IN HB1011

Reestablishes a small school grant program for school corporations with current Average Daily Membership (ADM) below 2,400 and a complexity index greater than 0.1, effective July 1, 2014.

Eligible school corporations with complexity index greater than 0.2 receive grants calculated as the lesser of: (Step 3 result) or $192 multiplied by current ADM, where Step 3 involves multiplying the difference between 2,400 and current ADM by $1, then by current ADM.

Eligible school corporations with complexity index between 0.1 and 0.2 receive grants calculated as the lesser of: (Step 3 result) or $91 multiplied by current ADM, using the same Step 3 calculation method.

Excludes charter schools from the grant program.

Appropriates from the state general fund a sufficient amount to distribute grants for the fiscal year July 1, 2014 through June 30, 2015, with this appropriation authority expiring July 1, 2015.