This bill aims to expand the eligibility for education freedom accounts (EFAs) by eliminating the household income threshold that previously restricted access. Specifically, it amends the definition of "eligible student" in RSA 194-F:1, VI, by removing the requirement that a student's annual household income must be less than or equal to 350 percent of the federal poverty guidelines at the time of application. The bill stipulates that no income threshold needs to be met in subsequent years, provided the student otherwise qualifies. Additionally, it clarifies that students in the special school district within the department of corrections are not eligible for these accounts.

The fiscal impact of this bill is indeterminable, as it is expected to increase the number of students accessing the EFA program, which currently serves 5,321 students at an annualized cost of approximately $27.7 million. The average grant per student is projected to be around $4,419 for newly eligible students, which is lower than the current average due to the absence of free or reduced-price meal eligibility. The bill could lead to various financial outcomes depending on whether students transition from charter schools or traditional district schools, with potential cost savings or costs to the state depending on the specific circumstances of each student. Overall, the bill is designed to broaden access to educational funding for families regardless of income, while also considering the financial implications for the state and local school districts.

Statutes affected:
Introduced: 194-F:1