The proposed bill introduces a new chapter in the North Dakota Century Code to establish an education savings account program specifically for students not enrolled in public schools or homeschool programs. It defines essential terms such as "administrator," "eligible student," and "participating school," and outlines the responsibilities of parents who enroll their children. Parents are required to sign an agreement with the Department of Public Instruction, committing to provide education in core subjects and to utilize the funds exclusively for qualified educational expenses, which include tuition, textbooks, private tutoring, and technology. The bill also prohibits any refunds or rebates from participating schools or service providers.

The Bank of North Dakota is designated as the program administrator, tasked with managing the education savings accounts and ensuring compliance with accountability standards. The funding structure is based on household income levels, with varying percentages of state per-pupil payments deposited into the accounts. The bill mandates that participating schools provide necessary data to the department and conduct an annual parental satisfaction survey to gather feedback on the program's effectiveness. Additionally, it outlines the responsibilities of the school district of residence regarding student records and transportation. To support the implementation of this program, the bill appropriates $21,700,000 from the state general fund, with the program set to commence in the 2026-27 school year and provisions taking effect on July 1, 2026.