SB304 Summary: Nonchartered Educational Savings Account Program

• Establishes a new Nonchartered Educational Savings Account (ESA) Program beginning in the 2025-2026 school year, administered by the Ohio Treasurer of State and Department of Education and Workforce, allowing parents to establish accounts for students attending nonchartered nonpublic schools.

• Funds transferred to each ESA can be used for tuition and fees at participating nonchartered nonpublic schools, as well as curriculum, textbooks, instructional materials, and supplies for eligible K-12 students.

• Scholarship amounts determined by family income using a formula-based calculation; students from families at or below 450% of federal poverty level receive the "base amount" (90% of statewide average per-pupil cost), with reduced amounts for higher-income families based on a power equation.

• Parents must apply annually (starting March 1), affirm their student takes nationally recognized standardized achievement assessments, maintain expense documentation, and commit not to enroll their student in public schools, community schools, STEM schools, or chartered nonpublic schools while participating.

• Participating nonchartered nonpublic schools must maintain physical locations in Ohio, keep records of program expenses, comply with health/fire/safety laws, notify the Department of Education of changes, and provide parents authority over fund use; schools are autonomous and exempt from curriculum regulation.