(a) A public school district or an open-enrollment public charter school may adopt a policy to allow a student who attends a private school or a home school to enroll in an academic course at a public school or an open-enrollment public charter school if the student resides in the public school district where the public school or open-enrollment public charter school is located.

(b) A policy adopted by a public school district or open-enrollment public charter school under subsection (a) of this section may:

(1) Set admissions criteria determined by the public school district or open-enrollment public charter school;

(2) Allow a student who attends a private school or a home school to enroll in one (1) or more academic courses in a semester; and

(3) Limit enrollment:

(A) To certain academic courses or grade levels; or

(B) Based on other criteria determined by the public school district or open-enrollment public charter school.

(c)

(1) A public school district or an open-enrollment public charter school that enrolls a student who attends a private school or a home school in an academic course is entitled to an amount equal to one-sixth (1/6) of the state foundation funding amount for each academic course in which a student who attends a private school or a home school is enrolled.

(2) A public school district or an open-enrollment public charter school is not entitled to more than the equivalent of the state foundation funding amount for one (1) average daily membership per student regardless of the number of academic courses in which the student who attends a private school or a home school is enrolled.

(d) This section does not require a public school district or an open-enrollment public charter school to allow a student who attends a private school or a home school to enroll in an academic course at a public school or an open-enrollment public charter school.