SB 1572 Summary

• Creates the Education Savings Account Program allowing eligible students to receive state funding (40% of base student allocation) deposited into accounts for private school tuition, tutoring, dual enrollment, or college savings plans.

• Establishes student eligibility based on kindergarten/first grade entry, sibling status, prior public school enrollment, or random selection from home education and private school applicants.

• Requires parents to annually apply and select an educational option (private school, home education, or tutoring); students remain ineligible if enrolled in public schools, charter schools, or state-funded virtual instruction programs.

• For 2017-2018 school year, limits enrollment to July 1-31 and restricts eligible students to kindergarten/first grade entrants and those previously counted as public school full-time equivalent students; excess applicants selected randomly.

• Designates financial institutions as account trustees (limited to 3% fees), requires quarterly payments to schools or educational programs, and authorizes the Commissioner of Education to deny or suspend private school participation for noncompliance or fraudulent activity.