The latest proposal from Statehouse leaders to get more Hoosier kids reading could cost Indiana more than $100 million.

Driving the news: House Speaker Todd Huston, R-Fishers, said last week that House Republicans are considering legislation for the upcoming session that would hold back third graders who can't read on grade level.

Why it matters: Third grade is considered the point at which kids transition from learning how to read, to needing to be a proficient reader in order to learn more advanced skills.

State of play: One in five Hoosier third graders aren't reading on grade level.

Context: Lawmakers have been trying to solve the state's reading problem for more than a decade.

• In 2010, they passed legislation that created the IREAD-3 exam, which tests whether students are proficient in reading at the end of third grade. Last year, more than 14,000 kids didn't pass the IREAD-3.
• Those who don't pass are supposed to be held back to repeat third grade, save for a few narrow exceptions.

Yes, but: Lawmakers say those exceptions have widened over the years and too many students are being passed to fourth grade.

The latest: Huston said lawmakers would look at legislation to end that practice.

• He said the goal is not to retain students but to get them proficient and called on schools to focus on fundamental reading skills.

Between the lines: While promoting students who can't read can set them up for failure and frustration, studies also show that students who repeat a grade are at a higher risk of dropping out later.

By the numbers: On average, the state will spend about $8,200 per student next year.

• If all the students who don't pass the IREAD-3 are retained and spend an extra year in the public school system, it could cost the state nearly $120 million.

What they're saying: "We'll figure out the budget thing," Huston said. "But we are doing those kids a total disservice."

• "If it's going to cost us more money, we should pay more money."

Go deeper

Renting is not just for the young.

Driving the news: Older Americans are increasingly turning to rentals, fueling construction of new senior living complexes with amenities that would look familiar to 20-something apartment dwellers, Axios' Sami Sparber reports.

What's happening: The growth in older renters is leading to a steady drumbeat of new senior living announcements.

• Developer Leo Brown Group is seeking approval to build a $65 million, 200-unit project south of the Grand Park Sports Campus in Westfield.
• Carmel-based Hageman Group recently broke ground on a $39 million luxury senior living project in Noblesville.

By the numbers: There were nearly 78,000 Indianapolis-area renter households with people 55 and older last year, up from fewer than 40,000 in 2005, per U.S. Census estimates.

• 28% of renter-occupied households are 55 and older.

Between the lines: Apartment developers are courting empty-nesters as young as 55, dangling prime locations, easy living and amenities you'd expect at a five-star hotel, senior living expert James Hill with Texas-based Kirksey Architecture tells Axios.

Reality check: As senior living communities go big on amenities, they're scaling back on services.

• Indianapolis-area seniors who have moved into complexes offering food and transportation services are seeing those perks scrapped in budget cuts, the IBJ reported.

What we're watching: Single-family rental homes.

• The hot suburban segment appeals to some older adults who want property management perks, but without neighbors on the other side of the wall.

🏈 IU has hired Curt Cignetti to take over its football program.

• Cignetti has a 52-9 record as head coach at James Madison, including 19-4 during the team's first two seasons in the Football Bowl Subdivision and 11-1 this year. (IndyStar)

💍 Welcome to Indiana, Theresa Nist! She got engaged to Hoosier Gerry Turner on the finale of "The Golden Bachelor" last night. (People)

🏫 One-third of Indianapolis' charter schools have closed since 2001, raising questions about oversight. (Chalkbeat Indiana)

🥂 Ash & Elm Cider Co. is planning to open a restaurant and tasting room on the north side of Carmel. Ash & Elm, with a main location on East Washington Street near downtown Indianapolis, is the state's largest cider producer. (IBJ)

💓 Indianapolis loves Taylor Swift as much as the rest of the U.S.

🎧 Driving the news: Swift was the most-streamed artist in Indianapolis this year, per Spotify Wrapped, followed by Morgan Wallen, Drake, 21 Savage and Zach Bryan.

🎵 Meanwhile, here are Indy listeners' most-streamed songs:

• "Last Night" by Wallen
• "Kill Bill" by SZA
• "You Proof" by Wallen
• "Something in the Orange" by Bryan
• "Cruel Summer" by Swift

📈 Zoom out: Swift tops almost every market's Spotify Wrapped, with exceptions including Los Angeles (where Drake is No. 1) and Miami (Bad Bunny).

The best host city in sports is at it again, this time welcoming back the Big Ten Football Championship Game between Iowa and Michigan.

🎶 The festivities start tonight with a kickoff concert from 4-9pm on Monument Circle.

• Chicago-based cover band Rod Tuffcurls and the Bench Press will play at 7pm.
• Tickets are "donate what you can" to benefit Gleaners Food Bank.

🎉 Meanwhile, Fan Fest is open from 5-9pm in the Indiana Convention Center.

• There will be interactive games, performances from team bands, mascot appearances and more.
• It opens again at 10am Saturday.
• Admission is included with game tickets or Fan Fest-only tickets can be purchased on-site for $12 for adults/$6 for kids.

🍻 Plus: The Big Ten Tailgate on South Street is free to the public from 10am to 8pm Saturday.

🏈 The game kicks off at 8pm Saturday at Lucas Oil Stadium.

Not a Hawkeyes or Wolverines fan? (And who can blame you?) Here are the rest of our picks for the weekend.