(a) The Hope Scholarship Program is established to provide the option for a parent to better meet the individual education needs of his or her eligible child. The program shall be operational no later than July 1, 2022.
(b) The board shall create a standard application form that a parent can submit to establish his or her students eligibility for the award of Hope Scholarship funds, to be placed in a personal education savings account to be used for qualifying education expenses on behalf of the eligible recipient as provided for in 18-31-7 of this code. Information about scholarship funds and the application process shall be made available on the boards website.
(c) The board shall make such applications available no later than March 1, 2022 and shall begin accepting applications immediately thereafter. The board may update the application as needed. The board shall issue an award letter to eligible recipients within 45 days of receipt of a completed application and all required documentation.
(d) The board shall approve an application for a Hope Scholarship if all of the following circumstances are met:
(1) A parent submits an application for a Hope Scholarship in accordance with the legislative rules promulgated by the board;