Sec. 12. (a) Except as provided under section 15 of this chapter (before its expiration), a school corporation that enters into a contract under this chapter to be a freeway school corporation or to operate a freeway school must maintain the educational benefits that the school corporation agrees to achieve in the contract.
(b) Except as provided under section 15 of this chapter (before its expiration), if the state board determines that a freeway school corporation or freeway school has failed to maintain the educational benefits described in subsection (a) for two (2) consecutive or nonconsecutive school years beginning with the end of the sixth school year after a contract is signed under this chapter:
(1) the contract is void; and
(2) the school corporation ceases to be:
(A) a freeway school corporation; or
(B) eligible to operate a freeway school;
on July 1 following the second school year in which the freeway school corporation or freeway school failed to maintain the required educational benefits.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-5-62-12.]
As added by P.L.1-2005, SEC.10. Amended by P.L.108-2018, SEC.5.