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Sale of school building bill signed by governor

Updated: April 29, 2013 10:41PM



INDIANAPOLIS — The ability to sell a school building will become easier since Gov. Mike Pence signed a bill this month speeding up the process.

House Bill 1012, signed into law April 1, allows a school corporation to sell an unused building after making the school available for a charter school for two years, with an option to reduce the time to one month by filing a waiver.

Prior to the new law, a school corporation would have to wait for four years before selling the building. If a charter school decided it wanted the building, the building would be sold or leased for a dollar.

If the charter school later sells the building to a third party, the revenue returns to the original school corporation.

If the school corporation submits a waiver, a charter school has 30 days to notify the Department of Education of their intent to purchase the school.

Democrats, including State Rep. Vernon Smith of Gary, say the change helps schools who need to sell assets to relieve financial stress, but requiring a school corporation to sell to charters first at a low cost makes it harder to cover increased costs.



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