Education: other; student opportunity scholarship accounts; create. Creates new act. TIE BAR WITH: SB 321'25
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill establishes the ‘Student Opportunity Scholarship Act’ (SOS Act) to create a program providing scholarship funds to eligible Michigan students. These funds can be used for qualifying education expenses, such as tuition, fees, tutoring, and certain educational materials. The program prioritizes students from low-income families, students with disabilities, and foster children, and is administered by scholarship-granting organizations (SGOs). The bill also includes provisions for tax credits and establishes rules for how scholarship funds are managed and distributed.
Key provisions
- Creates a Student Opportunity Scholarship (SOS) program for eligible Michigan students.
- Defines eligible students based on income, disability status, or foster care status.
- Establishes limits on the amount of SOS funds that can be allocated to a student's account, varying based on student type and household income.
- Specifies qualifying education expenses that SOS funds can cover, including tuition, fees, tutoring, and certain educational materials.
- Requires scholarship-granting organizations (SGOs) to create a uniform process for allocating funds and to comply with specific operational requirements.
- Provides for tax credits for contributions made to SGOs.
- Outlines procedures for transferring funds between SGOs and for closing SOS accounts.
- Establishes a process for certifying SGOs and monitoring their compliance with the act.
Who is affected
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