H916 Summary

• Establishes the Personal Education Savings Scholarship Program administered by the North Carolina State Education Assistance Authority to provide scholarships to students with disabilities under age 22.

• Eligible students receive scholarships equal to the statewide average per pupil allocation plus the per pupil allocation for children with disabilities, usable for tuition at nonpublic schools or public schools other than their assigned school, plus special education, related services, and educational technology.

• Unused scholarship funds are contributed to a Parental Savings Trust Fund for postsecondary education expenses, with remaining funds returned to the state after four years if the student is not continuously enrolled in an eligible postsecondary institution.

• Appropriates $450,000 for fiscal year 2016-2017 and contemplates $5,000,000 in recurring funds starting in fiscal year 2017-2018, with up to 5 percent retained annually for administrative costs.

• Effective July 1, 2016, with scholarships available beginning the 2017-2018 school year; requires annual reporting to the Joint Legislative Education Oversight Committee.