HB 1633

Bill Subjects

Children And Minors Generally Education Generally Education, Secretary Of Education, State Department And Boards Finance, State Board Of Higher Education, Colleges And Universities Schools Generally (K-12) Schools, Funds And Budgets Schools, Kindergarten Treasurers Welfare, Medicaid

Abstract

Provides that when a person who receives Medicaid has a child born after December 31, 2023, the treasurer of state (treasurer) shall open a college choice 529 education savings plan (529 plan) in the child's name and make a deposit of $250 into the account. Provides that if the student completes one or more age appropriate career exploration activities as determined by the state board of education, and if the child's parent makes certain contributions to the 529 plan, the treasurer shall continue to make intermittent deposits into the 529 plan throughout the child's kindergarten through grade 12 education. Provides that contributions made by a parent to a 529 plan are eligible for a credit against a taxpayer's adjusted gross income. Provides that a parent making a contribution to a 529 plan shall report the contribution to the treasurer. Provides that if a parent contributes volunteer hours to the child's school in lieu of making a contribution to a 529 plan, the child's school shall report the contribution of volunteer hours to the treasurer. Provides that a person in attendance at a live birth shall report to the local health officer whether or not the mother is receiving Medicaid and advise the mother that a 529 plan is being established. Provides that the treasurer shall provide all relevant information to a parent receiving Medicaid regarding the 529 plan contribution program available to a parent receiving Medicaid.