This bill proposes changes to the qualifications for student eligibility in the education freedom accounts (EFA) program. It redefines "eligible student" to include a broader range of conditions. New conditions for eligibility include students whose household income is less than or equal to 350 percent of the federal poverty guidelines, students concerned about the spread of contagious diseases, persistently bullied students, LGBTQ+ students, those performing in the bottom 25th percentile in state standardized testing, students diagnosed with an eating disorder or mental health illness by a licensed healthcare provider, students living in areas with PFAS water contamination, and students in the lowest 10th percentile of standardized testing within their school's geographic boundaries. Additionally, students may qualify if their district guidance counselor determines it is in their best interest. The bill also removes the requirement for students to meet an income threshold in subsequent years once they qualify for the program.

The fiscal note attached to the bill indicates that the state impact on expenditures is indeterminable, while the revenue remains unaffected. The bill could lead to an indeterminable number of new students accessing the EFA program, with varying financial implications depending on whether students are leaving public district schools, charter schools, or non-public/home education systems. The Department of Education notes that the bill could result in net cost savings or additional costs to the state, depending on the original funding source for the student's education. The bill may also pressure local school districts to adjust their expenditures in response to changes in student populations, potentially leading to an indeterminable decrease in local expenditures. The act is set to take effect 60 days after its passage.