IL HB0427

Creates the Education Savings Account Program beginning in fall 2016-2017 school year, allowing parents of eligible low-income students to receive state education funding in individual savings accounts instead of having funds go to resident school districts.

Eligible students must be elementary or secondary students whose household income does not exceed 2.5 times the federal free or reduced-price lunch income threshold; grant amounts range from 25-100% of state aid based on family income level.

Funds in Education Savings Accounts may be used for tuition at participating private schools, textbooks, tutoring, curriculum, online learning programs, standardized testing fees, postsecondary tuition, and special education services.

Participating schools must comply with health and safety laws, conduct criminal background checks on employees, hold valid occupancy permits, certify nondiscrimination policies, and demonstrate financial viability if receiving $50,000 or more in Education Savings Account funds.

Parents and students must participate in annual testing (state achievement tests or national norm-referenced tests) with results reported to the State Board; State Board must publish aggregated test results and graduation rates after three years of data collection.