-4.
SOURCE: IC 21-2-15-12; (03)IN1284.1.4. -->
SECTION 4.
IC 21-2-15-12
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 12. (a) Interest on the
capital projects fund, including the fund's pro rata share of interest
earned on the investment of total money on deposit, shall be deposited
in the fund. However, the governing body may adopt a resolution to
transfer any interest earned on money on deposit in the capital projects
fund to the school corporation's general fund.
(b) A school corporation may transfer money to or from the
capital projects fund under
IC 21-2-11-4.
SOURCE: IC 21-2-17-5; (03)IN1284.1.5. -->
SECTION 5.
IC 21-2-17-5
IS ADDED TO THE INDIANA CODE
AS A
NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2003]:
Sec. 5. A school corporation may transfer money to or
from the special education preschool fund under
IC 21-2-11-4.
SECTION 6. THE FOLLOWING ARE REPEALED [EFFECTIVE
JULY 1, 2003]:
IC 21-2-4-7
;
IC 21-2-11.5-5
;
IC 21-2-15-13.1.