TITLE 33

EDUCATION

CHAPTER 54

COLLEGE SAVINGS PROGRAM

33-5409.  College savings fund. (1) There is hereby created in the state treasury the "College Savings Fund" to which shall be credited:

(a)  Administrative fees and service charges in connection with any agreement, contract or transaction related to the college savings program;

(b)  Fees and charges collected to cover costs associated with the powers and duties of the board as required in section 33-5402, Idaho Code;

(c)  Interest earned on the investment of idle moneys in the fund, which shall be paid to the fund; and

(d)  All other moneys as may be provided by law.

(2)  Moneys in the fund shall be continuously appropriated to the board, and any moneys remaining in the fund at the end of each fiscal year shall not be appropriated to any other fund.

(3)  Moneys in the fund shall only be used to effect the purposes of this chapter, pursuant to the provisions as prescribed herein. The office of a board member is authorized to receive a portion of the moneys approved by the board to defray costs associated with the implementation, administration and oversight of the college savings program, including the administrative activities delegated pursuant to section 33-5403, Idaho Code.

History:

[33-5409, added 2007, ch. 225, sec. 1, p. 678; am. 2013, ch. 110, sec. 5, p. 265.]