Bill > S406

This bill expands eligibility for opportunity scholarships, requires a sequence of courses for early high school graduation, and establishes the Early Graduate Scholarship Program, appropriating funds from the General Fund for fiscal years 2017-2018 through 2031-2032 and beyond. * **Opportunity Scholarship Grant Fund Reserve:** The bill appropriates increasing amounts from the General Fund to the Opportunity Scholarship Grant Fund Reserve for fiscal years 2017-2018 through 2031-2032, with a significant increase for fiscal years 2023-2024 ($176,540,000) and 2024-2025 ($191,540,000), and further increases in subsequent years up to $520,540,000 annually from fiscal year 2032-2033 onwards. Additionally, $87,000,000 in nonrecurring funds are appropriated for fiscal year 2023-2024 and $163,000,000 for fiscal year 2024-2025. These funds are for awarding scholarship grants to eligible students attending nonpublic schools. * **Early Graduate Scholarship Program:** While no specific dollar amount is appropriated for the Early Graduate Scholarship Program in the provided text, it establishes a Reserve Fund for Early Graduate Scholarships, which will consist of funds appropriated from the General Fund in the Current Operations Appropriations Act and any interest earned. These funds are for scholarships for students who graduate from high school within three years. * **Administrative Costs:** The Authority may retain up to 2.5% of funds appropriated for opportunity scholarships for administrative costs. For the Early Graduate Scholarship Program, the Authority may use up to 1.5% of available funds for administrative costs. * **Conditions on Spending:** Funds appropriated for opportunity scholarships that are unexpended at the end of a fiscal year will be used for outreach and scholarship education assistance, and any remaining funds will be carried forward for one fiscal year before reverting to the General Fund. Unexpended funds for the Early Graduate Scholarship Program will remain available for future scholarships. * **Changes to Eligibility and Requirements:** The bill expands eligibility for opportunity scholarships to include students who meet residency requirements and have not been enrolled in a postsecondary institution full-time. It also revises the scholarship amounts based on household income and the average State per pupil allocation, with increased percentages for lower-income families. The bill also mandates a sequence of courses to allow students to graduate high school in three years and establishes the Early Graduate Scholarship Program for students who do so.