The proposed bill introduces a new chapter in Title 15.1 of the North Dakota Century Code to establish an education savings account program for students not enrolled in public schools or homeschool programs. It defines key terms such as "eligible student," "education service provider," and "program manager," and outlines the responsibilities of parents, which include signing an agreement to provide education in core subjects and using funds exclusively for qualified educational expenses like tuition, textbooks, and private tutoring. The Bank of North Dakota is designated as the program administrator, responsible for managing the accounts, conducting audits, and ensuring compliance with accountability standards. The bill also allows for the carryover of unspent funds and emphasizes the autonomy of participating nonpublic schools.

Additionally, the bill sets forth new procedures for the program, including requirements for participating schools to provide data to the department and the administration of an annual parental satisfaction survey to assess the program's effectiveness. It also details the responsibilities of the school district of residence, such as providing school records for eligible students and potentially offering transportation to participating schools. To support the implementation of this program, the bill appropriates $21,700,000 from the state general fund to the Bank of North Dakota, with the program set to begin in the 2026-27 school year and provisions effective from July 1, 2026.