1. (a) This section applies if:

   1. (1) an authorizer:

      1. (A) revokes a charter before the end of the term for which the charter is granted; or
      2. (B) does not renew a charter; or
   2. (2) a charter school otherwise terminates its charter before the end of the term for which the charter is granted.
2. (b) Any state funds that remain to be distributed to the charter school in the state fiscal year in which an event described in subsection

3. (a) occurs shall be distributed to the entities that distributed the funds to the charter school. A distribution under this subsection must be on a pro rata basis.

   [Pre-2005 Elementary and Secondary Education Recodification Citation: 20-5.5-7-9.]

As added by P.L.1-2005, SEC.8. Amended by P.L.2-2006, SEC.109; P.L.146-2008, SEC.463; P.L.205-2013, SEC.233; P.L.250-2017, SEC.20.