The bill amends section 3310.70 of the Revised Code to revise the Afterschool Child Enrichment (ACE) Educational Savings Account Program and includes an appropriation of $5,000,000 to fund the program. Key changes include redefining an "eligible student" to those enrolled in a school district, community school, or STEM school, and increasing the amount credited to accounts established for eligible students from $500 to $1,000 for fiscal years 2023 and 2024. The bill also establishes a process for parents or guardians to request account creation and outlines the responsibilities of a vendor selected to administer the program, including monitoring account usage and ensuring funds are used for authorized purposes.

Additionally, the bill introduces new provisions for the department to conduct annual audits of the program and allows schools to advertise the ACE program. It also specifies that funds deposited into the educational savings accounts cannot be used for purchasing electronic devices. The existing section 3310.70 is repealed, and the new provisions will take effect with the appropriated funds to support the program's operation.

Statutes affected:
As Introduced: 3310.70