1. (a) Except as provided in subsection (b), the lease or contract of lease of an existing school building or improved school building to a school corporation or the public education corporation as authorized by this chapter must comply with all applicable terms of IC 20-47-2 or IC 20-47-3 , including:

   1. (1) the notice of hearing on the lease;
   2. (2) public hearing;
   3. (3) notice of execution of lease; and
   4. (4) the submission of plans and specifications for the improvement or expansion of the existing school building for approval by the state agencies designated in IC 20-47-2 or IC 20-47-3 or otherwise required by law or rule.

2. (b) If a school corporation or the public education corporation is occupying and using an existing school building during the renovation, remodeling, or expansion of the building, the lease or contract of lease may provide for the payment of lease rental by the school corporation or public education corporation for the use of the building during renovation, remodeling, or expansion.

   [Pre-2006 Recodification Citation: 21-5-9-3.]

As added by P.L.2-2006, SEC.170. Amended by P.L.101-2026, SEC.61.