This bill amends existing Iowa law to establish new reporting requirements for accredited nonpublic schools and the Department of Education regarding education savings account funds. It introduces a new subsection to Section 256.9, which mandates the Department of Education to compile information from accredited nonpublic schools and submit an annual report to the General Assembly by September 1. This report must include the total amount of education savings account funds distributed, the funds received by accredited nonpublic schools, expenditure details, and information on approved applicants who declined participation or withdrew from the program.

Additionally, the bill adds new subsections to Section 257.11B, requiring accredited nonpublic schools that accept education savings account funds to report the total amount received and provide a detailed list of expenditures. Schools must also prepare and publish an annual budget that identifies the amount of education savings account funds received and their intended purposes. Furthermore, parents or guardians who are approved for the program but choose not to use the account, or who withdraw their child from the school, must report their reasons to the Department of Education.

Statutes affected:
Introduced: 256.9, 257.11B