This bill amends the administration and oversight of the education freedom account (EFA) program by changing income eligibility and reporting requirements. Specifically, it defines an "eligible student" as a resident who can enroll in a public school and whose annual household income must match the state-mandated income threshold and be less than or equal to 350 percent of the federal poverty guidelines at the time of application and for each subsequent school year. The bill also clarifies that students in the special school district within the department of corrections are not eligible for the program. Additionally, it modifies the provisions regarding the rollover of unused EFA funds, allowing them to roll over until the student becomes ineligible or graduates, rather than from year-to-year.

Furthermore, the bill introduces a new requirement for the Department of Education to report annually on the number of students participating in the EFA program in towns with populations over 500. It mandates that the legislative budget assistant audit division conduct randomized annual income verification audits for 33 percent of participating families. The bill also specifies that any unused funds will revert to the education trust fund rather than being allocated to fund other EFAs. The effective date for these changes is set for July 1, 2025.

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