H259 - 2023 Appropriations Act. (SL 2023-134)

Overview: Section 8A.13 of S.L. 2023-134 authorizes the State Education Assistance Authority (SEAA) to place unexpended funds appropriated for the Personal Education Student Accounts (PESA), which provide scholarships for students with disabilities, into an institutional trust fund of up to $10 million (trust fund). That trust fund will be used to award scholarships to students in any year in which the funds available are exceeded by the number of eligible students.

SEAA is required to report on specific metrics related to the use of the trust fund to award scholarships by April 1 in any fiscal year in which funds are used from the trust fund.

This section became effective June 30, 2023, and applies beginning with awards of scholarships for the 2023-2024 school year.