Sec. 14. (a) Not later than March 1, a school corporation shall estimate the:
(1) transfer tuition payments that the school corporation is required to pay for students transferring from the school corporation; and
(2) transfer tuition payments that the school corporation is entitled to receive on behalf of students transferring to the school corporation.
A school corporation shall send a preliminary statement of the amount of transfer tuition due to the state agency and to any school corporation that owes transfer tuition to the school corporation.
(b) Not later than October 1 following the end of a school year, a school corporation shall send a final statement of the amount of transfer tuition due to the state agency and to any school corporation that owes transfer tuition to the school corporation.
(c) A statement sent under subsection (a) or (b) must include the following:
(1) A statement, to the extent known, of all transfer tuition costs chargeable to the state or school corporation for the school year ending in the current calendar year.
(2) A statement of any transfer tuition costs chargeable to the state or school corporation and not previously billed for the school year ending in the immediately preceding calendar year.
(3) A statement of any transfer tuition costs previously billed to the state or school corporation and not yet paid.
(d) Transfer tuition for each school year shall be paid by the transferor corporation or state, if the entity is obligated to pay the tuition, in not more than four (4) installments. These installments must be paid not later than October 30, January 10, April 10, and July 10 following the school year in which the obligation is incurred, unless another schedule is mutually agreed upon.
(e) Payment of operating costs shall be paid from and receipted to the respective operations funds of the transferor and transferee corporations. Payment of capital costs shall be made by the transferor corporation at its discretion from the operations fund or debt service fund and shall be receipted by the transferee corporation either to the operations fund or to the debt service fund in the same proportion as the payments were made from each fund.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-8.1-6.1-9.]
As added by P.L.1-2005, SEC.10. Amended by P.L.244-2017, SEC.51.