This bill amends the application periods and payment structure for the education savings account program in Iowa. It allows parents or guardians of eligible pupils to submit applications for education savings account payments on or after December 1 and before December 20, preceding the semester for which the payment is requested. This is a change from the previous requirement, which mandated applications to be submitted between January 1 and June 30 for the upcoming school year. Additionally, the bill stipulates that if an application is submitted during the new December timeframe, the education savings account payment will be set at 50 percent of the regular program state cost per pupil for that school budget year, rather than the full amount.

The bill also includes provisions for the establishment of individual accounts for each pupil approved for an education savings account payment. It specifies that if an application is submitted in December, the payment will be deposited into the pupil's account within thirty days of submission, making the funds immediately available for qualified educational expenses. These changes aim to provide more flexibility for families seeking financial assistance for educational costs while ensuring that the funding structure is clearly defined based on the timing of the application.

Statutes affected:
Introduced: 257.11B