Virginia Education Success Account Program; established, report.

Virginia Education Success Account Program established. Permits the parents of qualified students, defined in the bill,to apply for a one-year, renewable Virginia Education Success Accountthat consists of an amount that is equivalent to a certain percentage of all applicable annual Standards of Quality per pupil state funds appropriated for public school purposes and apportioned to the schooldivision in which the qualified student resides, including the perpupil share of state sales tax funding in basic aid and any per pupil share of state special education funding for which the qualifiedstudent is eligible. The bill permits the parent of the qualifiedstudent to use the moneys in such account for certain qualified expensesof the qualified student, including tuition, deposits, fees, and required textbooks at a private elementary school or secondary schoolthat is located in the Commonwealth. The bill also contains provisionsrelating to program and account administration by the Departmentof the Treasury and a third party that serves as program administratorpursuant to a contract with the Department of the Treasury.