Sec. 2. (a) The ESA program shall be administered by the treasurer of state in consultation with the state board and the department.

     (b) The CSA program shall be administered by the treasurer of state in consultation with the commission for higher education and the department. The treasurer of state may contract with one (1) or more entities under IC 5-22-6 to maintain and manage CSA accounts under IC 20-51.4-4.5.

     (c) The treasurer of state may contract with one (1) or more entities to maintain and manage ESA accounts established under IC 20-51.4-4-1 after issuing a request for proposal under IC 5-22-9. Each entity shall:

(1) meet qualification requirements established by the treasurer of state; and

(2) comply with generally accepted accounting principles.

     (d) The treasurer of state shall establish reasonable fees for entities described in subsection (c) participating in the program based upon market rates.

As added by P.L.165-2021, SEC.180. Amended by P.L.202-2023, SEC.43.