Ind. Code ch. 20-25.7-7

Ind. Code § 20-25.7-7-1 Establishment of fund

Sec. 1. (a) The innovation network school grant fund is established to provide grants to an innovation network school, including a participating innovation network charter school. (b) The fund shall be administered by the state board. (c) The fund consists of the following: (1) Appropriations made by the general assembly. (2) Gifts, grants, or donations. (3) Interest accruing from investment of money in the fund. (d) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested. (e) Interest that accrues from investments of the fund shall be deposited in the fund. As added by P.L.214-2015, SEC.2. Amended by P.L.250-2017, SEC.27.

Ind. Code § 20-25.7-7-2 Administration of grants

Sec. 2. (a) An innovation network school may be awarded only one (1) grant under this chapter. (b) The state board shall determine the amount of a grant based on the plan submitted by a board. (c) The state board shall develop criteria for awarding a grant under this section, including documentation requirements that must be included with the plan. (d) A board shall apply for a grant under this section in a manner prescribed by the state board. Grant awards are limited to an innovation network school that has not received, or is not planning to receive, grant funding as a result of, or related to, its innovation network status, from other public or private sources. (e) An innovation network school receiving funding under this chapter shall use the funds for educational purposes. (f) The state board may adopt rules under IC 4-22-2 or guidelines necessary to administer this section. As added by P.L.214-2015, SEC.2. Amended by P.L.250-2017, SEC.28; P.L.86-2018, SEC.175.