§ 20-51.4-4-2 — Eligibility for grant amount; termination of an account

Indiana § 20-51.4-4-2

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 51.4: INDIANA EDUCATION SCHOLARSHIP
• Ch. 4: ESA Program Fund and Accounts

Text

Note: This version of section effective until 7-1-2026. See also
following version of this section, effective 7-1-2026.
Sec. 2. (a) An eligible student who currently
maintains an ESA account is entitled to an ESA annual grant amount
for each school year until the student graduates or obtains a certificate
of completion under the student's individualized education program.
An eligible student may not receive a grant under this section after
graduating or obtaining a certificate of completion. The ESA annual
grant amount shall be paid from the ESA program fund. The treasurer
of state, with notice to the department, shall deposit the ESA annual
grant amount under this section, in quarterly deposits, into an eligible
student's ESA account in a manner established by the treasurer of state.
(b) Except as provided in subsection (c), at the end of the year in
which an ESA account is established, the parent of an eligible student
or the emancipated eligible student may roll over for use in a
subsequent year a maximum of one thousand dollars ($1,000).
However, for each year thereafter, the parent of the eligible student or
the emancipated eligible student may roll over one thousand dollars
($1,000) plus any amount rolled over in a previous year.
(c) An eligible student's ESA account shall terminate the later of:
(1) the date the student graduates high school; or
(2) July 1 of the year in the year which the student graduates high
school.
Any money, including interest that remains in the eligible student's
ESA account when it terminates under this subsection reverts to the
state general fund.

Legislative History

As added by P.L.165-2021, SEC.180. Amended by P.L.132-2022, SEC.5; P.L.202-2023, SEC.50.