Indiana Code Title 20. Education § 20-24-13-5

Sec. 5. (a) This section applies to a charter school that does not qualify for a grant under subsection (c).  Each year, such a charter school may apply for an annual grant under this chapter.

(b) The application under subsection (a) must be submitted after July 1 and before September 1 of a state fiscal year for a grant that is requested to be made during that state fiscal year.

(c) The state board shall determine if the charter school is placed in the same or a better category or designation of performance established under IC 20-31-8-3 for the most recently completed school year than the nearest noncharter public school that is configured to teach the same grades of students as the charter school teaches.  Except as provided in subsection (d), if the charter school has been placed in the same or a better category or designation of performance, the state board shall make the grant to the charter school.

(d) If a charter school:

the charter school is not eligible for a grant, unless the charter school is placed in the “C” category or designation of performance or better established under IC 20-31-8-3 for the most recently completed school year.