KRS 141.506 — Application to establish an education opportunity account for eligible students -- Renewal -- Process to cease funding student account. (See LRC Note below)

(2) The AGO shall approve an application for an EOA if:
(a) An AGO verifies that the student on whose behalf the parent is applying is an
eligible student;
(b) Funds are available for the EOA; and
(c) The parent signs an agreement with the AGO:
1. To use the funds in the EOA only for the covered qualifying expenses;
2. Not to establish any other EOA for the eligible student with any other
AGO;
3. To comply with the rules and requirements of the EOA program; and
4. Not to use EOA funds to cover the cost of educational materials or
services if they are currently receiving the same types of materials or
services through the school district in which the student is enrolled.
(3) The AGO shall annually renew a student’s E OA if funds are available unless the
student’s family income has increased above two hundred fifty percent (250%) of
the amount of household income necessary to establish eligibility for reduced -price
meals based on size of household as determined annually by the United States
Department of Agriculture applicable to the Commonwealth, pursuant to 42 U.S.C.
secs. 1751 to 1789.
(4) In the event that an eligible student becomes ineligible for reasons other than fraud
or misuse of funds, the AGO may cease fundin g for the student’s EOA provided
that:
(a) The AGO immediately suspends payment of additional funds into the
student’s EOA. For EOAs that have been open for at least one (1) full school
year, the EOA shall remain open and active for the parent to make qual ifying
expenditures to educate the student from funds remaining in the EOA. When
no funds remain in the student’s EOA, the AGO may close the EOA;
(b) If a parent reapplies to the AGO and signs a new written agreement, payments
into the student’s existing E OA may resume if the EOA is still open and
active. A new EOA may be established if the student’s EOA was closed; and
(c) An AGO shall adopt policies to provide the least disruptive process possible
for EOA students desiring to leave the EOA program.