Ind. Code ch. 20-40-3

Ind. Code ch. 20-40-3
in effect

Ind. Code § 20-40-3-1 "Fund"

Sec. 1. As used in this chapter, "fund" refers to an operating referendum tax levy fund established under section 3 of this chapter. [2006 Recodification Citation: New.] As added by P.L.2-2006, SEC.163. Amended by P.L.244-2017, SEC.73.

Ind. Code § 20-40-3-2 "Levy"

Sec. 2. As used in this chapter, "levy" refers to a property tax levy imposed under IC 20-46-1 for the fund. [2006 Recodification Citation: New.] As added by P.L.2-2006, SEC.163.

Ind. Code § 20-40-3-3 Establishment of fund

Sec. 3. The governing body of each school corporation for which a levy is: (1) transferred; or (2) approved; under IC 20-46-1 shall establish an operating referendum tax levy fund. [Pre-2006 Recodification Citation: 21-2-11.6-3(a).] As added by P.L.2-2006, SEC.163. Amended by P.L.244-2017, SEC.74.

Ind. Code § 20-40-3-4 Source of fund balances

Sec. 4. Property tax collections from a levy shall be deposited in the fund. [Pre-2006 Recodification Citation: 21-2-11.6-3(c) part.] As added by P.L.2-2006, SEC.163.

Ind. Code § 20-40-3-5 Uses; transfers to education or operations fund

Sec. 5. Money in the fund may be used for any lawful school expenses, including making a transfer to the school corporation's education fund (IC 20-40-2) or operations fund (IC 20-40-18). [Pre-2006 Recodification Citation: 21-2-11.6-3(c) part.] As added by P.L.2-2006, SEC.163. Amended by P.L.244-2017, SEC.75; P.L.154-2020, SEC.40; P.L.189-2023, SEC.28; P.L.68-2025, SEC.211.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/20Fetched: 10/17/2026

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