AR SB620

Creates the Capital Promise Scholarship Pilot Program in Arkansas Code Title 6, Chapter 18, Subchapter 20, establishing a demonstration project to provide scholarships to low-income eligible students in Pulaski County for K-12 nonpublic schools and higher education institutions.

Limits annual scholarship funding to $3,500,000 total and establishes scholarship amounts at 80% of foundation funding for K-8 students, 100% for grades 9-12, and $5,000 for eligible higher education students.

Program runs from the 2020-2021 school year through June 30, 2025, with a single certified eligible student support organization managing applications and disbursements in quarterly installments.

Permits scholarship funds to cover tuition, fees, uniforms, textbooks, tutoring services, assessments, specialized services (including speech therapy, occupational therapy, and dyslexia support), and transportation up to 10% of funds.

Creates the Capital Promise Scholarship Fund in state treasury funded by transfers from the Rainy Day Fund and establishes oversight through annual audits, reporting requirements, and compliance monitoring by the Department of Education.