H.F. No. 768 - Education Savings Accounts for Students Act

• Creates Education Savings Accounts (ESAs) as a learning option for eligible students who previously attended public schools and whose household income does not exceed three times the National School Lunch Program's reduced-price meal threshold.

• ESA funds equal the statewide average general education aid per adjusted pupil unit and can be used for tuition at nonpublic schools, tutors, curriculum, online learning, testing fees, educational therapies, postsecondary institution costs, and other qualifying education expenses.

• Program participation capped at 1% of public school average daily membership in fiscal year 2025, increasing to 1.5% in 2026 and 2% thereafter; first-come, first-served basis with applications beginning July 1, 2024.

• Participating students remain eligible to receive monthly ESA payments until they return to public school, graduate high school, or turn 21; remaining funds after high school graduation may be used for postsecondary education and must be returned to state general fund after four consecutive years of non-enrollment.

• School districts receive a one-time adjustment equal to 10% of statewide average general education revenue per adjusted pupil unit for each participating student who withdraws; nonpublic schools and educational service providers are autonomous and not subject to state regulation regarding their educational programs.