This was posted pre-season on the NFHS website.
2006-07 NFHS Basketball Rules Interpretations
SITUATION 9: With less than one minute to play in the fourth quarter, Team A scores a field goal to tie the game. B1, standing under the basket after the score, secures the ball and begins heading to the end line for the ensuing throw-in. A1 requests and is granted a time-out. RULING: Legal procedure. Team A may request and be granted a time-out until the ensuing throw-in begins. The throw-in does not begin until B1 has the ball at his/her disposal and the official has begun the five-second count.
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