Assessed value. Limits the annual increase in assessed value of real property to 5% unless ownership of the real property changes during the year or the increase results from physical changes to the real property.

Indiana education scholarship account program. Amends the: (1) definition of "eligible student" for purposes of eligibility under the Indiana education scholarship account program; and (2) grant amount that an eligible student may receive under the program.

Excused absence from school. Provides that the governing body of a school corporation or the chief administrative officer of a nonpublic school system shall authorize the absence and excuse of a school student if the student participates in certain events offered by the National FFA Organization, the Indiana FFA Association, or a 4-H club. Provides that a student's excused absences may not exceed six days in a school year. Provides that the student must be in good academic standing.

Fiscal and administrative matters. Specifies that certain workforce related programs must be reviewed by the legislative services agency at least once rather than every five years. Requires the budget agency to biennially prepare a list of dedicated funds that have not been used in the previous two state fiscal years. Makes technical corrections to various statutes concerning rulemaking. Requires agencies to submit a copy of the notice of the first public comment period and regulatory analysis to the small business ombudsman. Provides that the legislative notice required for rule readoptions must be submitted not later than January 1 of the year preceding the year in which the rule expires. Provides that the publisher of the Indiana Register shall assign a document control number when an agency submits the legislative notice during rule readoption instead of when the agency submits the notice of proposed readoption. Provides that an agency may adopt interim rules to implement a reduction, a full or partial waiver, or an elimination of a fee, fine, or civil penalty included in an administrative rule. Requires the budget agency to transfer money in the phase out trust fund on or before June 30, 2024, to the Medicaid contingency and reserve account. Expires the phase out trust fund on July 1, 2024, and makes corresponding changes. Specifies certain deadlines within the statutes governing an agency's failure to enact required licensure rules. Requires an agency to conduct a regulatory analysis for certain proposed rules, including if the implementation and compliance costs are at least $1,000,000. Provides that if a proposed rule has implementation and compliance costs of at least $1,000,000, the following: (1) The rule cannot be published in the Indiana Register until the budget committee has reviewed the rule. (2) The budget agency and the office of management and budget may not approve any part of the proposed rule prior to review of the proposed rule by the budget committee. Provides that for a provisional rule or an interim rule that has implementation and compliance costs of at least $1,000,000, the governor may not approve a rule prior to the budget committee's review of the rule. Requires the office of management and budget to notify the legislative council of certain proposed rules that have a fiscal impact of over $1,000,000 over the course of two years. Removes references concerning the adoption of an emergency rule. Amends a reference from emergency rules to provisional or interim rules under certain circumstances. Makes conforming changes.

Education accounts. Expires the Indiana choice scholarship program and Indiana education scholarship account program on June 30, 2025. Beginning July 1, 2025, establishes the Indiana funding students first grant program (program) as a pilot program through June 30, 2027. Provides that the treasurer of state shall administer the program. Allows the parents of eligible students who are homeschooled or who attend a public school or a nonpublic school to apply to the treasurer of state to establish an account for purposes of the program. Defines "eligible student". Specifies the annual grant amount to the eligible student's account. Provides that the parent of an eligible student may use money in a program account for any qualified expense. Defines "qualified expense" for purposes of the program. Requires all students who participate in the program to take the statewide assessment. Makes conforming changes and technical corrections.

Various health care matters. Requires the budget committee to review certain contracts with managed care organizations for the Medicaid program. Allows a managed care organization and a Medicaid provider to enter into a value based health care reimbursement agreement. Prohibits a managed care organization from imposing on a provider a reimbursement rate or payment methodology through a notice of contract change, a policy, or a provider manual change. Allows for case rate reimbursement for emergency services. Requires a managed care organization to contract with any willing provider if the provider: (1) meets licensure and certification requirements and enrollment criteria; and (2) agrees accept the terms and conditions of the managed care organization to provide services under the risk based managed care program; for Medicaid recipients who are eligible to participate in the Medicare program and receive nursing facility services or home and community based services (program). Requires the office of the secretary of family and social services to establish minimum reimbursement rates for covered services under the program. Requires a health plan to make current prior authorization requirements and restrictions accessible on the health plan's website. Prohibits the implementation of a new or amended prior authorization requirement or restriction unless certain conditions are met. Requires a health plan to release statistics concerning prior authorization and submit a report concerning the statistics to the department of insurance. Provides that a contracting entity may not grant a third party access to the provider network contract or to dental services or contractual discounts provided under the provider network contract unless certain conditions are satisfied. Provides that any provider that is a party to the network contract must be allowed to choose not to participate in the third party access. Prohibits a contracting entity from: (1) altering the rights or status under a provider network contract of a dental provider that chooses not to participate in third party access; or (2) rejecting a provider as a party to a provider network contract because the provider chose not to participate in third party access. Authorizes enforcement by the insurance commissioner. Provides that if a covered individual assigns the covered individual's rights to benefits for dental services to the provider of the dental services, the dental carrier shall pay the benefits assigned by the covered individual to the provider of the dental services. Prohibits the provider from billing the covered individual if the provider is in the dental carrier's network.

Housing development. Makes various changes to the residential housing infrastructure assistance program. Expands the definition of "economic development facilities" applicable to the economic development and pollution control statutes to include facilities for housing for purposes of redevelopment commission programs outside Indianapolis for age-restricted housing or residential housing development. Makes a technical correction.

Veterans' benefits and services poster. Requires that the Indiana department of labor consult with the Indiana department of veterans' affairs to create and distribute a veterans' benefits and services poster. Provides that the veterans' benefits and services poster must contain certain information. Requires that Indiana employers with more than 50 full-time employees (or their equivalent) display the veterans' benefits and services poster in a conspicuous place.

Use of digital assets. Provides an income tax deduction for short term or long term capital gain that is attributable to the sale or exchange of digital assets in a transaction and that is included in federal adjusted gross income, in an amount not to exceed $200 per transaction for the 2024 taxable year, and adjusted annually for inflation each taxable year thereafter. Provides that a county or municipality may not: (1) impose a tax that is assessed based on use of a digital asset as payment in a transaction; or (2) impose a tax on transactions at a different rate based on the use of a digital asset for payment in the transaction. Prohibits the Indiana utility regulatory commission (commission) from approving a rate schedule for electricity supplied by an electricity supplier to digital asset mining businesses that is unreasonable or unjustly discriminatory as compared to the rate schedule approved by the commission for electricity supplied by the electricity supplier to industrial customers. Provides that a person is not required to be licensed as a securities broker-dealer solely because the person provides, or offers to provide, specified services with respect to transactions involving digital assets. Provides that specified operations conducted with respect to maintenance of a blockchain do not constitute money transmission for purposes of statutes regarding licensure of money transmitters. Provides immunity from civil liability for a person that performs specified actions with respect to validation of a transaction on a blockchain network. Prohibits a county, municipality, or township from adopting or enforcing an ordinance that would have the effect of prohibiting, restricting, or impairing an individual's ability to: (1) use digital assets to purchase legal goods and services; or (2) use a hardware wallet or self-hosted wallet to store the individual's digital assets. Provides that use of a property for digital asset mining is a permitted industrial use under any applicable zoning ordinance of a unit and may not be disallowed by a zoning ordinance in a zoning district that permits industrial use. Prohibits a unit from applying the unit's zoning ordinances in specified ways to regulate digital asset mining. Makes conforming amendments and technical corrections.

Government boards, councils, and commissions. Repeals, merges, consolidates, or otherwise modifies various boards, commissions, committees, councils, authorities, and funds. Removes certain appointed members from various boards, commissions, and districts. Modifies the appointing authority for particular funds, boards, and councils.

Children in need of services. Provides that if a child has been removed from the child's parent for at least 12 of the most recent 22 months at the time of a periodic case review, the child's permanency plan must include at least one intended permanent or long term arrangement for care and custody of the child other than reunification of the child with the child's parent, guardian, or custodian. Provides that concurrent planning must be implemented if the child has been removed from the child's parent for at least 12 of the most recent 22 months at the time of a permanency hearing. Provides that the department may not: (1) take adverse action against a foster parent's license; or (2) remove a child from the home of a foster parent, relative of the child, or de facto custodian; on the basis of the foster parent, relative, or de facto custodian filing a notice with the court that a petition is required to be filed, but has not been filed, to terminate the parent-child relationship with regard to the child.

Child care. Requires the Indiana economic development corporation to annually report to the general assembly regarding funds dedicated to supporting child care under specified state and federal programs. Defines an "out-of-school-time program". Requires the office of the secretary of family and social services (FSSA) to publish on the FSSA website a dashboard providing monthly information regarding state and federal child care subsidies available to Indiana residents. Provides that a household is eligible to begin receiving assistance under the federal Child Care and Development Fund (CCDF) voucher program if the household, at the time of FSSA's initial determination of the household's income eligibility: (1) has a household income that does not exceed 85% of Indiana's state median income for the household's family size; (2) includes an individual who is employed by a licensed child care center, a licensed child care home, or a licensed or registered child care ministry; and (3) otherwise meets federal eligibility requirements for the CCDF program. Provides, with respect to the individual with certification in cardiopulmonary resuscitation (CPR) required to be present at all times when a child is in the care of a child care provider that is eligible to receive reimbursement through the CCDF program, that the individual is not required to be recertified in CPR annually. Provides that: (1) the early learning advisory committee must commission a third party evaluation to assess existing regulations for child care providers not later than May 1, 2024 (rather than July 1, 2024, under current law); and (2) FSSA must initiate the process of amending FSSA's rules in consideration of the findings of the third party evaluation not later than July 1, 2024. Requires, not later than September 30, 2024, the early learning advisory committee to: (1) complete a study regarding compensation in Indiana for early childhood educators and caregivers at out-of-school-time programs; (2) create an online dashboard to allow access to compensation data; and (3) issue a report containing the committee's findings and recommendations. Amends provisions regarding the On My Way Pre-K voucher program (program) to: (1) provide eligibility for children of child care employees; and (2) amend references to funds provided to children under the program as prekindergarten vouchers, rather than grants. Requires FSSA to establish a micro facility pilot program, under which FSSA shall: (1) develop a regulatory model that: (A) is applicable only to certain licensed or registered child care providers that provide child care for not less than three children and not more than 30 children for at least four hours per day (micro facilities); and (B) incorporates waivers or variances from FSSA's rules applicable to certain child care providers; (2) apply the regulatory model to at least three micro facilities and evaluate the operation of the micro facilities under the regulatory model; and (3) not later than October 1, 2026: (A) make a determination as to whether FSSA will adopt rules specific to micro facilities that incorporate some or all aspects of the regulatory model; and (B) submit to the general assembly a report regarding the pilot program. Requires FSSA to do the following: (1) Amend FSSA's rules to define a "substitute educator" caregiver type for purposes of FSSA's rules pertaining to all categories of child care providers regulated by FSSA. (2) Amend FSSA's rules to allow an employee of a child care provider who: (A) is 16 or 17 years of age; (B) is assigned to a lead caregiver who supervises the employee at all times during which the employee is supervising a child; (C) is never left alone with a child; and (D) meets specified qualifications; to be counted in child/staff ratios for school age child care rooms. (3) Amend FSSA's rules to allow an employee of a child care provider who: (A) is at least 18 years of age; and (B) meets specified qualifications; to serve as the staff person in charge of an infant/toddler room. (4) Issue a report to the general assembly not later than October 31, 2024, documenting the results attributable to: (A) the employer sponsored child care fund; and (B) the employer child care expenditure credit. (5) Study, in collaboration with other specified state agencies, opportunities for resource sharing across state agencies and local units of government to facilitate the fingerprinting of individuals for purposes of conducting national criminal history background checks and issue a report to the governor and the general assembly regarding the results of the study. Makes technical corrections.

Driving privilege cards. Provides that an individual who is an Indiana resident and cannot provide proof of identity and lawful status in the United States may apply for a driving privilege card to obtain driving privileges. Sets forth the requirements to obtain a driving privilege card. Provides that a driving privilege card may not be used as identification for any state or federal purpose (other than to confer driving privileges), for the purpose of voting, or to verify employment. Requires an individual who holds a driving privilege card and operates a motor vehicle to verify and continuously maintain financial responsibility on any motor vehicle operated by the individual who holds the driving privilege card in the amount required by law. Provides that the bureau of motor vehicles may not disclose certain information unless presented with a lawful court order or judicial warrant. Requires an applicant for a driving privilege card or driving privilege card renewal to sign up for selective service. Requires the bureau of motor vehicles to submit an annual report to the legislative council and the interim study committee on roads and transportation. Makes conforming amendments. Makes technical corrections.

Economic development. Allows a city on the Ohio River that established a port authority to annex territory that is not contiguous to the city boundaries if a railroad owned by the port authority connects the city to the annexed territory. Prohibits a public official from being appointed to the executive board of a military base reuse authority after June 30, 2024, and sets certain minimum qualifications for members.

Legalization of cannabis. Legalizes the sale and use of cannabis by a person at least 18 years of age. Requires the Indiana department of health to establish a program to issue a medical cannabis identification card to a patient whose physician has recommended cannabis to treat a medical condition. Permits the sale of cannabis to a person less than 18 years of age if the person has been issued a medical cannabis identification card, and exempts purchases by a medical cannabis cardholder from sales tax. Makes conforming amendments.