CA SB64

Establishes the School Choice Flex Account (SCFA) Trust to provide $8,000 annually per eligible K-12 student (or $16,000 for students with exceptional needs) for private school tuition and education expenses, with amounts adjusted annually for inflation

Phases in eligibility based on family income: 2027-29 limited to families earning under $50,000 (single) or $100,000 (joint); 2029-31 expands to under $100,000 (single) or $200,000 (joint); universal eligibility begins 2031-32

Creates a 7-member SCFA Trust Board to administer accounts, disburse funds to accredited private schools, and audit expenditures, with administrative costs capped at 1% of total program funds

Excludes SCFA and SEFA distributions from state gross income for tax purposes beginning January 1, 2027

Requires unused funds in accounts to be returned to the state by June 30 each year and becomes operative only if an accompanying Senate Constitutional Amendment is approved by voters in November 2026