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 higher
education.
(2) One (1) representative of the budget agency.
(3) One (1) representative from each state educational
institution. 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 is
established to provide state educational institutions with grants to
match interest income generated by an endowment to attract and
retain distinguished teachers. The fund shall be administered by the
council.
(b) The expenses of administering the fund shall be paid from
money in the fund.
(c) The treasurer of state shall invest the money in the fund not
currently needed to meet obligations of the fund in the same manner
as other public funds may be invested.
(d) Money in the fund at the end of the state fiscal year does not
revert to the state general fund but remains available to be used for
providing 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 state
educational institution or a foundation must establish an endowment
subject 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 in
matching money granted from the fund.
(3) A donor to the endowment must restrict the gift for the sole
purpose of generating income to attract and retain distinguished
scholars.
(4) An institution or a foundation may not designate an
unrestricted donation, endowment, or any other contribution
made 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 matching
grant 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 distributing
endowment 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 distributing
endowment 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 matching
grant application within sixty (60) days after the application is
received by the council.
(b) The council may approve a grant application with an amount
that is the same or less than the amount requested by the state
educational 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 be
used to supplement, and may not be used instead of, a distinguished
teacher's regular annual salary.
(b) The council may not approve a matching grant from the fund
that exceeds income generated from the endowment of the
institution. 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 commission
for 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 a
state educational institution does not constitute a commitment to
match endowment income in excess of the current appropriation in
any 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.
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 higher
education.
(2) One (1) representative of the budget agency.
(3) One (1) representative from each state educational
institution. 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 is
established to provide state educational institutions with grants to
match interest income generated by an endowment to attract and
retain distinguished teachers. The fund shall be administered by the
council.
(b) The expenses of administering the fund shall be paid from
money in the fund.
(c) The treasurer of state shall invest the money in the fund not
currently needed to meet obligations of the fund in the same manner
as other public funds may be invested.
(d) Money in the fund at the end of the state fiscal year does not
revert to the state general fund but remains available to be used for
providing 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 state
educational institution or a foundation must establish an endowment
subject 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 in
matching money granted from the fund.
(3) A donor to the endowment must restrict the gift for the sole
purpose of generating income to attract and retain distinguished
scholars.
(4) An institution or a foundation may not designate an
unrestricted donation, endowment, or any other contribution
made 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 matching
grant 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 distributing
endowment 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 distributing
endowment 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 matching
grant application within sixty (60) days after the application is
received by the council.
(b) The council may approve a grant application with an amount
that is the same or less than the amount requested by the state
educational 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 be
used to supplement, and may not be used instead of, a distinguished
teacher's regular annual salary.
(b) The council may not approve a matching grant from the fund
that exceeds income generated from the endowment of the
institution. 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 commission
for 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 a
state educational institution does not constitute a commitment to
match endowment income in excess of the current appropriation in
any 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.
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 higher
education.
(2) One (1) representative of the budget agency.
(3) One (1) representative from each state educational
institution. 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 is
established to provide state educational institutions with grants to
match interest income generated by an endowment to attract and
retain distinguished teachers. The fund shall be administered by the
council.
(b) The expenses of administering the fund shall be paid from
money in the fund.
(c) The treasurer of state shall invest the money in the fund not
currently needed to meet obligations of the fund in the same manner
as other public funds may be invested.
(d) Money in the fund at the end of the state fiscal year does not
revert to the state general fund but remains available to be used for
providing 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 state
educational institution or a foundation must establish an endowment
subject 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 in
matching money granted from the fund.
(3) A donor to the endowment must restrict the gift for the sole
purpose of generating income to attract and retain distinguished
scholars.
(4) An institution or a foundation may not designate an
unrestricted donation, endowment, or any other contribution
made 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 matching
grant 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 distributing
endowment 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 distributing
endowment 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 matching
grant application within sixty (60) days after the application is
received by the council.
(b) The council may approve a grant application with an amount
that is the same or less than the amount requested by the state
educational 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 be
used to supplement, and may not be used instead of, a distinguished
teacher's regular annual salary.
(b) The council may not approve a matching grant from the fund
that exceeds income generated from the endowment of the
institution. 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 commission
for 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 a
state educational institution does not constitute a commitment to
match endowment income in excess of the current appropriation in
any 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.
