SC S0062

Establishes the South Carolina Education Scholarship Trust Fund to provide scholarships of $7,500 per student (2025-2026) for qualifying educational expenses at nonprofit independent schools, with annual adjustments tied to average per-pupil funding increases

Limits eligibility to South Carolina residents aged 5+ with household income up to 300% of federal poverty guidelines in 2025-2026, expanding to 500% in 2026-2027 and beyond; excludes homeschool students and charter school attendees

Caps program enrollment at 10,000 students in 2025-2026 and at least 15,000 in 2026-2027 and beyond, with priority application windows for current participants, military families, students under 300% poverty, and those transferring from public schools

Requires participating education service providers to conduct criminal background checks, comply with health and safety codes, administer standardized assessments, and maintain surety bonds if receiving over $50,000; bars providers with financial ties to General Assembly members

Creates a trustee appointed by the State Superintendent to manage fund assets separately from state funds, with up to 5% of funds available for administrative costs; unused student funds roll over annually rather than reverting to the state