IN HB1350

Establishes the Rewarding Innovation, Technology, and Excellence (RITE) program administered by the Department of Education to provide grants to schools demonstrating improvement toward state board benchmarks through innovation, technology use, or other excellence efforts

Requires school corporations applying for grants to certify information to the department for two school years demonstrating their improvement toward established benchmarks

Mandates a 1:1 local matching requirement for grant recipients, with matching funds allowed from school corporations, public school foundations, community foundations, or private sources

Caps individual school corporation grants at $50,000 total across all fiscal years and limits total program grants to all school corporations at $1,000,000

Funds the program through appropriations from the innovation fund established by P.L.229-2011, effective July 1, 2012