{"data":{"id":"us-in/ic-6-1.1-20.3-8.7","jurisdiction":"us-in","citation":"IC 6-1.1-20.3-8.7","heading":"Restrictions on school corporations designated as distressed","body":"Sec. 8.7. A school corporation that is designated a distressed political subdivision may not do any of the following without the approval of the board during the period before the board terminates the school corporation's status as a distressed political subdivision:\n(1) Acquire real property for school building purposes.\n(2) Construct new school buildings or remodel or renovate existing school buildings.\n(3) Incur a contractual obligation (except for a maintenance contract or an employment contract for a new employee whose employment replaces the employment of a former employee) that requires an expenditure of more than thirty thousand dollars ($30,000).\n(4) Purchase or enter into an agreement to purchase personal property at a cost of more than thirty thousand dollars ($30,000).\n(5) Adopt or advertise a budget, tax levy, or tax rate for an ensuing budget year.","path":["TITLE 6. TAXATION","ARTICLE 1.1. PROPERTY TAXES","Chapter 20.3. Distressed Political Subdivisions"],"source_url":"https://iga.in.gov/ic/2026/Title_6.html#6-1.1-20.3-8.7","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-09T01:51:39Z","sha256":"6380b0268f01fd5f3b283be85d8f5d074f4557f73bf735d8726a21d5ec47daa8","source_id":"us-in","stale":false,"prev":"us-in/ic-6-1.1-20.3-8.5","next":"us-in/ic-6-1.1-20.3-9"},"notice":"GroundRules: Original legal text. Not legal advice."}