Initial specifications are scheduled for distribution this fall (2013), with the program beginning to pilot in June 2014. The pilot phase is expected to take 1 to 2 months, allowing additional lenders to enroll in the fall of 2014.
The BMV is working to make the new Indiana ELT program compatible with all title and registration processes, including the existing Electronic Vehicle Registration system. They are also working to consolidate lienholder records to make the transition to electronic liens simpler for lenders.
There are no plans at this time to make the program mandatory. The BMV is not opposed to requiring participation, but will wait for enacted legislation to do so.
Image above is a 1985 Indiana license plate "Wander" for sale by Deer Run Mercantile: "Vintage License Plates from the 50 States".