The amount of the stipend that a school corporation or charter schools may distribute to a teacher for a state fiscal year under this chapter must be within the following amounts:

1. (1) For a teacher who receives a stipend for a recognition designation, three thousand five hundred dollars ($3,500).
2. (2) For a teacher who receives a stipend for an exemplary designation, five thousand dollars ($5,000).
3. (3) For a teacher who receives a stipend for an exemplary plus designation, seven thousand five hundred dollars ($7,500).

As added by P.L.213-2025, SEC.198.