This bill amends the application periods and payment structure for the education savings account program in Iowa, which provides financial assistance to pupils attending nonpublic schools for qualified educational expenses. It allows parents or guardians to submit applications for education savings account payments on or after December 1 and before December 20 for the upcoming semester, in addition to the existing timeline of January 1 to June 30 for the following school year. If an application is submitted during the new December window, the education savings account payment will be set at 50 percent of the regular program state cost per pupil for that school budget year.

Furthermore, the bill stipulates that the department of education or a third-party entity must establish an individual account for each pupil approved for an education savings account payment. Payments will be deposited into these accounts within specified timeframes depending on when the application was submitted. If the payment is used for tuition owed to a nonpublic school, the department or third-party entity is required to remit the payment to the school within 30 days. The bill includes various conforming changes to ensure clarity and consistency in the application and payment processes.

Statutes affected:
Introduced: 257.11B