IC 20-49-5-5: Reimbursement of interest; notice between school corporations

Sec. 5. A school corporation receiving an advance shall notify the school corporation or state comptroller from which the school corporation receives transfer tuition under IC 20-26-11 for students described in IC 20-26-11-8(a) or IC 20-26-11-8(b) of the amount of interest withheld under section 4 of this chapter. The school corporation or state comptroller shall reimburse the school corporation for the interest expense at the same time the transfer tuition is paid.