Sec. 13. An advance to a school corporation for any school building construction program may not exceed the greater of the following:
(1) Fifteen million dollars ($15,000,000).
(2) The product of fifteen thousand dollars ($15,000) multiplied by the number of students accommodated as a result of the school building construction program.
However, if a school corporation has sustained loss by disaster, this limitation may be waived by the state board after consulting with the department and the budget agency.
[Pre-2006 Recodification Citation: 21-1-5-4(b).]
As added by P.L.2-2006, SEC.172.