Indiana Code Title 20. Education § 20-27-7-18

Sec. 18. (a) A school corporation that owns a school bus or a special purpose bus and uses the school bus or special purpose bus to transport students is exempt from the payment of the annual registration fee for the school bus or special purpose bus.  On application by a school corporation, the commissioner of motor vehicles shall furnish registration number plates for exempted vehicles without charge.  Application for registration of exempted vehicles shall be:

(b) An owner other than a school corporation that owns a school bus or a special purpose bus and uses the school bus or special purpose bus to transport students is not exempt from annual registration under IC 9-18.1-3 or payment of the annual registration fee for school buses.