Parental Choice Education Savings Accounts; established.

Parental Choice Education Savings Accounts established. Permits the parents of qualified students, defined in the bill,to apply to the school division in which the qualified student residesfor a one-year, renewable Parental Choice Education Savings Accountthat consists of an amount that is equivalent to a certain percentageof all applicable annual Standards of Quality per pupil state fundsappropriated for public school purposes and apportioned to the residentschool division in which the qualified student resides, includingthe per pupil share of state sales tax funding in basic aid and anystate per pupil share of special education funding for which the qualified student is eligible. The bill permits the parent of the qualifiedstudent to use the moneys in such account for certain education-relatedexpenses of the qualified student, including tuition, deposits, fees,and required textbooks at a private elementary school or secondaryschool that is located in the Commonwealth. The bill also contains provisions relating to auditing, rescinding, and reviewing expensesmade from such accounts.