This bill introduces new definitions and reporting requirements related to education freedom accounts (EFAs). It adds definitions for key terms such as "program administrator," "applicant," "vendor," and "reimbursements" to RSA 194-F:1. The bill also establishes a new section, RSA 194-F:13, which mandates that the program administrator submit detailed quarterly reports starting from September 30, 2026. These reports will include information on the number of applications submitted and approved, student withdrawals, total distributions by vendors, reimbursements processed, and demographic profiles of students, among other data.

Additionally, the bill requires that the program administrator provide any further information requested by relevant committees and ensure that all data is available for audits. The reports must be submitted electronically within 30 days after each quarter and will be made publicly accessible on the Department of Education's website. Failure to comply with these reporting requirements may result in oversight and corrective actions by the Department of Education. Overall, the bill aims to enhance transparency and accountability in the management of education freedom accounts.

Statutes affected:
Introduced: 194-F:1
SB576 text: 194-F:1