AR SB471

Amends the Arkansas Children's Educational Freedom Account Program (LEARNS Act) to allow parents to annually elect to direct account funds to their child's assigned resident public school instead of a participating private school or service provider.

For the 2023-2024 school year, the Department of Education shall make four equal quarterly payments from the student's account to the resident public school upon parent direction.

The department may contract with vendors, work with public schools to develop disbursement processes, and withhold up to 5% of funds annually for program administration.

Beginning with the 2024-2025 school year, the department must develop an electronic system allowing parents to direct account funds to resident public schools via electronic funds transfer, automated clearing house transfer, debit card, or other systems.

Modifies prohibitions on account fund use to allow exceptions under the new public school funding option while maintaining restrictions on refunds and rebates to parents.