Introduced Version
SENATE BILL No. 481
_____
DIGEST OF INTRODUCED BILL
Citations Affected: IC 20-20.
Synopsis: Real world and finance curriculum grant funds. Establishes
the real world readiness grant program (program) to provide grants to
eligible schools to better prepare students for life after graduation with
or without the assistance of a partnering organization. Establishes the
real world readiness fund (fund). Provides a procedure for eligible
schools to apply to the department of education (department) to receive
a grant from the fund. Requires the department to approve
organizations that may partner with an eligible school to facilitate the
program. Establishes the personal financial responsibility curriculum
grant program to provide grants to eligible schools to develop or adopt
personal financial responsibility curriculum. Establishes the personal
financial responsibility curriculum fund (financial responsibility fund).
Requires the department to establish guidelines: (1) an external
organization must meet to be eligible to partner with an eligible
applicant; and (2) to award grants to eligible applicants. Requires
applicants that receive a grant from the financial responsibility fund to
report student outcomes to the department, as developed by the
department.
Effective: July 1, 2025.
Donato, Rogers
January 13, 2025, read first time and referred to Committee on Education and Career
Development.
2025 IN 481—LS 7290/DI 152 Introduced
First Regular Session of the 124th General Assembly (2025)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
Constitution) is being amended, the text of the existing provision will appear in this style type,
additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional
provision adopted), the text of the new provision will appear in this style type. Also, the
word NEW will appear in that style type in the introductory clause of each SECTION that adds
a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts
between statutes enacted by the 2024 Regular Session of the General Assembly.
SENATE BILL No. 481
A BILL FOR AN ACT to amend the Indiana Code concerning
education.
Be it enacted by the General Assembly of the State of Indiana:
1 SECTION 1. IC 20-20-50 IS ADDED TO THE INDIANA CODE
2 AS A NEW CHAPTER TO READ AS FOLLOWS [EFFECTIVE
3 JULY 1, 2025]:
4 Chapter 50. Real World Readiness Grant Program and Fund
5 Sec. 1. As used in this chapter, "eligible school" means a:
6 (1) public high school, including a charter school (as defined
7 in IC 20-24-1-4); or
8 (2) state accredited nonpublic high school.
9 Sec. 2. As used in this chapter, "fund" refers to the real world
10 readiness fund established by section 7 of this chapter.
11 Sec. 3. As used in this chapter, "partnering organization" means
12 an external organization that has been approved by the
13 department under section 9 of this chapter.
14 Sec. 4. As used in this chapter, "program" refers to the real
15 world readiness grant program established by section 5 of this
16 chapter.
17 Sec. 5. The real world readiness grant program is established to
2025 IN 481—LS 7290/DI 152 2
1 provide grants to eligible schools to better prepare students for life
2 after graduation by developing and implementing learning
3 opportunities, independently or in partnership with a partnering
4 organization, that do the following:
5 (1) Integrate real world business challenges into curriculum.
6 (2) Create experiential learning techniques intended to make
7 education more engaging and motivating for students.
8 (3) Develop critical thinking, problem solving, collaboration,
9 and communication skills for the modern workforce.
10 (4) Provide access to high quality education and resources to
11 students from diverse backgrounds.
12 (5) Provide opportunities for career exploration and the
13 creation of clear pathways to achieve professional goals.
14 Sec. 6. Subject to appropriation by the general assembly, the
15 department shall administer the program.
16 Sec. 7. The real world readiness fund is established. The
17 department shall use money in the fund to provide grants to
18 eligible schools to develop and implement, or partner with a
19 partnering organization to provide, learning opportunities for
20 students to better prepare students for life after graduation.
21 Sec. 8. (a) The fund consists of the following:
22 (1) Appropriations from the general assembly.
23 (2) Gifts to the fund.
24 (3) Grants, including grants from private entities.
25 (4) Other state funds that are transferred to the fund.
26 (b) The expenses of administering the fund shall be paid from
27 money in the fund.
28 (c) The treasurer of state shall invest the money in the fund not
29 currently needed to meet the obligations of the fund in the same
30 manner as other public money may be invested. Interest that
31 accrues from these investments shall be deposited into the fund.
32 (d) Money in the fund at the end of a state fiscal year does not
33 revert to the state general fund.
34 Sec. 9. (a) The department shall develop guidelines to award
35 grants to eligible schools. The guidelines developed by the
36 department must consider the following:
37 (1) The ability of an eligible school, independently or in
38 partnership with a partnering organization, to provide:
39 (A) integrative real world business challenges into
40 curriculum;
41 (B) experiential learning techniques intended to make
42 education more engaging and motivating for students;
2025 IN 481—LS 7290/DI 152 3
1 (C) for the development of critical thinking, problem
2 solving, collaboration, and communication skills for the
3 modern workforce;
4 (D) access to high quality education and resources to
5 students from diverse backgrounds; and
6 (E) opportunities for career exploration and the creation
7 of clear pathways to achieve professional goals.
8 (2) Any other criteria the department considers relevant.
9 (b) If an eligible school requests to partner with an organization
10 to facilitate the purposes of the program, the department must
11 approve the organization before awarding a grant under this
12 chapter. In determining whether an organization may be approved
13 as a partnering organization, the department must consider the
14 organization's ability to do the following:
15 (1) Secure industry or employer partnerships in local
16 communities.
17 (2) Develop replicable project based challenges.
18 (3) Provide career mentorship to students.
19 (4) Connect students directly to career exposure and real
20 world opportunities.
21 (5) Provide on the ground curriculum and case project
22 implementation support to teachers and eligible schools.
23 (6) Provide an established track record of:
24 (A) decreasing student absenteeism;
25 (B) increasing student graduation rates; and
26 (C) increasing career readiness or postsecondary success.
27 (7) Meet any other criteria the department considers relevant.
28 Sec. 10. An eligible school may apply to the department to
29 receive a grant from the fund on a form provided by the
30 department. The application must require the following
31 information:
32 (1) The number of students who will be served by the grant
33 and an estimated cost per student served.
34 (2) How the eligible schools will measure and report student
35 success in the program.
36 (3) Evidence supporting an eligible school's ability to meet the
37 guidelines described in section 9(a) of this chapter.
38 (4) Evidence supporting a partnering organization's ability to
39 meet the criteria described in section 9(b) of this chapter, if
40 the eligible school intends to partner with an organization.
41 (5) Any other information the department considers relevant.
42 Sec. 11. The department may adopt rules under IC 4-22-2 as
2025 IN 481—LS 7290/DI 152 4
1 necessary to carry out the duties imposed by this chapter.
2 SECTION 2. IC 20-20-51 IS ADDED TO THE INDIANA CODE
3 AS A NEW CHAPTER TO READ AS FOLLOWS [EFFECTIVE
4 JULY 1, 2025]:
5 Chapter 51. Personal Financial Responsibility Curriculum
6 Grant Program and Fund
7 Sec. 1. As used in this chapter, "eligible applicant" means a:
8 (1) public school, including a charter school (as defined in
9 IC 20-24-1-4); or
10 (2) state accredited nonpublic school;
11 with students enrolled in grade 8, 9, 10, 11, or 12.
12 Sec. 2. As used in this chapter, "fund" refers to the personal
13 financial responsibility curriculum fund established by section 6 of
14 this chapter.
15 Sec. 3. As used in this chapter, "personal financial responsibility
16 curriculum" refers to the personal financial responsibility
17 instruction described in IC 20-30-5-19.
18 Sec. 4. As used in this chapter, "program" refers to the personal
19 financial responsibility curriculum grant program established by
20 section 5 of this chapter.
21 Sec. 5. The personal financial responsibility curriculum grant
22 program is established to provide grants to eligible applicants to:
23 (1) independently develop; or
24 (2) partner with an external organization to adopt;
25 personal financial responsibility curriculum.
26 Sec. 6. (a) The personal financial responsibility curriculum fund
27 is established. The department shall use money from the fund to
28 provide grants to eligible applicants to develop or adopt personal
29 financial responsibility curriculum.
30 (b) The fund consists of the following:
31 (1) Appropriations to the fund from the general assembly.
32 (2) Gifts to the fund.
33 (3) Grants, including grants from private entities.
34 (4) Other state funds that are transferred to the fund.
35 (c) The expenses of administering the fund shall be paid from
36 money in the fund.
37 (d) The treasurer of state shall invest the money in the fund not
38 currently needed to meet the obligations of the fund in the same
39 manner as other public money may be invested. Interest that
40 accrues from these investments shall be deposited in the fund.
41 (e) Money in the fund at the end of the state fiscal year does not
42 revert to the state general fund.
2025 IN 481—LS 7290/DI 152 5
1 Sec. 7. Subject to appropriation by the general assembly, the
2 department shall administer the program and fund.
3 Sec. 8. An eligible applicant may apply to the department to
4 receive a grant from the fund on a form provided by the
5 department. The application provided by the department must
6 require the following:
7 (1) The name of the external organization the eligible
8 applicant is requesting to partner with, if applicable.
9 (2) The number of students the grant would serve, if awarded.
10 (3) Any other information the department considers relevant.
11 Sec. 9. The department shall develop guidelines an external
12 organization must meet to be eligible to partner with an eligible
13 applicant. The guidelines developed by the department must
14 consider the following:
15 (1) The external organization's ability to meet the personal
16 financial responsibility instruction content requirements as
17 described in IC 20-30-5-19(b).
18 (2) The level of experiential student engagement offered by
19 the external organization.
20 (3) The external organization's experience in providing
21 financial literacy education.
22 (4) The external organization's ability to demonstrate
23 successful partnerships with schools in Indiana.
24 (5) Any other criteria the department considers relevant.
25 Sec. 10. The department shall develop guidelines to award
26 grants to eligible applicants.
27 Sec. 11. (a) The department shall develop student success
28 metrics for eligible applicants that receive a grant under this
29 chapter.
30 (b) Eligible applicants that receive a grant under this chapter
31 shall submit to the department, on forms developed by the
32 department, student outcomes using the metrics described under
33 subsection (a).
34 Sec. 12. The department may adopt rules under IC 4-22-2 to
35 implement this chapter.
2025 IN 481—LS 7290/DI 152