ID H0062

Establishes the "Empower Parents in Education Act" to create student education savings accounts funded by 62% of the state education allocation, allowing parents to direct funds toward tuition at private, parochial, or public charter schools, higher education institutions, and qualified educational expenses.

Allocates the state education budget as follows: 62% for student education savings accounts, 30% for home district allocations based on registered students, 5% for premium payments to schools serving disadvantaged students, and 3% for a small district stabilization fund.

Requires parents to register students with either the state department of education or their local education agency to access education savings accounts; registration limited to legal name, date of birth, and address without affecting parental authority.

Deposits 50% of each student's annual savings account allocation on October 1 and 50% on March 1, with surplus funds remaining until age 24 (capped at 33% annually) and reverting to the general fund after age 24.

Establishes a small district stabilization fund for districts with fewer than 2,000 students that experience per-pupil funding reductions and do not collect maintenance and operations levies.