This bill establishes an annual review and qualification process to determine eligibility for participation in the education freedom accounts program. It requires that the annual household income of eligible students be less than or equal to 350 percent of the federal poverty guidelines. The bill also specifies that the eligibility determination must be made for each school year during the student's participation in the program. Additionally, the bill clarifies that unused funds in an education freedom account will roll over from quarter-to-quarter until the parent withdraws the student from the program, the student becomes ineligible, or the student graduates from high school. Any unused funds will revert to the education trust fund.

The fiscal impact of this bill is indeterminable. The Department of Education states that the bill could result in a decrease in participation in the education freedom accounts program. The impact on local expenditures is unknown but could potentially result in an increase.

Statutes affected:
Introduced: 194-F:1, 194-F:2