Education standards. Adds a definition of "college and career readiness". Provides that before July 1, 2014, the state board of education (state board) shall adopt Indiana college and career readiness educational standards. Provides that during the 2015-2016 school year, the state board shall authorize the department to administer either the ISTEP assessment or a comparable assessment program that is aligned with the educational standards. Provides that before the state board may authorize a new assessment program, the state board shall submit the proposed assessment program to the budget committee for review. Makes technical and conforming amendments.