HB694 - Education Savings Account Act

• Creates an Education Savings Account program allowing parents of eligible students to use state education funds for educational services of their choosing instead of public school attendance.

• Eligible students include those with individualized education plans or 504 accommodations, children of active-duty military or deceased service members, foster children with permanent placements, and siblings of current program participants.

• State deposits 90 percent of the base student allocation (calculated per state funding formula) into each eligible student's account for approved expenses including private school tuition, tutoring, curriculum materials, online learning programs, testing fees, and postsecondary institution tuition.

• Program limited to 1,000 new eligible students annually on a first-come, first-served basis, with participating private schools required to comply with health and safety laws, conduct background checks, and provide financial viability documentation.

• Participating private schools remain autonomous and exempt from state educational regulation beyond program compliance requirements, while the state collects test results and graduation data for public reporting after the third year.