Kansas 2025-2026 Regular Session

Kansas Senate Bill SB281

Introduced
2/27/25  
Refer
2/28/25  
Refer
3/3/25  
Report Pass
3/19/25  
Engrossed
3/24/25  

Caption

Substitute for SB 281 by Committee on Government Efficiency - Removing the treasurer's authority to accept and approve applications for the low-income family postsecondary savings accounts incentive program in 2028 and reducing the number of grants available and the number of audits required for such program.

Impact

The bill will amend existing statutes and create new structures within the Kansas treasury, particularly focusing on the management of education savings accounts. It will facilitate the establishment of dedicated trust funds for both the postsecondary education savings program and the ABLE savings program. This reallocation and creation of funds will ensure that the financial resources aimed at helping families with education costs are properly managed and allocated. The introduction of a matching grants system, where state funds will match contributions dollar-for-dollar up to certain limits, encourages participation and savings among eligible families.

Summary

Senate Bill 281 aims to establish the Kansas postsecondary education savings account and the Kansas ABLE savings account grant incentive program. This legislation is designed to provide financial support to families saving for higher education and disabilities through tax-advantaged savings methods. The newly created program will replace the existing low-income family postsecondary savings accounts incentive program, which had previously provided similar support. By introducing this new framework, the bill seeks to simplify and enhance the state's approach to educational savings, making it more beneficial for families in need.

Contention

One notable point of contention within the legislative discussions may revolve around the elimination of the previous low-income family postsecondary savings accounts incentive program. The move to a new structure could raise concerns among stakeholders who benefitted from the former program. Additionally, there may be debates around the adequacy of the matching grant limits and whether they sufficiently meet the needs of lower-income families who may still struggle to save for education despite these incentives. Discussions regarding the distribution of funds and the effectiveness of financial education requirements imposed on participants are also likely areas of contention.

Companion Bills

No companion bills found.

Previously Filed As

KS SB155

Substitute for SB 155 by Committee on Ways and Means - Making and concerning appropriations for fiscal years 2023, 2024, 2025 and 2026 for various state agencies.

KS HB2416

Senate Substitute for HB 2416 by Committee on Assessment and Taxation - Enacting the adoption savings account act, allowing individuals to establish adoption savings accounts with certain financial institutions, providing eligible expenses, requirements and restrictions for such accounts and establishing addition and subtraction modifications for contributions to such accounts under the Kansas income tax act.

KS SB360

Allowing a taxpayer to elect the taxable year in which a subtraction modification for contributions to a 529 program account, ABLE account or first-time home buyer savings account would be applied and authorizing the state treasurer to appoint a 529 program advisory committee.

KS SB514

Substitute for SB 514 by Committee on Ways and Means - Making and concerning supplemental appropriations for fiscal years 2024 and 2025 and appropriations for fiscal years 2025, 2026, 2027 and 2028 for various state agencies.

KS HB2064

Establishing the Kansas employee emergency savings account (KEESA) program to allow eligible employers to establish employee savings accounts, providing an income and privilege tax credit for certain eligible employer deposits to such employee savings accounts and providing a subtraction modification for certain employee deposits to such savings accounts.

KS SB42

House Substitute for SB 42 by Committee on Appropriations - Exempting rural emergency hospitals from the hospital provider assessment and establishing residency and other requirements for membership on a hospital board.

KS HB2273

Substitute for HB 2273 by Committee on Appropriations - Making and concerning certain supplemental appropriations for fiscal years 2024 and 2025 and appropriations for fiscal years 2025 and 2026 for various state agencies.

KS SB83

House Substitute for SB 83 by Committee on K-12 Education Budget - Making appropriations for the state department of education for FY 2024, establishing the sunflower education equity act to provide education savings accounts for qualified students, requiring school districts to provide a salary increase to all licensed teachers and defining enrollment of small school districts as the highest enrollment from the preceding four years under the Kansas school equity and enhancement act.

KS HB2414

Substitute for HB 2414 by Committee on Commerce, Labor and Economic Development - Developing postsecondary engineering programs, providing scholarships for engineering students at certain public and private institutions of higher education by establishing a matching grant program to be administered by the secretary of commerce and creating the engineering graduate incentive fund.

KS HB2757

Enacting the adoption savings account act, allowing individuals to establish adoption savings accounts with certain financial institutions, providing eligible expenses, requirements and restrictions for such accounts and establishing addition and subtraction modifications for contributions to such accounts under the Kansas income tax act.

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