A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, TO ESTABLISH THE "EQUAL OPPORTUNITY EDUCATION SCHOLARSHIP ACCOUNT ACT" BY ADDING CHAPTER 8 TO TITLE 59 SO AS TO PROVIDE A CITATION, TO STATE THE PURPOSE OF THE CHAPTER, TO PROVIDE NECESSARY DEFINITIONS, TO PROVIDE PARENTS OF ELIGIBLE CHILDREN MAY ESTABLISH AND FUND ACCOUNTS FOR USE IN MEETING CERTAIN EDUCATIONAL EXPENSES, TO PROVIDE GUIDELINES FOR THE USE OF SUCH FUNDS AND PENALTIES FOR MISUSE, AND TO PROVIDE CERTAIN RELATED POWERS AND DUTIES OF THE EDUCATION OVERSIGHT COMMITTEE, AND TO CREATE A PARENTAL REVIEW PANEL TO ASSIST IN DETERMINING WHETHER CERTAIN EXPENSES CONSTITUTE QUALIFIED EDUCATIONAL EXPENSES, AMONG OTHER THINGS.