Purpose

The bill aims to establish an "Education Empowerment Account Program" in Minnesota. This program is designed to support students by providing financial resources that can be used for various educational purposes, potentially enhancing educational opportunities and flexibility for families.

Main Provisions

• Education Empowerment Accounts: These are individual financial accounts created for eligible students to cover approved education-related expenses.
• Eligible Students: Any student residing in Minnesota who is eligible to enroll in public school from pre-kindergarten through 12th grade.
• Allowable Expenses: Funds in the account can be used for tuition, test registration fees, instructional materials, educational therapies, transportation, and necessary technology.
• Funding and Administration: Each student's account will be funded based on a statewide average education revenue formula. The Minnesota Commissioner of Education is tasked with creating and overseeing the program and its finances.

Significant Changes

• This bill introduces a new mechanism for distributing educational funds directly to student accounts, allowing money to be spent more flexibly by parents on varied educational expenses.
• Unused education empowerment account funds can be applied to post-secondary tuition following high school graduation.
• If a participating student re-enrolls in a Minnesota public or charter school, any remaining funds in the account must be returned to the state's general fund.

Relevant Terms

education empowerment accounts, eligible education expenses, education finance, customized education funding, nonpublic schools, school choice, federal funds, special revenue fund, Minnesota public school students.