The bill SB 207-FN proposes a comprehensive restructuring of the Education Freedom Account (EFA) program by transferring oversight from scholarship organizations to the Department of Education. Key changes include redefining "Commissioner" as the head of the Department of Education and replacing "scholarship organization" with "department" throughout the law. The bill stipulates that the Commissioner will directly manage the transfer of funds to students' EFAs, with any unused funds rolling over year-to-year, subject to specific limits. Additionally, the maximum administrative cost that can be deducted from EFAs is reduced from 10% to 5% annually, aiming to streamline administration while enhancing oversight and accountability.

Furthermore, the bill establishes a Parent and Education Service Provider Advisory Commission to assist the department in improving the EFA program, composed of parents of EFA students and education service providers. It outlines the requirements for education service providers, including compliance with anti-discrimination laws and a prohibition on sharing EFA funds with parents or students. The bill also clarifies liability provisions by indicating that the Department of Education will not be held liable for the award or use of an EFA. The legislation is set to take effect on July 1, 2025, with a pending fiscal impact statement from the Office of Legislative Budget Assistant to assess its financial implications.

Statutes affected:
Introduced: 194-F:1, 194-F:2, 194-F:3, 194-F:4, 194-F:5, 194-F:6, 194-F:9