Indiana Code Title 20. Education § 20-52-4-1

Sec. 1. (a) After August 31, 2022, a parent of an enrichment student may establish an Indiana enrichment scholarship account for the eligible student by entering into a written agreement with the department on a form prepared by the department. The department may establish deadlines for the submission of applications. The account of an enrichment student shall be made in the name of the enrichment student. The department shall make the agreement available on the Internet web site of the department. To be eligible, a parent of an enrichment student wishing to participate in the program must agree that:

(b) A parent of an enrichment student may enter into a separate agreement under subsection (a) for each child of the parent. However, not more than one (1) account may be established for each enrichment student.

(c) An agreement entered into under this section for an enrichment student terminates automatically for the enrichment student if the enrichment student no longer resides in Indiana while the enrichment student is eligible to receive grants under section 2 of this chapter.

(d) An agreement made under this section for an enrichment student may be terminated before the end of the school year if the parent of the enrichment student notifies the department in a manner specified by the department.

(e) A distribution made to an account under section 2 of this chapter is considered tax exempt as long as the distribution is used for a qualified expense. The amount is subtracted from the definition of adjusted federal gross income under IC 6-3-1-3.5 to the extent the distribution used for the qualified expense is included in the taxpayer's adjusted federal gross income under the Internal Revenue Code.