Indiana Code 21-12-16-8 v2. Amount of scholarship awards; limits; distribution
Sec. 8. (a) Subject to subsections (b) and (c), if an applicant meets the requirements under section 5 of this chapter, the commission may award, for not more than four (4) academic years, a scholarship to the applicant in an amount of seven thousand five hundred dollars ($7,500) for each academic year that the applicant attends the accredited postsecondary educational institution approved by the commission under section 10 of this chapter.
Terms Used In Indiana Code 21-12-16-8 v2
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(1) Award a scholarship under section 5 of this chapter in an amount of more than a total of thirty thousand dollars ($30,000) to an individual applicant.
(2) Award scholarships under section 5 of this chapter to more than two hundred (200) new applicants each academic year.
(c) If the total amount to be distributed from the fund in a state fiscal year exceeds the amount available for distribution, the amount to be distributed to each eligible applicant shall be proportionately reduced so that the total reductions equal the amount of the excess.
As added by P.L.105-2016, SEC.1. Amended by P.L.242-2023, SEC.4.