Steve Fenberg
- Democratic
- Senator
- District 18
Primary
The act modifies the college kickstarter account program (program). The act expands who may open an account and be an account sponsor on or after January 1, 2025, to include, in addition to a parent or parents of an eligible child, any other individual who provides the birth certificate number or order of adoption for an eligible child in accordance with the requirements of the program to open an account. Further, the act clarifies that on or after January 1, 2025, the amount of kickstarter funding that can be claimed is the base amount as adjusted for inflation in the year claimed plus, if the kickstarter funding is claimed in a year after the child's birth year, interest that has accrued on the base amount from the birth year to the claim year. The act also expands the membership of the program advisory board, requires the advisory board to meet at least on a quarterly basis each year, and modifies reporting requirements for the program. The act expands the period during which an account sponsor may claim kickstarter funding from 5 to 8 years from the date of the eligible child's birth or adoption and clarifies that an account is an "individual college savings account", which is any collegeinvest account. APPROVED by Governor May 31, 2024 PORTIONS EFFECTIVE May 31, 2024 PORTIONS EFFECTIVE January 1, 2025(Note: This summary applies to this bill as enacted.)
Governor Signed
Sent to the Governor
Signed by the Speaker of the House
Signed by the President of the Senate
House Third Reading Passed - No Amendments
House Second Reading Special Order - Passed - No Amendments
House Committee on Appropriations Refer Unamended to House Committee of the Whole
House Committee on Finance Refer Unamended to Appropriations
Senate Third Reading Passed - No Amendments
Senate Second Reading Special Order - Passed with Amendments - Committee, Floor
Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole
Senate Committee on Finance Refer Amended to Appropriations
| Bill Text Versions | Format |
|---|---|
| Signed Act (05/31/2024) | |
| Final Act (05/16/2024) | |
| Rerevised (05/07/2024) | |
| Revised (05/06/2024) | |
| Reengrossed (05/03/2024) | |
| Engrossed (05/02/2024) | |
| Introduced (04/26/2024) | |
| PA1 (04/30/2024) | |
| Committee Amendment |
| Document | Format |
|---|---|
| Fiscal Note SA1 (05/01/2024) | |
| Fiscal Note SA2 (05/04/2024) | |
| Fiscal Note FN1 (04/29/2024) | |
| Fiscal Note FN2 (08/01/2024) |
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