Plain English Breakdown
The bill did not pass, so there are no official details on what would have happened for income levels above 250% of the federal poverty level.
Education Savings Accounts Income Qualifications
This act modifies how much money is put into education savings accounts for students based on their household income.
What This Bill Does
- Changes the amount of money that goes into a student's education savings account each year depending on their family's income level.
- Specifies three different amounts for three income ranges: $6,000 annually for those at or below 150% of the federal poverty level; $4,800 annually for those between 150% and 200%; and $3,600 annually for those between 200% and 250% of the federal poverty level.
Who It Names or Affects
- Students who qualify for Wyoming's Education Savings Account program based on income levels.
- Families and households whose income determines eligibility for different funding amounts.
Terms To Know
- Education Savings Accounts (ESA)
- Accounts that provide funds to families for educational expenses, such as tuition, books, or technology.
- Federal Poverty Level
- A measure used by the U.S. government to determine eligibility for certain programs and benefits based on income relative to family size.
Limits and Unknowns
- The bill did not pass, so these changes would not take effect.
- It does not specify what happens for students with household incomes above 250% of the federal poverty level.