The DUAB may adopt policies and procedures that will be used by the DUAB to implement this chapter. Policies and procedures adopted under this section may include processes that will be used by the DUAB to do the following:

1. (1) Identify school corporations that demonstrate signs of financial distress.
2. (2) Determine when a corrective action plan is necessary for a school corporation.

3. (3) Determine the conditions that must be satisfied before a school corporation:

   1. (A) will no longer be subject to a corrective action plan; and
   2. (B) will be considered as financially healthy.

As added by P.L.213-2018(ss), SEC.15. Amended by P.L.184-2023, SEC.18; P.L.236-2023, SEC.136.