SB 560 Summary

• Creates the Parent Empowerment, Revenue Enhancement and Classroom Size Reduction Program, a scholarship account program allowing parents of eligible students to withdraw from public schools in counties with population over 50,000 and use state education funds at participating private schools.

• Eligible students receive annual scholarship amounts based on household income: 90% of state aid factors for families at or below federal free/reduced-price lunch income levels, 60% for those up to twice that threshold, and 30% for higher incomes.

• Scholarship funds may be used for tuition at accredited private schools, textbooks, accredited tutoring, concurrent enrollment at higher education institutions, technology center courses, and educational services for students with disabilities.

• Participation is limited to 1% of total statewide public school enrollment per year on a first-come, first-serve basis, with the limitation sunsetting after 10 years; children of state legislators are prohibited from participating during their parent's term.

• Establishes the Oklahoma Education Scholarship Account Revolving Fund managed by the State Treasurer, with up to 3% retained for administrative costs; unused scholarship funds revert to support public schools or transfer to college savings plans upon graduation.