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.
(b) 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.
(c) 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.
Structure Indiana Code
Article 18. Commission for Higher Education
Chapter 16. Outcomes Based Funding Formula
21-18-16-1. "Outcomes Based Funding Formula"
21-18-16-2. Duty to Create Formula; Align With Long Range Plan for Postsecondary Education
21-18-16-3. Funding Formula Subject to Review by Budget Committee; Funding Formula Report
21-18-16-4. Duty to Present Funding Results for Each State Educational Institution at Budget Hearing
21-18-16-6. Audit of Data Submitted by Educational Institutions