The bill enacts a new section, 3317.251, of the Revised Code to establish a program for awarding disadvantaged pupil impact aid to chartered nonpublic schools participating in state scholarship programs. The Department of Education and Workforce will administer this program, allowing eligible schools to apply for funding based on the number of economically disadvantaged scholarship students they enroll. The aid amount is calculated by multiplying $422 by the economically disadvantaged index of the student's resident district for each eligible student. Schools must use the funds for specific initiatives, including reading improvement, professional development for teachers, mental and physical health services, and school safety measures.

Additionally, the bill mandates that participating schools report on their use of the funds, detailing the initiatives funded and the amounts spent. The Department of Education and Workforce is required to compile these reports and submit them to the General Assembly every odd-numbered year. The bill appropriates $40 million for this purpose from the General Revenue Fund for fiscal years 2025 and 2026, ensuring that the funding is available to support the disadvantaged pupil impact aid program as outlined in the new section.