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H0270aa........................................................by EDUCATION
COLLEGE SAVINGS FUND - Adds to existing law to create the College Savings
Fund; and to provide for deposits to the fund, appropriations from the fund
and uses of the fund.
03/02 House intro - 1st rdg - to printing
03/05 Rpt prt - to Educ
03/06 Rpt out - to Gen Ord
03/08 Rpt out amen - to engros
03/09 Rpt engros - 1st rdg - to 2nd rdg as amen
Rls susp - PASSED - 63-0-7
AYES -- Anderson, Andrus, Barrett, Bedke, Bell, Bilbao, Black, Block,
Bock, Boe, Bolz, Brackett, Bradford, Chadderdon, Chavez, Chew, Clark,
Collins, Crane, Durst, Edmunson, Eskridge, Hagedorn, Hart, Harwood,
Henderson, Jaquet, Killen, King, Kren, Labrador, Lake, LeFavour,
Loertscher, Luker, Marriott, Mathews, McGeachin, Mortimer, Moyle,
Nielsen, Nonini, Pasley-Stuart, Patrick, Raybould, Ring, Ringo,
Ruchti, Rusche, Sayler, Schaefer, Shepherd(2), Shepherd(8), Shirley,
Shively, Smith(30), Snodgrass, Stevenson, Thayn, Vander Woude, Wills,
Wood(27), Mr. Speaker
NAYS -- None
Absent and excused -- Bayer, Henbest, Pence, Roberts, Smith(24),
Trail, Wood(35)
Floor Sponsors - Boe & Mortimer
Title apvd - to Senate
03/12 Senate intro - 1st rdg - to Educ
03/16 Rpt out - rec d/p - to 2nd rdg
03/19 2nd rdg - to 3rd rdg
03/20 3rd rdg - PASSED - 34-0-1
AYES -- Andreason, Bair, Bastian, Bilyeu, Broadsword, Burkett,
Cameron, Coiner, Corder, Darrington, Davis, Fulcher, Geddes, Goedde,
Hammond, Heinrich, Hill, Jorgenson, Kelly, Keough, Langhorst, Little,
Lodge, Malepeai, McGee, McKague, McKenzie, Pearce, Richardson,
Schroeder, Siddoway, Stegner, Stennett, Werk
NAYS -- None
Absent and excused -- Gannon
Floor Sponsor - Pearce
Title apvd - to House
03/21 To enrol - Rpt enrol - Sp signed
03/22 Pres signed - To Governor
03/27 Governor signed
Session Law Chapter 225
Effective: 07/01/07
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-ninth Legislature First Regular Session - 2007
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 270
BY EDUCATION COMMITTEE
1 AN ACT
2 RELATING TO THE COLLEGE SAVINGS PROGRAM; AMENDING CHAPTER 54, TITLE 33, IDAHO
3 CODE, BY THE ADDITION OF A NEW SECTION 33-5409, IDAHO CODE, TO CREATE THE
4 COLLEGE SAVINGS FUND AND TO PROVIDE FOR DEPOSITS TO THE FUND, APPROPRIA-
5 TIONS FROM THE FUND AND USES OF THE FUND.
6 Be It Enacted by the Legislature of the State of Idaho:
7 SECTION 1. That Chapter 54, Title 33, Idaho Code, be, and the same is
8 hereby amended by the addition thereto of a NEW SECTION, to be known and des-
9 ignated as Section 33-5409, Idaho Code, and to read as follows:
10 33-5409. COLLEGE SAVINGS FUND. (1) There is hereby created in the state
11 treasury the "College Savings Fund" to which shall be credited:
12 (a) Administrative fees and service charges in connection with any agree-
13 ment, contract or transaction related to the college savings program;
14 (b) Fees and charges collected to cover costs associated with the powers
15 and duties of the state college savings board as required in section
16 33-5402, Idaho Code;
17 (c) Interest earned on the investment of idle moneys in the fund, which
18 shall be paid to the fund; and
19 (d) All other moneys as may be provided by law.
20 (2) Moneys in the fund shall be continuously appropriated to the trea-
21 surer of the state of Idaho, and any moneys remaining in the fund at the end
22 of each fiscal year shall not be appropriated to any other fund.
23 (3) Moneys in the fund shall only be used to effect the purposes of this
24 chapter, pursuant to the provisions as prescribed herein; provided however,
25 the office of the state treasurer is authorized to retain a portion of the
26 moneys not to exceed ten percent (10%) of the fund's annual revenues to defray
27 costs associated with the implementation, administration and oversight of the
28 college savings program.
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-ninth Legislature First Regular Session - 2007
Moved by Mortimer
Seconded by Boe
IN THE HOUSE OF REPRESENTATIVES
HOUSE AMENDMENT TO H.B. NO. 270
1 AMENDMENT TO SECTION 1
2 On page 1 of the printed bill, in line 26, delete "ten percent (10%)" and
3 insert: "one-half of one percent (0.5%)".
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-ninth Legislature First Regular Session - 2007
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 270, As Amended
BY EDUCATION COMMITTEE
1 AN ACT
2 RELATING TO THE COLLEGE SAVINGS PROGRAM; AMENDING CHAPTER 54, TITLE 33, IDAHO
3 CODE, BY THE ADDITION OF A NEW SECTION 33-5409, IDAHO CODE, TO CREATE THE
4 COLLEGE SAVINGS FUND AND TO PROVIDE FOR DEPOSITS TO THE FUND, APPROPRIA-
5 TIONS FROM THE FUND AND USES OF THE FUND.
6 Be It Enacted by the Legislature of the State of Idaho:
7 SECTION 1. That Chapter 54, Title 33, Idaho Code, be, and the same is
8 hereby amended by the addition thereto of a NEW SECTION, to be known and des-
9 ignated as Section 33-5409, Idaho Code, and to read as follows:
10 33-5409. COLLEGE SAVINGS FUND. (1) There is hereby created in the state
11 treasury the "College Savings Fund" to which shall be credited:
12 (a) Administrative fees and service charges in connection with any agree-
13 ment, contract or transaction related to the college savings program;
14 (b) Fees and charges collected to cover costs associated with the powers
15 and duties of the state college savings board as required in section
16 33-5402, Idaho Code;
17 (c) Interest earned on the investment of idle moneys in the fund, which
18 shall be paid to the fund; and
19 (d) All other moneys as may be provided by law.
20 (2) Moneys in the fund shall be continuously appropriated to the trea-
21 surer of the state of Idaho, and any moneys remaining in the fund at the end
22 of each fiscal year shall not be appropriated to any other fund.
23 (3) Moneys in the fund shall only be used to effect the purposes of this
24 chapter, pursuant to the provisions as prescribed herein; provided however,
25 the office of the state treasurer is authorized to retain a portion of the
26 moneys not to exceed one-half of one percent (0.5%) of the fund's annual reve-
27 nues to defray costs associated with the implementation, administration and
28 oversight of the college savings program.
STATEMENT OF PURPOSE
RS 16878
This bill amends Chapter 54, Title 33 of the Idaho Code by
proposing the creation of a College Savings fund in the state
treasury. Administrative fees and service charges can be
collected and deposited to the fund. Monies in the fund will be
continuously appropriated.
FISCAL NOTE
No fiscal impact.
Contact
Name: Ron Crane
Agency: Idaho State Treasurer's Office
Phone: 334-3200
STATEMENT OF PURPOSE/FISCAL NOTE H 270