(A) As used in this section:

(1) “Constant multiplier” means 0.50.

(2) “Base amount” means the maximum educational choice scholarship amount for the student’s grade level under division (A)(10)(a)(ii)(I) of section 3317.022 of the Revised Code for the fiscal year.

(3) “Federal poverty level multiplier” means a percentage equal to the student’s family income percentage of the federal poverty guidelines for the fiscal year.

(4) “Federal poverty guidelines” has the same meaning as in section 5101.46 of the Revised Code.

(5) “Power equation” means the following formula:

The federal poverty level multiplier X ln(constant multiplier)

(6) “Minimum amount” means an amount equal to the student’s base amount multiplied by ten per cent.

(B) The department of education and workforce shall determine the educational choice scholarship amount for a student described in division (A)(10)(a)(ii)(II) of section 3317.022 of the Revised Code for a fiscal year, as follows:

(1) For a student with a family adjusted gross income, as defined in section 5747.01 of the Revised Code, at or below four hundred fifty per cent of the federal poverty guidelines for the fiscal year, the base amount;

(2) For a student with a family adjusted gross income, as defined in section 5747.01 of the Revised Code, above four hundred fifty per cent of the federal poverty guidelines, an amount calculated according to the following formula:

The base amount X (1 / the constant multiplier)^4.5 X e^power equation

If the amount calculated for a student under division (B)(2) of this division is less than the minimum amount, the student’s scholarship amount shall be the minimum amount.

(C) For the purposes of calculating a scholarship amount for a student under this section, the department shall require a student’s parent to submit documentation regarding the student’s family income. The department shall use the documentation submitted for the first school year that the student has a scholarship amount calculated under this section to calculate the amount for that school year and each subsequent school year, unless, for a subsequent school year, the parent requests the department recalculate the student’s scholarship amount based on updated documentation.

A parent shall submit documentation, or a request for a recalculation, to the department in a form and manner prescribed by the department.