IC 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.