Sec. 3. (a) A career scholarship student who currently maintains a CSA account or an ESA account and participates in the CSA program is entitled to an annual grant amount for each school year until the student:

(1) graduates; or

(2) obtains:

(A) a certificate of completion under the student’s individualized education program; or

(B) an Indiana high school equivalency diploma under IC 22-4.1-18.

     (b) A career scholarship student may not receive a grant under this section after graduating, receiving an Indiana high school equivalency diploma, or obtaining a certificate of completion. The CSA annual grant amount shall be paid from the CSA program fund. The treasurer of state, with notice to the department, shall deposit the CSA annual grant amount under this section, in quarterly deposits, into a career scholarship student’s:

(1) CSA account; or

(2) ESA account if the student participates in the ESA program;

in a manner established by the treasurer of state.

     (c) Except as provided in subsection (d), at the end of the year in which a CSA account is established, the parent of a career scholarship student or the emancipated career scholarship student may roll over for use in a subsequent year a maximum of one thousand dollars ($1,000). However, for each year thereafter, the parent of the career scholarship student or emancipated eligible student may roll over one thousand dollars ($1,000) plus any amount rolled over in a previous year.

     (d) A career scholarship student’s CSA account shall terminate the later of:

(1) the date the student graduates high school or obtains an Indiana high school equivalency diploma; or

(2) July 1 of the year in which the student graduates high school or obtains an Indiana high school equivalency diploma.

Any money, including interest that remains in the career scholarship student’s CSA account when it terminates under this subsection, reverts to the state general fund.

As added by P.L.202-2023, SEC.62.