Indiana Code Title 21. Higher Education § 21-18-16-2

Sec. 2. (a) The commission shall create a higher educational operating funding outcomes based formula that aligns with the goals outlined in the commission's long range plan for postsecondary education under IC 21-18-8.

(b) The commission shall create a separate higher educational operating funding outcomes based formula for Ivy Tech Community College that:

(c) An outcomes based funding formula must be created and approved by the commission at a meeting of the commission on or before October 1 of each even-numbered year prior to each odd-numbered year in which the general assembly will reconvene in a first regular session and consider a state budget bill.

(d) The commission shall approve the metrics used for an outcomes based funding formula created under this chapter.