Indiana Code 20-52-4-1. Establishment of enrichment account
(1) a grant deposited in the enrichment student’s account under section 2 of this chapter will be used only for the enrichment student’s qualified expenses;
Terms Used In Indiana Code 20-52-4-1
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(3) the parent will share the enrichment student’s ILEARN assessment results with the participating entity; and
(4) services relating to qualified enrichment services, activities, or programs will not be provided to the enrichment student while the enrichment student is receiving grade-level instruction in mathematics or English/Language Arts.
(b) A parent of an enrichment student may enter into a separate agreement under subsection (a) for each child of the parent. However, not more than one (1) account may be established for each enrichment student.
(c) An agreement entered into under this section for an enrichment student terminates automatically for the enrichment student if the enrichment student no longer resides in Indiana while the enrichment student is eligible to receive grants under section 2 of this chapter.
(d) An agreement made under this section for an enrichment student may be terminated before the end of the school year if the parent of the enrichment student notifies the department in a manner specified by the department.
(e) A distribution made to an account under section 2 of this chapter is considered tax exempt as long as the distribution is used for a qualified expense. The amount is subtracted from the definition of adjusted federal gross income under IC 6-3-1-3.5 to the extent the distribution used for the qualified expense is included in the taxpayer’s adjusted federal gross income under the Internal Revenue Code.
As added by P.L.168-2022, SEC.22. Amended by P.L.171-2023, SEC.11.