Bill No. HB1573
Bill ID
1685870
State
IL
Title
IL HB1573 - EDUCATION SAVINGS ACCOUNT PROG
Description
Creates the Education Savings Account Act. Requires the State Board of Education to create the Education Savings Account Program. Provides that a parent of an eligible student (defined as any elementary or secondary student who was eligible to attend a public school in this State in the preceding semester or is starting school in this State for the first time and who is a member of a household whose total annual income does not exceed an amount equal to 2.5 times the income standard used to qualify for a free or reduced-price lunch under the national free or reduced-price lunch program) shall qualify for the State Board to make a grant to his or her child's Education Savings Account by signing an agreement. Requires the State Board to deposit into an Education Savings Account some or all of the State aid under the State aid formula provisions of the School Code that would otherwise have been provided to the resident school district for the eligible student had the student enrolled in the resident school district. Provides that parents participating in the Program shall agree to use the funds deposited in their eligible students' accounts for certain qualifying expenses to educate the eligible student. Sets forth provisions concerning the calculation of grant amounts and other basic elements of the Program, administration of the Program, accountability standards for participating schools, and the responsibilities of the State Board and resident school districts.
Bill Type
Bill
Category
ESAs, Income Eligibility, Specific Student Population, New Program
Session
103rd General Assembly
Special Session
No Data Available
Current Status
Failed
Status Last Updated
2025-01-07
Pending Committee
Calendar
Sponsors
Texts
Votes
No data available
Amendments
No data available
Supplements
No data available