Note: This version of section effective until 1-1-2020. See also following version of this section, effective 1-1-2020.

1. (1) capital assets; or

2. (2) projects that are considered capital in nature under section 7 of this chapter, including technology related projects.

   The department of local government finance shall prescribe the information that is required in a plan.

3. (b) The department of local government finance shall prescribe the format of the plan. A plan must:

   1. (1) apply to at least the three (3) years immediately following the year the plan is adopted;
   2. (2) estimate for each year to which the plan applies the nature and amount of proposed capital expenditures from the fund; and

   3. (3) estimate:

      1. (A) the source of all revenue to be dedicated to the proposed capital expenditures in the upcoming calendar year; and
      2. (B) the amount of property taxes to be collected in the upcoming calendar year and retained in the fund for capital expenditures proposed for a later year.

4. (c) If a school corporation wants to use money in the operations fund during the year to pay for any items listed in section 7 of this chapter that are considered capital in nature, the governing body must adopt a resolution approving the plan or amended plan. The school corporation shall post the proposed plan or proposed amended plan on the school corporation's Internet web site before the hearing. The governing body must hold a hearing on the adoption of the resolution as follows:

   1. (1) For a school corporation that has not elected to adopt a budget under IC 6-1.1-17-5.6 or for which a resolution adopted under IC 6-1.1-17-5.6 (d) is in effect, the school corporation must hold the hearing and adopt the resolution after January 1 and not later than November 1 of the immediately preceding year.

   2. (2) For a school corporation that elects to adopt a budget under IC 6-1.1-17-5.6 , the school corporation must hold the hearing and adopt the resolution after January 1 and not later than April 1 of the immediately preceding school fiscal year.

      The governing body shall publish a notice of the hearing in accordance with IC 5-3-1-2 (b). The notice must include the address of the school corporation's Internet web site. The governing body may hold the hearing and include the notice as part of a regular governing body meeting or part of the same hearing and notice for a school bus replacement plan. If an amendment to a capital projects expenditure plan is being proposed, the governing body must declare the nature of and the need for the amendment in the resolution to adopt the amendment to the plan. The plan, as proposed to be amended, must comply with the requirements for a plan under this section.

5. (d) If a governing body adopts the resolution specified in subsection (c), the school corporation must then submit the resolution to the department of local government finance in the manner prescribed by the department.
6. (e) This subsection applies to an amendment to a plan that is required because of an emergency that results in costs that exceed the amount accumulated in the fund for repair, replacement, or site acquisition that is necessitated by an emergency. The governing body is not required to comply with subsection (c) or (d). If the governing body determines that an emergency exists, the governing body may adopt a resolution to amend the plan. An amendment to the plan is not subject to the deadline and the procedures for adoption described in this section.

Sec. 6. (a) A school corporation's capital projects expenditure plan or amended plan must limit proposed expenditures to those described in section 7 of this chapter. The plan must include all proposed expenditures that exceed ten thousand dollars ($10,000) and are for:

As added by P.L.244-2017, SEC.86. Amended by P.L.140-2018, SEC.16.