H.F. No. 5123 - Education Savings Accounts for Minnesota Students Act

• Establishes education savings accounts (ESAs) funded at the state's adjusted per pupil formula allowance for eligible students whose household income does not exceed four times the reduced-price meal threshold.

• First-year participation capped at 5% of prior year public school average daily membership, increasing by 3% annually; prioritizes kindergarten entrants, students from public schools, and siblings of current participants.

• Allows ESA funds for qualifying expenses including tuition, tutoring, curriculum, online courses, educational therapies, technology, postsecondary institution costs, and up to $400 annually in school supplies.

• Requires participating students to receive organized educational services with measurable goals in reading, writing, mathematics, social studies, and science while prohibiting simultaneous public school enrollment.

• Commissioner must establish application process (accepting applications by December 1, 2024 for fall 2025 term), implement fraud prevention measures, manage monthly electronic payments via ESA cards, and may contract with private administrators.