1. (a) The governing body of each school corporation shall establish an education fund for the payment of expenses that are allocated to student instruction and learning under IC 20-42.5 .

2. (b) The governing body of a charter school that receives a distribution of revenue received from a tax levy under IC 20-46-8-11.2 or IC 20-46-8-12 shall establish an education fund for the payment of expenses that are allocated to student instruction and learning under IC 20-42.5 .

   [Pre-2006 Recodification Citation: 21-2-11-2 part.]

As added by P.L.2-2006, SEC.163. Amended by P.L.244-2017, SEC.67; P.L.201-2023, SEC.181; P.L.68-2025, SEC.210.