Indiana § 20-40-18-2 - Sources of revenue
Full text of Indiana Indiana Code § 20-40-18-2 — Sources of revenue, with citation guidance and answers to common questions.
§ 20-40-18-2. Sources of revenue
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: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 20-40-18-2
What does Indiana Code § 20-40-18-2 cover?
Section 20-40-18-2 ("Sources of revenue") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 20-40-18-2?
A common citation format is "Indiana Code § 20-40-18-2" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 20-40-18-2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.