Defines home school in GS 115C-562.1 (definitions concerning scholarship grants to students attending nonpublic schools [Scholarship Grants]) as a nonpublic school that meets the requirements of GS Chapter 115C, Article 39, Part 3. Makes conforming changes to nonpublic school by adding in schools that meet Part 3. Defines private school. Broadens the nonpublic school entities eligible for Scholarship Grants to include home schools. Sets the Scholarship Grant rate for a home school at $1,500 per year per eligible student. Specifies that Scholarship Funds may be used for required costs of a home school, which include books, equipment and other required items, but not tuition, fees, or transportation. Makes organizational and conforming changes. Makes conforming changes to GS 115C-562.4 (identification of nonpublic schools and distribution of Scholarship Grants).

Specifies that of the obligations listed in GS 115C-562.5 (obligations of nonpublic schools accepting students that receive Scholarship Grants), only private schools are required to (1) administer the specified tests to its at least once per year; (2) retain the described information if it accepts more than 25 students; (3) not require additional student fees because the student has a Scholarship Grant; (4) not discriminate with respect to the protected classes (race, color, national origin) listed in 42 USC 2000d; (5) comply with notice requirements if the State Education Assistance Authority (Authority) determines it is not in compliance with the statute, thus rendering it ineligible to receive future scholarship funds. Makes conforming changes. Requires home schools that accept students receiving scholarship grants to comply with the provisions of Part 3, Article 39 of GS Chapter 115C (governing home schools). Amends the endorsement and deposit provisions of GS 115C-562.6 (Scholarship endorsement) to require scholarship grant funds awarded to eligible students to a private school to be remitted for endorsement by at least one of the student's parents/guardians. Only prevents parents or guardians of students attending private schools from designating an individual associated with the private school as the parent’s attorney-in-fact to endorse the Scholarship Grant.  

Appropriates from the General Fund to the Opportunity Scholarship Grant Fund Reserve $250 million in additional recurring dollars for 2026-27. Beginning with the 2027-28 year through the 2031-32 year, increases the amounts appropriated in GS 115C-562.8, from the General Fund to the Opportunity Scholarship Grant Fund Reserve (Reserve) by at least $250,000 per year, as described. For the 2032-33 year and thereafter increases the appropriation from $825 million to $1.075 billion. 

Effective July 1, 2026, and applies to applications for Scholarship Grants beginning with the 2027-2028 school year.