Committee Passes Bill To Let Schools Contribute To Endowments
January 15, 2015 — TheStatehouseFile.com
INDIANAPOLIS — The Senate Education Committee tweaked and then passed a bill Wednesday meant to provide some extra funding to teachers for programs and supplies.
Senate Bill 187 would renew a law that expired in 2012 that allowed school corporations to donate up to $25,000 per year from its public funds to a school endowment or nonprofit charitable community foundation – if the money is matched dollar for dollar by a private donor.
The bill is now headed to the Senate Appropriations Committee for further consideration.
The goal is to provide extra money for schools to give their teachers grants. The committee amended the bill to tighten the way the money is used, earmarking it more for teachers and students.
Between FY 2009 and FY 2012, six school corporations made contributions to public school endowments or community foundations totaling from about $1,300 to $10,800 statewide.