NE LB427

State Treasurer would establish educational savings accounts for K-12 students enrolled in any approved or accredited public, private, denominational, or parochial school in Nebraska, beginning with the 2026-27 school year

Each account receives $1,500 annually from the newly created Student Savings Account Support Fund, with payments available by July 15 or within 30 days of application

Qualified expenses include tuition and fees, textbooks, software, educational therapies, tutoring, and support services for students with disabilities; excludes transportation, food, clothing, and disposable supplies like paper and pencils

Funds must be used for tuition first before other expenses, are nontransferable, and revert to the General Fund upon graduation, death, or if the student is no longer enrolled in a qualifying school

State Treasurer monitors accounts for fraud through random audits and investigations, with confirmed fraud cases referred to Nebraska State Patrol and offenders required to pay restitution