Breakdown of Indiana's new budget

 Indiana Governor Mike Pence signed the new two year, $31.3 billion budget into law Thursday.

Although, the budget covers a variety of issues in the Hoosier state, the legislative session focused primarily on education, specifically funding for K-12 schools.

The new budget will allow $460 million more for public and private school vouchers, and another $20 million for charter schools.

The governor believes that the budget will seek to close the gap between higher-funded schools in urban areas that are losing students and lower-funded ones in suburban areas that are gaining students.

Aside from education, the budget allocates $80 million for local community correction programs over the next two years. This will go towards county-level probation and treatment programs to help keep low-level offenders out of prison.

Additionally the Department of Transportation will get an added $100 million for special road projects. The State Budget Committee will approve more funding if necessary.

After the money is divided, this will leave about $1.8 billion in the bank, which is just under the $2 billion the governor wanted.

The budget will go into effect July 1st.