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 homeschooling. It defines key terms such as "administrator," "eligible student," and "participating school," and outlines parental responsibilities for enrollment, which include providing education in core subjects, not enrolling in public school, and using funds exclusively for qualified educational expenses like tuition and textbooks. The Bank of North Dakota is designated as the program administrator, tasked with managing accounts and ensuring compliance, while also mandating annual deposits of state funds based on household income levels.

Additionally, the bill requires participating schools to provide data to the department and conduct an annual parental satisfaction survey to assess the program's effectiveness. It also outlines the responsibilities of the school district of residence, including 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 commence in the 2026-27 school year and provisions taking effect on July 1, 2026.