Education Savings Account Program; established.

Education Savings Account Program; establishment. Establishes the Education Savings Account Program (the Program),to be administered by the Department of Education (the Department)with assistance from each local school board, whereby the parentof any elementary or secondary school student who (i) is a memberof a household whose annual income does not exceed two times theannual household income that would qualify the student for free orreduced-price lunch and (ii) was eligible to attend a public schoolin the Commonwealth in the preceding semester or is starting elementaryor secondary school in the Commonwealth for the first time is eligibleto receive an education savings account, for as long as the studentis of school age and the amount of which is determined pursuant toa calculation set forth in the bill, to cover certain enumeratededucational expenses for his child. The bill requires the Departmentto establish rules and regulations for the Program and contains conditions,limitations, and other requirements for the Program, including provisionsrelating to the accountability and educational autonomy of individualsand entities receiving account funds to cover qualified expenses.