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IL HB2820

IL HB2820
EDUC SAVINGS ACCOUNT PROGRAM


summary

Introduced
02/05/2025
In Committee
02/06/2025
Crossed Over
Passed
Dead

Introduced Session

104th General Assembly

Bill Summary

Creates the Education Savings Account Act. Provides that, subject to appropriation, the State Board of Education shall develop and implement an education savings account program for eligible pupils. Provides that education savings account payments shall be made available to parents and guardians in the manner authorized for the payment of qualified educational expenses as provided in the Act. Provides that parents and guardians shall first use education savings account payments for all qualified educational expenses that are tuition and fees for which the parent or guardian is responsible for payment at the pupil's nonpublic school prior to using the education savings account for other qualified educational expenses. Sets forth provisions regarding program eligibility, application requirements, disbursement of funds, testing requirements, and rulemaking. Effective July 1, 2025.

AI Summary

This bill creates the Education Savings Account (ESA) program, which provides financial support for students attending nonpublic schools. The program will initially be available for the 2025-2026 school year, with eligibility expanding over time. Specifically, students entering kindergarten, new nonpublic school students, and students from lower-income households can receive ESA payments to cover qualified educational expenses like tuition, fees, textbooks, educational therapies, curriculum materials, and testing fees. Parents must first use the funds for school tuition and fees before applying them to other qualified expenses. Eligible families must apply annually between January and June preceding the school year, with payments deposited into individual accounts by July 15. Students must take required state and federal assessments, and schools cannot refund or rebate any ESA payments. Unused funds will remain in the student's account for future qualified expenses until the student graduates high school or turns 20, at which point any remaining balance will be transferred to the state's General Revenue Fund. The State Board of Education will manage the program, develop implementation rules, and oversee the annual application and payment process.

Sponsors (1)

Last Action

Referred to Rules Committee (on 02/06/2025)

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