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Senate Bill 0501


Senate Bill 0501

ARCHIVE (2003)

Latest Information

 

DIGEST OF SB 501 (Updated April 27, 2003 12:02 AM - DI 103)


Charter schools. Specifies that the school employees of a conversion charter school cannot have their benefits or employment with the school corporation that sponsored the charter school terminated. Allows a school corporation to increase its maximum levy by the amount of any local funding provided to a charter school. Excludes the levy increase from the school corporation's previous year revenue and tuition support calculation. Requires the department of local government finance to inform each county auditor of the amount of local funding to distribute to a charter school. Creates a separate average daily membership ("ADM") count for a charter school. Provides that all university sponsors together may sponsor not more than five charter schools each year. Provides that a university may not sponsor a charter school in Marion County. Requires a university to conduct a public meeting in the county where the university intends to sponsor a charter school. Prohibits the mayor of a consolidated city from banking charter schools from 2003 through 2005. Requires the department of education ("department") to distribute tuition support and other state funding to a charter school beginning in the second semester of the charter school's operation. Requires the department to provide the department of local government finance information necessary to calculate a charter school's share of local funding. Provides that the school corporation in which a conversion charter school is located provides state funding and a proportionate share of local funding to the conversion charter school during its first semester of operation. Requires the organizer of a charter school to apply for federal funding. Allows a charter school to borrow from the common school fund for first semester operational costs and operational costs associated with a growth in enrollment of at least 15%. Provides for repayment of any outstanding obligation from the common school fund of a charter school that terminates operation. Provides that the at risk and complexity indices for a charter school are the at risk and complexity indices of the school corporation in which the charter school is located. Provides that the at risk and complexity indices for Campagna Academy Charter School are the weighted averages of the at risk and complexity indices of the school corporations in which the charter school's students have legal settlement. Includes charter schools in the following categorical distributions: (1) free lunch and textbook reimbursement; (2) primetime; (3) at risk; (4) growing enrollment; (5) academic honors diploma; (6) special education; and (7) vocational education. Forgives outstanding obligations of charter schools from the abandoned property fund. States the intent of the general assembly to fund charter schools under the same formula as other school corporations. Resolves conflicts.
    Current Status:
     Law Enacted
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