The bill establishes a comprehensive transition and postsecondary program scholarship program in Iowa, aimed at providing financial assistance to individuals with intellectual, developmental, or learning disabilities who are at least 18 years old and enrolled in approved programs. The college student aid commission, in collaboration with the division of vocational rehabilitation services, is tasked with developing and administering this scholarship program, contingent upon appropriations from the general assembly. The maximum scholarship amount is set at $5,000, and priority will be given to Iowa residents when evaluating applications.

Additionally, the bill creates a dedicated scholarship program fund within the state treasury, which will be managed by the college student aid commission. This fund will consist of appropriated moneys and any additional funds received for the program, ensuring that the resources remain available for future fiscal years. The commission is also required to establish evaluation criteria for scholarship applications and adopt necessary administrative rules to facilitate the program's implementation.