The bill introduces CHAPTER 117, titled "Education Freedom Account Program," to Title 16 of the General Laws. This act establishes a program that allows qualified students to utilize state education funds for alternative learning experiences. Parents may direct their child's state education funding into an education freedom account (EFA) administered by the Children's Scholarship Fund of Rhode Island (CSF) to pay for qualifying educational expenses, including tuition and fees at private schools, tutoring, textbooks, computers, and other educational materials.

The bill outlines the purpose of the program, which is to provide parents with the ability to choose educational options outside of public schools. It defines key terms, including "eligible student," which refers to a resident who can enroll in a public elementary or secondary school and meets specific income criteria. The act specifies the qualifying expenses for which EFA funds may be used and establishes that funds cannot be refunded or shared with parents or students.

The application process for establishing an EFA is detailed, including the requirements for parents and the CSF's responsibilities in approving applications. The CSF is tasked with maintaining a list of education service providers, providing parents with information about allowable uses of EFA funds, and ensuring compliance with federal and state laws regarding students with disabilities.

Additionally, the CSF is authorized to accept gifts and grants to support the program and is required to implement oversight measures, including fraud reporting mechanisms. The act prohibits discrimination against education providers based on their religious affiliation. The provisions of this act will take effect upon passage.