1. (a) Subject to sections 5 and 10 of this chapter, the annual grant amount under section 2 of this chapter for an eligible student equals, subject to subsection (b), ninety percent (90%) of the amount determined in the last STEP of the following formula:

   1. (A) the STEP TWO amount; divided by
   2. (B) the current ADM (as defined in IC 20-43-1-10 ) for the school corporation identified under STEP ONE for the state fiscal year used in STEP TWO.

   STEP ONE: Determine the school corporation in which the eligible student has legal settlement.

   STEP TWO: Determine the amount of state tuition support that the school corporation identified under STEP ONE is eligible to receive under IC 20-43-6 for the state fiscal year in which the immediately preceding school year begins. The amount does not include amounts provided for special education grants under IC 20-43-7 , career and technical education grants under IC 20-43-8 , grants under IC 20-43-10 , or an academic performance grant under IC 20-43-10.5 .

   STEP THREE: Determine the result of:

2. (b) An eligible student may choose to receive special education services from the school corporation required to provide the special education services to the eligible student under 511 IAC 7-34-1. However, if an eligible student described in subsection (a) chooses not to receive special education or related services from a school corporation required to provide the services to the eligible student under 511 IAC 7-34-1, the ESA annual grant amount for the eligible student shall, in addition to the amount described in subsection (a), include the amount the school corporation would receive under IC 20-43-7 for the eligible student if the eligible student attended the school corporation.
3. (c) The ESA annual grant amounts provided in subsection (a) shall be rounded as provided in IC 20-43-3-1 (4).

As added by P.L.165-2021, SEC.180. Amended by P.L.201-2023, SEC.224; P.L.202-2023, SEC.53; P.L.9-2024, SEC.411.