Indiana’s 2022-2023 Budget

Strengthening our commitment to students and teachers

• Invested a historic 1.9 billion in new dollars for K-12 education over the biennium as compared to the FY 21 appropriation levels

• Increased K-12 tuition support formula funding by $1.03 billion or 9.1% over the biennium as compared to the FY 21 appropriation level

Increased the Tuition Support Formula

•  FY 21 Appropriation = $7.51 billion
•  FY 22 Appropriation = $7.86 billion (+4.6% vs FY 21) +$345.6M vs. FY 21
•  FY 23 Appropriation = $8.20 billion (+4.3% vs FY 22)  +$685.6M or 9.1% vs. FY 21
• Total new dollars vs. FY 21 base funding:  $345.6M + $685.6M = $1.03 billion 
• Invested $150M in student learning recovery grants to address learning loss caused by COVID-19 closures (HB 1008)
• Increased the foundation grant (i.e., basic grant for every student) by 5.1% in FY 22 and 4.0% in FY 23
• Increased the complexity grant by $100 over FY 21.
• Increased most special education grants by 5% in FY 22 and 10% in FY 23
• Funded Career and Technical Education grants at FY 21 levels
• Increased funding by nearly 30% for school-based social/emotional health programs
• Provided $1M each year for the Teacher Residency grant program
• Increased funding for the Non-English Speaking program by more than 18%, or $5M per fiscal year
• Appropriated $37.5M per year for Teacher Appreciation Grants to reward effective and highly effective educators

Expanded school choice

Choice Scholarships

Expanded income eligibility to 300% FRL starting in FY 22 ▫ Increases all Choice scholarships to 90% or tuition and fees

Education Scholarship Accounts (ESAs)

Made ESAs available to all special education students with a family income of up to 300% FRL

Each eligible student will receive a scholarship equal to 90% of foundation plus complexity and 100% of the special education grant applicable to the student

Appropriated $3M in FY 22 for startup costs and $10M in FY 23 for ESAs

Scholarship granting organization (SGO) tax credits

Increased the annual cap on SGO tax credits to $17.5M in FY 22 and $18.5M in FY 23

Increased the per student Charter and Innovation Network Grant amounts to $1,000 in FY 22 and $1,250 in FY 23