Specifies that, if a private school approved by the State Board of Education seeks approval to offer and administer an online school program, including under contract with a third party, the requirements for minimum instructional hour offerings is met for the online school program. Residential dwellings of a parent, guardian, or custodial is deemed an adequate physical facility for students enrolled in the online school program. The online school program is not required to be offered for the same grade levels as the approved private school. No private school offering and administering an online program, third party that contracts with a private school to offer and administer the program, nor parent, guardian, or custodian providing an online program may receive state funding to provide the program. The Private School Advisory Committee must examine issues associated with state approval of online school programs offered by private schools and must consider whether criteria or procedures for approval in addition to those provided in the bill should be considered by the Legislature.