IN SB0421

Allows Greene Township in St. Joseph County (population 3,100-3,500) to disannex from one school corporation and join another through a process requiring approval from both the acquiring school corporation's governing body and the township's fiscal body

Prohibits disannexation if the territory contains school buildings currently in use, buildings with outstanding bond debt, or buildings under lease by the relinquishing school corporation

Requires state board review and approval of a disannexation plan within 90 days, including a public hearing and evaluation of educational equity, economic impacts, and effects on both school corporations

Allows disannexation to proceed either through a petition signed by 51% of registered voters in the territory or through a public ballot question at the next primary or general election

Taxpayers in disannexed territory remain liable for their proportional share of the relinquishing school corporation's pre-existing debt, with the territory forming a special taxing district to pay that obligation