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 the definition of "Commissioner" as the head of the Department of Education and the replacement of "scholarship organization" with "department" throughout the legislation. The bill stipulates that the Commissioner will directly manage the transfer of funds to students' EFAs, allowing for a more streamlined process. It also clarifies that any unused funds in an EFA will roll over annually, with limits on carryover amounts, and excess funds will revert to the education trust fund.

Additionally, the bill establishes application procedures for parents to apply for an EFA through the Department of Education, which will now be responsible for approving applications and ensuring compliance with program requirements. It mandates the creation of a Parent and Education Service Provider Advisory Commission to provide recommendations and assist in improving the EFA program. The bill also shifts liability from scholarship organizations to the Department of Education and the state regarding the award and use of EFAs, ensuring that the department is not held liable for actions related to these accounts. The effective date for these changes is set for July 1, 2025, while the fiscal impact remains undetermined pending further information from the Department of Education.

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