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Education finance and taxation. Imposes a graduated adjusted gross income tax, with a maximum rate of 4.4%. Provides that for purposes of computing the average daily membership and other pupil counts of school corporations, kindergarten pupils attending a full-day kindergarten program are counted as one pupil. Provides that an amount equal to the property taxes that would otherwise result from the recalculation of average daily membership shall instead be paid as additional tuition support. Authorizes the state student assistance commission to provide grants and loans to persons who: (1) are employed in certain positions by a school corporation or an accredited nonpublic school; and (2) are enrolled in or admitted to an Indiana institution of higher education as students pursuing a master's degree. Provides that a grant or loan must be applied to the person's costs for tuition and regularly assessed fees. Provides that the maximum amount of a grant is $5,000 and the maximum amount of a loan is $5,000. Provides that the total of all grants and loans in a state fiscal year may not exceed $20,000,000. Provides a refundable income tax credit for repayment of loan amounts. Provides that the credit may not exceed $1,000 each year. Requires the department of education to establish a pilot program to provide grants to school corporations that implement
