This bill establishes an Education Empowerment Account program in Minnesota, aimed at providing financial support for eligible students' educational expenses. The program defines key terms such as "eligible education expenses," which include tuition, textbooks, registration fees for standardized tests, educational therapies, transportation services, and necessary technology. Each eligible student can have an individual education empowerment account created upon request, with funds appropriated from the general fund based on the statewide average general education revenue per pupil. The bill also stipulates that any remaining funds in a student's account after graduation can be used for postsecondary education expenses, and if a student re-enrolls in a public school, their account will be closed, and remaining funds returned to the state.

Additionally, the bill mandates the creation of a special revenue fund for the education empowerment accounts, where available federal funds and state appropriations will be deposited. The Department of Education is tasked with developing the program, including creating application forms and notifying eligible students annually. The bill also includes provisions for reporting on the necessary state aid to fully fund the program for future school years. The effective date for the program is set for the 2026-2027 school year and later, ensuring that the framework is in place for its implementation.