Senate Bill 2771 Summary

• Establishes the Mississippi Education Savings Scholarship Accounts Program administered by the State Department of Education, allowing parents to withdraw eligible students from public schools and receive 90% of the base student cost allocation for educational expenses.

• Qualified students must have attended public school for at least 100 days in the prior year or registered as new first-time students, and parents must agree to provide instruction in reading, grammar, mathematics, social studies, and science.

• Account funds may be used for private school tuition, textbooks, educational therapies, tutoring, curriculum, online learning programs, standardized tests, 529 college savings contributions, postsecondary institution expenses, and public school services.

• Local school districts must transfer 90% of ad valorem tax receipts and in-lieu payments received per pupil directly to the State Treasurer for deposit into individual student accounts, with transfers required within three business days of receipt.

• Accounts close upon student graduation from postsecondary institution or four consecutive years after high school graduation without enrollment in eligible postsecondary education, with remaining funds returned to the state; program becomes effective July 1, 2015.