Sec. 3. To assist a school corporation in providing the school corporation's educational program to a student placed in a facility or home as described in IC 20-26-11-8 (a) or IC 20-26-11-8 (b) and not later than October 1 of each school year, the state board may advance money to a school corporation in anticipation of the school corporation's receipt of transfer tuition for students described in IC 20-26-11-8 (a) or IC 20-26-11-8 (b). The amount of the advance may not exceed the amount determined under STEP TWO of the following formula: STEP ONE: Estimate for the current school year the number of students described in IC 20-26-11-8 (a) or IC 20-26-11-8 (b) that are transferred to the school corporation. STEP TWO: Multiply the STEP ONE amount by the school corporation's prior year per student transfer tuition amount. [Pre-2006 Recodification Citation: 21-1-5.1-2.]
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