H.B. No. 612 proposes the establishment of an education savings account program in Texas, designed to give parents greater control over their children's education by allowing funds to follow each child to the educational option that best suits their needs. The bill introduces an insurance premium tax credit for contributions to the program and outlines the responsibilities of certified educational assistance organizations. It also includes provisions for the award of attorney's fees in legal actions challenging educational choice laws, ensuring that those who seek to prevent enforcement may be liable for the prevailing party's costs.

The legislation mandates the creation of a parental review committee to oversee the approval of educational service providers and vendors, ensuring diverse representation from various educational backgrounds. It specifies approved education-related expenses and establishes a framework for the oversight and administration of accounts, including random audits and the suspension of accounts that do not comply with program requirements. Additionally, the bill introduces new provisions related to tax credits for contributions to the education savings account fund and outlines the application process, with the comptroller responsible for overseeing these processes. The act is set to take effect on January 1, 2026, and applies to contributions made on or after that date.

Statutes affected:
Introduced: Government Code 411.109 (Government Code 411)