S.2455 - Educational Freedom Accounts Act114th Congress (2015-2016)
|Sponsor:||Sen. Cruz, Ted [R-TX] (Introduced 01/20/2016)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 01/20/2016 Read twice and referred to the Committee on Finance. (All Actions)|
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Summary: S.2455 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in Senate (01/20/2016)
Educational Freedom Accounts Act
This bill requires the District of Columbia to provide education savings accounts for children who are eligible to receive a free public education in the District, but whose parents choose not to enroll them in a public school or home schooling.
To receive an account, a child must be either entering kindergarten or prekindergarten or have been enrolled in a public school in the District during the previous year.
The Chief Financial Officer of the District must award a contract to a tax-exempt entity based in the District to administer the program.
The District must fund the accounts with amounts that are adjusted based on the family's income and range from 80% to 90% of the funds that the District of Columbia Public School System would otherwise spend on the child.
Upon the direction of a parent, the administering entity must distribute the funds for educational expenses, including:
- tuition at a nonpublic school or for distance education,
- curricula or online courses,
- special education,
- individual courses or extracurricular activities at a public school within the District,
- dual credit courses that qualify for both secondary and postsecondary education credit,
- transportation to and from a provider,
- contributions to qualified tuition programs (529 plans) or Coverdell education savings accounts, or
- other educational expenses approved by the administering entity.
At the end of the contract period, any remaining balances must be returned to the District.