Note: This version of section effective until 1-1-2019. See also following repeal of this chapter, effective 1-1-2019.

1. (1) January 1, 1998, through June 30, 1999; or
2. (2) any subsequent universal service program year for which a school corporation initially makes an application to the program.
3. (b) All money saved by a school corporation as a result of universal service discounts provided to the school corporation under the federal Telecommunications Act of 1996 must be transferred to the fund.

4. (c) For purposes of this section, the amount of money saved by a school corporation as a result of universal service discounts during the base year and any subsequent universal service program year is equal to:

   1. (1) the sum of all reimbursements in the form of cash or discounts received or eligible to be received under the universal service program during the base year; minus

   2. (2) discounts from expenditures made from the debt service and capital projects funds during the base year for one (1) time costs such as new construction or remodeling projects.

      [Pre-2006 Recodification Citation: 21-2-11-6.5(b).]

Sec. 4. (a) As used in this section, "base year" means:

As added by P.L.2-2006, SEC.163.