The bill establishes a comprehensive transition and postsecondary program scholarship program 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 in Iowa. 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. Each eligible individual can receive up to $5,000 per academic year, and they must reapply annually to maintain their eligibility.

Additionally, the bill mandates the establishment of evaluation criteria for scholarship applications, prioritizing Iowa residents. It also creates a dedicated scholarship program fund within the state treasury, which will be managed by the college student aid commission. Funds appropriated for this program will not revert to the general fund at the end of the fiscal year, ensuring ongoing availability for future expenditures related to the scholarship program.