Funding calculations – School improvement fund – Allowable uses of ESA funds – Participating schools – Administration of program

(a) The maximum annual amount to which a participating student is entitled under the program must be equal to the amount representing the per pupil state and local funds generated and required through the TISA for the LEA in which the participating student resides, but must not exceed the combined statewide average of required state and local TISA allocations per pupil. The state board of education may promulgate rules to annually calculate and determine the combined statewide average of required state and local TISA allocations per pupil. Ask a legal question, get an answer ASAP!30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.Fraud: Intentional deception resulting in injury to another.Legacy: A gift of property made by will.Legacy student: means a participating student who:(A)(i) Graduates from high school. See Tennessee Code 49-6-2602Parent: means the parent, guardian, person who has custody of the child, or individual who has caregiving authority under §. See Tennessee Code 49-6-2602Participating school: means a private school, as defined by §. See Tennessee Code 49-6-2602Participating student: means : (A) An eligible student who is seventeen (17) years of age or younger and whose parent is participating in the education savings account program. See Tennessee Code 49-6-2602Program: means the education savings account program created in this part. See Tennessee Code 49-6-2602State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105State board: means the state board of education. See Tennessee Code 49-6-2602written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105(b) (1) For the purpose of funding calculations, each participating student must be counted in the enrollment figures for the LEA in which the participating student resides. The ESA funds for participating students must be subtracted from the state TISA funds otherwise payable to the LEA. The department shall remit funds to a participating student’s ESA on at least a quarterly basis. Any funds awarded under this part are the entitlement of the participating student or legacy student, under the supervision of the participating student’s or legacy student‘s parent if the participating student or legacy student is seventeen (17) years of age or younger. (2) (A) There is established a school improvement fund to be administered by the department that, for the first three (3) fiscal years in which the program enrolls participating students and subject to appropriation, shall disburse an annual grant to each LEA to be used for school improvement in an amount equal to the ESA amount for participating students under the program who: (i) Were enrolled in and attended a school in the LEA for the one (1) full school year immediately preceding the school year in which the student began participating in the program; and (ii) Generate TISA funds for the LEA in the applicable fiscal year that will be subtracted from the state TISA funds payable to the LEA under subdivision (b)(1). (B) (i) Any balance of unused funds allocated to the program remaining at the end of any of the first three (3) fiscal years of the program must be disbursed as an annual school improvement grant to LEAs that have priority schools as defined by the state’s accountability system pursuant to § 49-1-602, but that do not have participating students in the program. (ii) After the first three (3) fiscal years in which the program enrolls participating students, the department shall disburse any appropriations to the fund established in this subdivision (b)(2) as school improvement grants for programs to support schools identified as priority schools, as defined by the state’s accountability system pursuant to § 49-1-602, for 2021 or any year thereafter. (3) Any balance in the fund established in subdivision (b)(2) remaining unexpended on the program at the end of any fiscal year after the third fiscal year does not revert to the general fund, but is carried forward for expenditure in subsequent years. (c) The department shall provide parents of participating students or students, as applicable, with a written explanation of the allowable uses of ESA funds, the responsibilities of parents regarding ESA funds and the parents’ participating students, and the department’s duties regarding ESA funds and eligible students, participating students, and legacy students. (d) The department shall post on the department’s website a list of participating schools for each school year, the grades taught in each participating school, and any other information that the department determines may assist parents in sel