Jubilant Kim Reynolds signs Iowa's seismic 'school choice' bill into law. What it means:

Gov. Kim Reynolds was ecstatic Tuesday as she signed into law a seismic education plan three years in the making.

"What an amazing day for our children!" she exclaimed to a crowd of children, parents, lawmakers and other supporters gathered in the Iowa Capitol rotunda.

Surrounded by private school students, Reynolds, a Republican, inked her signature on a law that will allow any Iowa family to use taxpayer funds to pay for private school tuition — at a cost of $345 million annually to the state once fully phased in.

The sweeping legislation represents Reynolds' third — and most ambitious — attempt to pass some form of "school choice" legislation, a push that has been mirrored in other Republican-led states. In years past, disagreement over her previous proposals dragged on for months before ultimately ending in failure.

But this year, Republicans made use of their expanded legislative majorities to muscle the latest version of the legislation into law by just the third week of the session.