Indiana § 20-49-4-7 - "School building construction program"
Full text of Indiana Indiana Code § 20-49-4-7 — "School building construction program", with citation guidance and answers to common questions.
§ 20-49-4-7. "School building construction program"
Sec. 7. (a) As used in this chapter, "school building construction program" means the following:
(1) The purchase, lease, or financing of land, the construction and equipping of school buildings, and the remodeling, repairing, or improving of school buildings by a school corporation:
(A) that sustained a loss from a disaster;
(B) whose assessed valuation per current ADM is within the lowest forty percent (40%) of assessed valuation per current ADM when compared with all school corporation assessed valuation per current ADM; or
(C) with an advance under this chapter outstanding on July 1, 1993, that bears interest of at least seven and one-half percent (7.5%).
(2) The purchase, lease, or financing of land, the construction and equipping of school buildings, and the remodeling, repairing, or improving of school buildings by a charter school.
(b) The term does not include facilities used or to be used primarily for interscholastic or extracurricular activities. If a program involves a school corporation career and technical education school described in IC 20-37-1-1, the assessed valuation and current ADM of all those school corporations that are members of the career and technical education school are to be used for making determinations under this section.
[Pre-2006 Recodification Citation: 21-1-5-3(b).]
As added by P.L.2-2006, SEC.172. Amended by P.L.113-2010, SEC.99; P.L.205-2013, SEC.308; P.L.40-2014, SEC.9; P.L.189-2023, SEC.43.
Frequently Asked Questions About Indiana § 20-49-4-7
What does Indiana Code § 20-49-4-7 cover?
Section 20-49-4-7 (""School building construction program"") 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 § 20-49-4-7?
A common citation format is "Indiana Code § 20-49-4-7" (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 § 20-49-4-7 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.