The bill proposes the enactment of section 3317.251 of the Revised Code, which establishes 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 utilize the funds for specific initiatives, including reading improvement, professional development for teachers, mental and physical health services, and school safety measures.

Additionally, the bill includes provisions for reporting and accountability. Participating schools are required to submit data and annual reports detailing how the funds were spent, which will be compiled by the department and reported to the General Assembly every odd-numbered year. The bill appropriates $40 million for the fiscal years 2025 and 2026 from the General Revenue Fund to support this initiative, ensuring that the funds are specifically allocated for the disadvantaged pupil impact aid program as outlined in the new section.