DIGEST OF INTRODUCED BILL
LIFE scholarships. Establishes the Indiana lifelong learning incentive for excellence (LIFE) scholarship program to provide scholarships to Indiana residents for postsecondary education. Provides for administration of the program by the state student assistance commission. Sets forth the amount of a scholarship award, subject to appropriations of the general assembly. Provides eligibility criteria for potential recipients. Establishes the LIFE scholarship fund consisting of slot machine wagering taxes collected after June 30, 2012, and riverboat admissions taxes that would have otherwise been deposited into the state general fund as slot machine revenue to replace the admissions tax subsidy for horse racing. Makes an appropriation.