Sources of revenue

Ind. Code § 20-40-18-2

in effect

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: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/20Fetched: 10/17/2026