SB 5704 establishes and describes the WA children’s education savings account program, encouraging both public and private funding for the program. The WA Student Achievement Council is directed to administer the program and delineates their duties.
Low-income kindergartners are eligible for the program. Low-income is defined as eligible for free or reduced priced lunch. The initial deposit into the child’s savings account would be $100 per eligible beneficiary.
The program would be created in the custody of the state treasurer. The WA Student Achievement Council is directed to submit a report on the program to the legislature by 12/1/2025. How the program would operate, and what the report must include are identified in the legislation.
*Companion to HB 1592*