Sec. 2. (a) The commission shall create a higher educational operating funding outcomes based formula that aligns with the goals outlined in the commission’s long range plan for postsecondary education under IC 21-18-8.

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Terms Used In Indiana Code 21-18-16-2

  • outcomes based funding formula: refers to the higher educational operating funding outcomes based formula created by the commission under section 2(a) and 2(b) of this chapter. See Indiana Code 21-18-16-1
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
     (b) The commission shall create a separate higher educational operating funding outcomes based formula for Ivy Tech Community College that:

(1) aligns with the goals outlined in the commission’s long range plan for postsecondary education under IC 21-18-8; and

(2) focuses on employer needs, positive wage outcomes, and stackable credentials.

     (c) An outcomes based funding formula must be created and approved by the commission at a meeting of the commission on or before October 1 of each even-numbered year prior to each odd-numbered year in which the general assembly will reconvene in a first regular session and consider a state budget bill.

     (d) The commission shall approve the metrics used for an outcomes based funding formula created under this chapter.

As added by P.L.66-2022, SEC.4. Amended by P.L.201-2023, SEC.226.

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