Subject to section 1 of this chapter, a school corporation's early graduation award for a state fiscal year is the amount determined using the following formula:

1. (A) The student was enrolled in the school corporation on the fall count day of ADM established under IC 20-43-4-3 .
2. (B) The student successfully completed Indiana high school graduation requirements before the day in February fixed by the state board for the spring count of students under IC 20-43-4-3 .

3. (C) The student was not enrolled in the school corporation on the day in February fixed by the state board for the spring count of students under IC 20-43-4-3 .

   STEP TWO: Multiply the STEP ONE result by:

4. (A) for the state fiscal year beginning July 1, 2025, and ending June 30, 2026, one thousand four hundred ninety-one dollars ($1,491); and
5. (B) for the state fiscal year beginning July 1, 2026, and ending June 30, 2027, one thousand four hundred ninety-seven dollars ($1,497).

STEP ONE: Determine the number of students who met the following conditions during the student's expected graduation year (as defined in IC 20-26-13-4 ) for the school year ending in the previous state fiscal year:

As added by P.L.201-2023, SEC.212. Amended by P.L.213-2025, SEC.194.