The Wyoming Freedom Scholarship Act establishes a framework for education savings accounts (ESAs) aimed at providing financial support for eligible students' educational expenses. The act designates the state treasurer as the administrator of the ESA program, which will include a dedicated Wyoming freedom scholarship program account funded by state appropriations and transfers. Each ESA student will receive an annual deposit of $6,000, adjusted for inflation, to cover qualifying expenses such as tuition and educational materials. Parents are required to sign an agreement with the state treasurer to ensure proper use of funds and to release school districts from their obligation to educate the student.

Additionally, the act creates a parent review commission to assist the state treasurer in evaluating expenditures and improving the ESA program. The commission will consist of seven members appointed by the state treasurer and will oversee the approval of ESA fund expenditures and review appeals from education service provider denials. The bill also stipulates that 50% of state revenues will be allocated to the public school foundation program account and 50% to the Wyoming freedom scholarship program account. It appropriates $30 million to the scholarship program and mandates that the state treasurer adopt necessary rules for the ESA program, with applications starting January 1, 2024. The act will take effect immediately, with certain sections becoming effective on the specified date.

Statutes affected:
Introduced: 9-4-601, 21-4-102, 21-4-301, 21-13-310