SB609 Summary

• Program Creation: Establishes the Oklahoma Education Empowerment Scholarship Savings Program administered by the Office of the State Treasurer to provide education savings cards for qualified educational expenditures.

• Qualified Expenses: Covers online curriculum, private school tuition, educational services from non-resident districts, extracurricular activities, textbooks, tutoring, college entrance testing, and college tuition—excluding computer hardware, transportation, and consumable supplies.

• Student Eligibility: Available to residents not receiving education through other means, students previously enrolled in public schools for at least 100 days, and children of active-duty military members.

• Funding Structure: State Department of Education transfers 80% of per-pupil state funding to participating students' education savings accounts, with 20% remaining in the student's resident district; the remaining 3% may be retained by the State Treasurer for program administration.

• Effective Date: Program becomes effective July 1, 2015, with provisions exempting scholarship monies from taxable income for both parents and students.