Virginia Education Success Account Program; established, report.

Virginia Education Success Account Program established. Establishes the Virginia Education Success Account Program wherebythe parents of qualified students, defined in the bill, who residein school divisions in which the school board has, by majority vote,affirmed its participation in the program, may apply for a one-year, renewable Virginia Education Success Account that consists of anamount that is equivalent to a certain percentage of all applicableannual Standards of Quality per pupil state funds appropriated forpublic school purposes and apportioned to the school division inwhich the qualified student resides, including the per pupil shareof state sales tax funding in basic aid and any per pupil share ofstate special education funding for which the qualified student iseligible. The bill permits the parent of the qualified student touse the moneys in such account for certain qualified expenses ofthe qualified student, including tuition, deposits, fees, and requiredtextbooks at a private elementary school or secondary school thatis located in the Commonwealth. The bill also contains provisionsrelating to program and account administration by the Department of the Treasury and a third party that serves as program administratorpursuant to a contract with the Department of the Treasury.