A lessor corporation qualified or formed to acquire a site, erect a school building on the site, and lease the school building to a school corporation or the public education corporation under IC 20-47-2 or IC 20-47-3 may:

1. (1) be qualified or formed to acquire, improve, or expand an existing school building;
2. (2) acquire, improve, or expand an existing school building;
3. (3) finance an existing school building or improved school building; and

4. (4) lease an existing school building or improved school building to a school corporation or the public education corporation under applicable law.

   [Pre-2006 Recodification Citation: 21-5-9-2(a).]

As added by P.L.2-2006, SEC.170. Amended by P.L.101-2026, SEC.58.