In 2014, Pence stopped the Indiana Department of Education from applying for an $80 million grant that would have established a similar system.
Argos Community School officials say they plan to present a ballot referendum in a May 2017 special election.
Gary Community Schools continue to struggle financially to pay teachers and keep buildings open.
Last year, Indiana lawmakers rewrote the rules for how they give money to their public schools.
Surplus office supplies from Indy businesses are finding a new home in cash-strapped classrooms.
Those proposed changes included a major alteration to the school funding formula.
This week education dominated much of the time at the legislature as a series of controversial issues were discussed.
Some are questioning the academic progress of charter schools after Ball State University said it would close two Indianapolis charters.
Both budget proposals increase school funding by three-percent over the next two years, and accelerate the planned phaseout of the inheritance tax.
Following defeat of a school funding referendum in November of 2009 election cycle, Batesville school officials are taking a new fundraising tack.