Indiana school districts would be required to share future referendum funding with charter schools under a bill approved by a House committee Thursday.

Indianapolis Public Schools approved a plan to share an estimated $27.5 million of referendum funds with its network of independent charter schools over the next few years.

Budget and legal concerns may stand in the way of Indianapolis Public Schools leaders' proposal to share referendum funds with district charter schools that receive thousands of dollars less in revenue compared to other IPS schools.

Leaders of Indianapolis Public Schools are considering a proposal to share roughly $5 million per year of its property-tax referendum funds with the independently managed schools in the district.

The two school corporations with referendums on the ballot were hopeful this year's election would look similar to 2014, when both won voter approval for their tax proposals.

A formal partnership between Indianapolis Public Schools and the Indy Chamber intended to cut $328 million in operations has ended after three years.

It's the first time only one school corporation in Indiana has sought referendum approval during spring elections in the past decade.

Three of the four school referendums on the ballot in Indiana this election passed, according to results available Wednesday.

Only four school corporations in Indiana are seeking voter-approval on funding referendums in this fall's election.

Despite worries about COVID-19's impact on the economy, voters appear to be supporting funding proposals from school corporations across Indiana.