Rhode Island 2023 Regular Session

Rhode Island House Bill H5795 Compare Versions

Only one version of the bill is available at this time.

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5	5	2023 -- H 5795
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7	7	LC001877
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9	9	S TATE OF RHODE IS LAND
10	10	IN GENERAL ASSEMBLY
11	11	JANUARY SESSION, A.D. 2023
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14	14	A N A C T
15	15	RELATING TO EDUCATION -- EDUCATION SAVINGS ACCOUNTS PRO GRAM
16	16	Introduced By: Representatives Rea, Chippendale, Place, Newberry, Cardillo, J. Brien,
17	17	Casey, Edwards, McNamara, and Cotter
18	18	Date Introduced: February 22, 2023
19	19	Referred To: House Finance
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22	22	It is enacted by the General Assembly as follows:
23	23	SECTION 1. Title 16 of the General Laws entitled "EDUCATION" is hereby amended by 1
24	24	adding thereto the following chapter: 2
25	25	CHAPTER 7.3 3
26	26	EDUCATION SAVINGS ACCOUNTS PROGRAM 4
27	27	16-7.3-1. Education savings accounts program established. 5
28	28	(a) Upon request to the Rhode Island department of education of any parent, guardian or 6
29	29	caretaker of any school age child in the state, the general treasurer shall establish, in any form as 7
30	30	the general treasurer deems appropriate, an education savings account program. The purpose of the 8
31	31	program shall be to assist and support the parent(s), guardian(s) and caretaker(s) of each student in 9
32	32	the state with the tuition, materials, tutors, technology and other educational support in order that 10
33	33	the parent(s), guardian(s), or caretaker(s) of any student with an education savings account shall be 11
34	34	entitled to utilize, at their sole discretion, any funds in the education savings account established 12
35	35	for the student for tuition, tutoring, technology, supplies and any other learning support measures 13
36	36	or materials for any student learning at home or at any other remote-learning site, public school, or 14
37	37	private school. 15
38	38	(b) Each education savings account shall be maintained in a restricted receipt savings 16
39	39	account and shall be managed by the parent(s), guardian(s), or caretaker(s) of the student. 17
40	40	(c) The Rhode Island department of education shall determine the available per pupil cost 18
41	41	of the student's home school district to the existing students of the school district. Said per pupil 19
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45	45	cost shall be set aside by the school district in the restricted receipt savings account established for 1
46	46	each student of the school district entitled to an education savings account. 2
47	47	(d) The parent(s), guardian(s), or caretaker(s) of each student for whom an education 3
48	48	savings account is established may contribute additional monies to such account. 4
49	49	(e) For state income tax purposes, the amount contributed and the annual earnings 5
50	50	therefrom contributed to an education savings account by a parent, guardian or caretaker shall be 6
51	51	exempt from the state income tax and shall not be included in the Rhode Island personal income 7
52	52	tax of the parent(s), guardian(s) or caretaker(s) making the contribution to the education savings 8
53	53	account. 9
54	54	(f) The parent(s), guardian(s), or caretaker(s) of any student with an education savings 10
55	55	account shall be entitled to utilize, at their sole discretion, any funds in the education savings 11
56	56	account established for the student for tuition, tutoring, technology, supplies and any other learning 12
57	57	support measures or materials for any student learning at home or at any other remote-learning site, 13
58	58	public school, or private school. 14
59	59	(g) Once a parent, guardian, or caretaker of a student accesses and utilizes funds from an 15
60	60	education savings account established pursuant to this chapter to enable their student to attend 16
61	61	another public school: 17
62	62	(1) Their student shall be ineligible to return to their previous, sending public school during 18
63	63	the remainder of that school year; and 19
64	64	(2) The receiving district, if it is a public school district, shall be able to negotiate the tuition 20
65	65	to be charged for the student to attend school in that receiving district, prior to the student attending 21
66	66	school in that district. 22
67	67	SECTION 2. This act shall take effect upon passage. 23
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74	74	EXPLANATION
75	75	BY THE LEGISLATIVE COUNCIL
76	76	OF
77	77	A N A C T
78	78	RELATING TO EDUCATION -- EDUCATION SAVINGS ACCOUNTS PROGRAM
79	79	***
80	80	This act would require the general treasurer, upon a request to the department of education 1
81	81	(RIDE) by a parent or guardian, to establish an education savings account to assist and support the 2
82	82	parents, guardians and caretakers of students in any school district of the state with the tuition, 3
83	83	materials, tutors, technology and other educational support for any student learning at home or at 4
84	84	any other remote-learning site. The amounts contributed and interest earned would be exempt from 5
85	85	the state income tax. 6
86	86	This act would take effect upon passage. 7
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