W.S. 48-7 - [Effective until 9/12/2025] Account

(a) One or more parents/guardians shall be designated as the account holder for an account. The account holder is authorized to manage and expend account funds in accordance with the parental agreement.

(b) If the account holder is unable to administer a student's account for any reason, the account holder may request, in writing, to designate a secondary account holder at any time during the school year. The Department will approve a request if it determines the designated secondary account holder meets the parent/guardian eligibility criteria and the secondary account holder signs the parental agreement. All requirements in this chapter that apply to an account holder apply equally to a secondary account holder.

(c) The Department shall allow an account holder for multiple participating students that reside in the same household to access all accounts through one portal provided that individual accounts must remain separate and segregated at all times.

(d) An account holder may only expend and manage funds in an account for the student to whom the funds were allocated.

(e) Each education savings account shall receive payments totaling no more than $7,000 per year, deposited from the Steamboat Legacy Scholarship Program Account on a quarterly basis.

(f) The Department may authorize a parent/guardian to be reimbursed for payments to an education service provider or purchase of a qualified educational expense made from non-account funds. Reimbursement is not guaranteed without pre-approval.

(i) The parent/guardian shall apply for reimbursement within 30 days of purchase.

(ii) The parent/guardian shall apply for reimbursement on a form provided by the Department.

(iii) The parent/guardian shall include the following with application for reimbursement:

(A) Itemized receipt showing the amount paid; and

(B) Explanation of why reimbursement was necessary instead of direct account expenditure.

(iv) The Department will make a decision on a complete reimbursement request within fourteen (14) days of receipt.

(v) A parent/guardian may request that the Department review its reimbursement decision by submitting a request to the Department within fourteen (14) days of receiving the decision. Upon receiving a request for review, the Department shall convene a review panel of three individuals who were not involved in the Department's initial decision. That panel shall make a decision within fourteen (14) days of the parent/guardian's request and inform both the parent/guardian and the Department of its determination. The panel's decision is the Department's final decision.

(g) Any unused funds in an account at the end of the school year shall remain in the account and carry forward for use during future school years so long the student remains eligible.

(h) When an ESA account is closed, remaining funds from the account shall be returned to the Steamboat Legacy Program Account by September 1 of the next program cycle.

Notes

W.S. 48-7

Adopted, Eff. 5/15/2025, exp. 9/12/2025 (Emergency).