IC 21-38-8
    Chapter 8. Indiana Excellence in Teaching Endowment

IC 21-38-8-1
Indiana excellence in teaching council; establishment
    Sec. 1. The Indiana excellence in teaching council is established.The council consists of nine (9) members as follows:
        (1) One (1) representative of the commission for highereducation.
        (2) One (1) representative of the budget agency.
        (3) One (1) representative from each state educationalinstitution.
As added by P.L.2-2007, SEC.279.

IC 21-38-8-2
Indiana excellence in teaching endowment; administration
    Sec. 2. (a) The Indiana excellence in teaching endowment isestablished to provide state educational institutions with grants tomatch interest income generated by an endowment to attract andretain distinguished teachers. The fund shall be administered by thecouncil.
    (b) The expenses of administering the fund shall be paid frommoney in the fund.
    (c) The treasurer of state shall invest the money in the fund notcurrently needed to meet obligations of the fund in the same manneras other public funds may be invested.
    (d) Money in the fund at the end of the state fiscal year does notrevert to the state general fund but remains available to be used forproviding money for grants as allowed under this chapter.
As added by P.L.2-2007, SEC.279. Amended by P.L.234-2007,SEC.56.

IC 21-38-8-3
Qualifications
    Sec. 3. To qualify for a matching grant from the fund, a stateeducational institution or a foundation must establish an endowmentsubject to the following criteria:
        (1) The endowment must be created after July 1, 1990.
        (2) Funds in the endowment must be solely dedicated for use inmatching money granted from the fund.
        (3) A donor to the endowment must restrict the gift for the solepurpose of generating income to attract and retain distinguishedscholars.
        (4) An institution or a foundation may not designate anunrestricted donation, endowment, or any other contributionmade before July 1, 1990, to qualify for a matching grant.
As added by P.L.2-2007, SEC.279.

IC 21-38-8-4
Application for matching grants    Sec. 4. A state educational institution must apply for a matchinggrant in the manner prescribed by the council.
As added by P.L.2-2007, SEC.279.

IC 21-38-8-5
Distribution of endowment funds; considerations
    Sec. 5. When determining a distinguished teacher's prominence,the council shall consider the following criteria when distributingendowment funds:
        (1) Evidence of excellent teaching ability.
        (2) Distinguished accomplishments.
        (3) Either:
            (A) productive scholarship; or
            (B) artistic achievement and superior talent.
The council may consider any other criteria for distributingendowment funds that the council determines appropriate.
As added by P.L.2-2007, SEC.279.

IC 21-38-8-6
Approval or disapproval of matching funds
    Sec. 6. (a) The council shall approve or disapprove a matchinggrant application within sixty (60) days after the application isreceived by the council.
    (b) The council may approve a grant application with an amountthat is the same or less than the amount requested by the stateeducational institution.
As added by P.L.2-2007, SEC.279.

IC 21-38-8-7
Matching grants; use
    Sec. 7. (a) Each matching grant from the fund is intended to beused to supplement, and may not be used instead of, a distinguishedteacher's regular annual salary.
    (b) The council may not approve a matching grant from the fundthat exceeds income generated from the endowment of theinstitution.
As added by P.L.2-2007, SEC.279.

IC 21-38-8-8
Staff
    Sec. 8. Staff for the council shall be provided by the commissionfor higher education.
As added by P.L.2-2007, SEC.279.

IC 21-38-8-9
Appropriation
    Sec. 9. An appropriation to the fund or a grant from the fund to astate educational institution does not constitute a commitment tomatch endowment income in excess of the current appropriation inany subsequent biennium.As added by P.L.2-2007, SEC.279.

IC 21-38-8-10
Council powers
    Sec. 10. The council may:
        (1) develop guidelines; and
        (2) adopt rules under IC 4-22-2;
to administer the fund and this chapter.
As added by P.L.2-2007, SEC.279.