Reinstates retroactively provisions for extending loans from the common school fund for the Gary Community School Corporation.

The bill reinstates retroactively provisions concerning loans from the common school fund for the Gary Community School Corporation, which expired on January 1, 2025. It allows the distressed unit appeal board to delay or suspend payments on these loans and requires the school corporation to establish a school improvement fund. The fund can be used for repairs, renovations, or other improvements to school buildings and property. The bill extends the expiration date of these provisions to January 1, 2028.

Reinstates retroactively provisions for extending loans from the common school fund for the Gary Community School Corporation.

The bill reinstates retroactively provisions concerning loans from the common school fund for the Gary Community School Corporation, which expired on January 1, 2025. It allows the distressed unit appeal board to delay or suspend payments on these loans and requires the school corporation to establish a school improvement fund. The fund can be used for repairs, renovations, or other improvements to school buildings and property. The bill extends the expiration date of these provisions to January 1, 2028.