HB 1329 Summary

• Establishes the Indiana Lifelong Learning Incentive for Excellence (LIFE) scholarship program administered by the state student assistance commission to provide scholarships to Indiana residents for postsecondary education.

• Creates the LIFE scholarship fund consisting of slot machine wagering taxes collected after June 30, 2012, and riverboat admissions taxes that would have otherwise gone to the state general fund to replace horse racing admissions tax subsidies.

• Sets scholarship amounts based on institution type: full tuition and fees at state institutions; average tuition and fees of the four highest-tuition state institutions for nonprofit private schools; and Ivy Tech Community College rates for for-profit institutions.

• Establishes eligibility requirements including U.S. citizenship or permanent residency, Indiana residency, Selective Service compliance, no defaults on federal or state educational loans, no drug-related felony convictions, and not being incarcerated.

• Requires freshman applicants to have graduated from an eligible Indiana high school, earned a GED, achieved a 3.0 GPA at a postsecondary institution, or completed a parent-directed nonaccredited instruction program; sophomore students must maintain a 3.0 GPA and satisfactory academic progress.