This bill, referred to the Education Policy Committee, proposes the creation of Education Savings Accounts (ESAs) in Minnesota to help fund students' educational needs through various approved expenses. The program, titled "Education Savings Accounts for Minnesota Students Act" or "ESA4MSA," allows eligible students from lower-income families to receive state funds into these accounts. Eligibility is primarily based on household income not exceeding four times the income standard of the reduced-price meals under the National School Lunch Act.

Parents can use the funds from these accounts for expenses like tuition, textbooks, educational supplies, technology necessary for education, and services such as tutoring or specialized courses. The bill outlines specific terms for participation, including the requirement for parents to manage the education plans and ensure they meet educational goals. It prohibits the use of funds for non-educational purposes and details procedures for account oversight, application, and potential fraud prevention.

The launch of the ESA program is planned for the fall of 2026, with specific rules and guidelines set to streamline the process and ensure appropriate use of allocated funds. The bill also provides considerations and protections for students with disabilities under existing federal laws.

Overall, the bill is aimed at giving parents more flexibility in choosing educational services that best meet their children's needs while ensuring regulatory oversight to prevent misuse of funds.