FL S1492

Establishes the Education Savings Account Program allowing eligible students to receive state funds deposited into accounts to pay for private school tuition, private virtual school, tutoring, postsecondary dual enrollment, or college savings plans.

Student eligibility includes those entering kindergarten/first grade, siblings of participants, or students previously counted as full-time equivalent in public schools; students remain eligible until high school graduation or enrollment in a publicly-funded school.

Account funds are distributed quarterly by a selected financial institution (capped at 3% fees) to eligible private schools, tutors, or postsecondary institutions chosen by parents; unspent funds must be donated to schools or the student's former school district within 3 months of program exit.

Participating private schools must be accredited by the Southern Association of Colleges and Schools or eligible for existing scholarship programs; the Department of Education verifies eligibility annually, conducts site visits, and contracts with an independent research organization to measure student learning gains.

For the 2013-2014 school year, the enrollment period is July 1-31, 2013, with participation limited to the number specified in the General Appropriations Act; both the State Board of Education and Chief Financial Officer may adopt emergency rules for implementation.