Here's the IC pertaining to Charters
https://iga.in.gov/laws/2020/ic/titles/20#20-24
Here's the specific IC for the laws they don't have to follow.
IC 20-24-8-4Statutes, rules, and regulations not applicable
Sec. 4. Except as specifically provided in this article and the statutes listed in section 5 of this chapter, the following do not apply to a charter school:
(1) An Indiana statute applicable to a governing body or school corporation.
(2) A rule or guideline adopted by the state board.
(3) A rule or guideline adopted by the state board concerning teachers, except for those rules that assist a teacher in gaining or renewing a standard or advanced license.
(4) A local regulation or policy adopted by a school corporation unless specifically incorporated in the charter.
Here's all the IC they do have to follow per the section above that I pasted.
IC 20-24-8-5Applicable statutes, rules, and guidelines
Sec. 5. The following statutes and rules and guidelines adopted under the following statutes apply to a charter school:
(1)
IC 5-11-1-9 (required audits by the state board of accounts).
(2)
IC 20-39-1-1 (unified accounting system).
(3)
IC 20-35 (special education).
(4)
IC 20-26-5-10 (criminal history).
(5)
IC 20-26-5-6 (subject to laws requiring regulation by state agencies).
(6)
IC 20-28-10-12 (nondiscrimination for teacher marital status).
(7)
IC 20-28-10-14 (teacher freedom of association).
(8)
IC 20-28-10-17 (school counselor immunity).
(9) For conversion charter schools only if the conversion charter school elects to collectively bargain under
IC 20-24-6-3(b),
IC 20-28-6,
IC 20-28-7.5,
IC 20-28-8,
IC 20-28-9, and
IC 20-28-10.
(10)
IC 20-33-2 (compulsory school attendance).
(11)
IC 20-33-8-19,
IC 20-33-8-21, and
IC 20-33-8-22 (student due process and judicial review).
(12)
IC 20-33-8-16 (firearms and deadly weapons).
(13)
IC 20-34-3 (health and safety measures).
(14)
IC 20-33-9 (reporting of student violations of law).
(15)
IC 20-30-3-2 and
IC 20-30-3-4 (patriotic commemorative observances).
(16)
IC 20-31-3,
IC 20-32-4,
IC 20-32-5 (for a school year ending before July 1, 2018),
IC 20-32-5.1 (for a school year beginning after June 30, 2018),
IC 20-32-8, and
IC 20-32-8.5, as provided in
IC 20-32-8.5-2(b) (academic standards, accreditation, assessment, and remediation).
(17)
IC 20-33-7 (parental access to education records).
(18)
IC 20-31 (accountability for school performance and improvement).
(19)
IC 20-30-5-19 (personal financial responsibility instruction).
(20)
IC 20-26-5-37.3, before its expiration (career and technical education reporting).
(21)
IC 22-2-18, before its expiration on June 30, 2021 (limitations on employment of minors).
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-5.5-8-5.]
It's still a public school. You're not taking funding away from the public school system since the charter is a public school. The funding follows the student and isn't earmarked to a particular public school. The student is just going to a different public school now. The transfer works the other way too. If a student transfers from a charter to a non-charter public school, the money follows the student to the non-charter public school.