Ind. Code ch. 20-44-3

Ind. Code ch. 20-44-3
in effect

Ind. Code § 20-44-3-1 "Fund"

Sec. 1. As used in this chapter, "fund" refers to a levy excess fund established under IC 20-40-10-2. [2006 Recodification Citation: New.] As added by P.L.2-2006, SEC.167. Amended by P.L.1-2007, SEC.153.

Ind. Code § 20-44-3-2 "Levy excess" defined; limitation

Sec. 2. As used in this chapter, "levy excess" means that part of the property tax levy actually collected by a school corporation for taxes first due and payable during a particular calendar year that exceeds the school corporation's total levy, as approved by the department of local government finance under IC 6-1.1-17, for those property taxes. The term does not include delinquent ad valorem property taxes collected during a particular year that were assessed for an assessment date that precedes the assessment date for the current year in which the ad valorem property taxes are collected. [Pre-2006 Recodification Citation: 6-1.1-19-1.7(a).] As added by P.L.2-2006, SEC.167. Amended by P.L.154-2006, SEC.68.

Ind. Code § 20-44-3-3 Validity; levy excess

Sec. 3. A school corporation's levy excess is valid. [Pre-2006 Recodification Citation: 6-1.1-19-1.7(b) part.] As added by P.L.2-2006, SEC.167. Amended by P.L.146-2008, SEC.491.

Ind. Code § 20-44-3-4 Required deposit of levy excess; levy excess fund

Sec. 4. Except as provided in section 9 of this chapter, a school corporation shall deposit its levy excess in a fund to be known as the school corporation's levy excess fund. [Pre-2006 Recodification Citation: 6-1.1-19-1.7(b) part.] As added by P.L.2-2006, SEC.167.

Ind. Code § 20-44-3-5 Inclusion of balance in budget

Sec. 5. The department of local government finance shall require a school corporation to include the amount in the school corporation's fund in the school corporation's budget fixed under IC 6-1.1-17. [Pre-2006 Recodification Citation: 6-1.1-19-1.7(d).] As added by P.L.2-2006, SEC.167.

Ind. Code § 20-44-3-6 Expenditure after appropriation; reduction of maximum levy

Sec. 6. Except as provided in section 7 of this chapter, a school corporation may not spend money in its fund until the expenditure of the money has been included in a budget that has been approved by the department of local government finance under IC 6-1.1-17. For purposes of fixing its budget and for purposes of the property tax levy limits fixed by law, a school corporation shall treat the money in its fund that the department of local government finance permits the school corporation to spend during a particular calendar year as part of the school corporation's property tax levy for that same calendar year. [Pre-2006 Recodification Citation: 6-1.1-19-1.7(e).] As added by P.L.2-2006, SEC.167.

Ind. Code § 20-44-3-7 Transfer between funds

Sec. 7. A school corporation may transfer money from its fund to its other funds to reimburse those funds for amounts withheld from the school corporation as a result of refunds paid under IC 6-1.1-26. [Pre-2006 Recodification Citation: 6-1.1-19-1.7(f).] As added by P.L.2-2006, SEC.167.

Ind. Code § 20-44-3-8 Repealed

[Pre-2006 Recodification Citation: 6-1.1-19-1.7(g).] As added by P.L.2-2006, SEC.167. Repealed by P.L.233-2015, SEC.302.

Ind. Code § 20-44-3-9 Minimum balance

Sec. 9. If the amount that would be deposited in the fund of a school corporation for a particular calendar year is less than ten thousand dollars ($10,000), no money shall be deposited in the fund of the school corporation for that year. [Pre-2006 Recodification Citation: 6-1.1-19-1.7(h).] As added by P.L.2-2006, SEC.167. Amended by P.L.244-2017, SEC.93.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/20Fetched: 10/17/2026