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 the creation of a Wyoming freedom scholarship program account funded by state appropriations and other sources. 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 to use ESA funds appropriately and must not enroll their child in a public school while participating in the program.

The act also establishes a parent review commission to assist the state treasurer in determining qualifying expenses and improving the ESA program. The state treasurer is empowered to contract with private organizations for program administration and conduct audits of ESAs. The bill modifies the distribution of state revenues to allocate funds to the Wyoming Freedom Scholarship program and introduces provisions for students in the ESA program to meet compulsory attendance requirements. It appropriates $30 million to the program and mandates the state treasurer to adopt rules for the ESA program by January 1, 2025, with applications opening shortly thereafter. The act is set to 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