S357 - Adjustments to the 2023 Appropriations Act. (SL 2024-40)

Overview: Section 4 of S.L. 2024-40 increases the maximum amount of funding from $2 million to $3 million for Personal Education Student Accounts (PESAs), which provide scholarships for students with disabilities, that the State Education Assistance Authority (SEAA) can retain for administrative expenses. SEAA can now retain either 4% of the funds appropriated for PESAs or $3 million, whichever is lesser. Additionally, if SEAA does not use all of the funds it is authorized to reserve for the administration of the Opportunity Scholarships Program, it can use those funds to cover any additional administrative costs of the PESAs beyond the $3 million.

This section became effective July 8, 2024.