Sec. 8.5. (a) Subject to subsection (b), if an applicant meets the requirements under section 5.5 of this chapter, the commission may award a one (1) time nonrenewable scholarship to the applicant in an amount of up to ten thousand dollars ($10,000) for transition to teaching program and initial practitioner licensure costs under IC 20-28-4 . (b) The total annual amount of scholarships awarded by the commission under this section may not exceed one million dollars ($1,000,000). (c) Notwithstanding subsection (b), any balance in the next generation Hoosier educators scholarship fund established by section 3 of this chapter remaining after the commission has awarded next generation Hoosier educators scholarships for a fiscal year may be used to fund additional transition to teaching scholarships as described in section 5.5 of this chapter. The commission shall give priority for scholarships awarded under this subsection to an applicant who is a member of a household with an annual income of one hundred thousand dollars ($100,000) or less in accordance with section 5.5(c)(5) of this chapter. However, if there is a remaining balance in the next generation Hoosier educators scholarship fund established by section 3 of this chapter after awarding scholarships to individuals who meet the income requirement described in section 5.5(c)(5) of this chapter, the commission may award transition to teaching scholarships to applicants who are members of a household with an annual income that exceeds one hundred thousand dollars ($100,000).
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