SLS 12RS-517 ENGROSSED
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2012
SENATE BILL NO. 458
BY SENATOR LAFLEUR
TUITION. Provides relative to START education savings accounts and for definitions with
respect thereto. (gov sig)
AN ACT1
To amend and reenact R.S. 17:3092(5), relative to the Student Tuition Assistance and2
Revenue Trust program; to amend the definition of institution of postsecondary3
education for eligibility purposes; and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 17:3092(5) is hereby amended and reenacted to read as follows: 6
ยง3092. Definitions7
For the purposes of this Chapter, the following words, terms, and phrases8
shall have the following meanings, unless the context clearly requires otherwise:9
* * *10
(5) "Institution of postsecondary education" means either a state college,11
university, or technical college or institute or an independent college or university12
located in this state that is accredited by the regional accrediting association or its13
successor, approved by the United States Secretary of Education or a public or14
independent college or a university located outside this state that is accredited by one15
of the regional accrediting associations or its successor, approved by the United16
States Secretary of Education or a proprietary school licensed pursuant to Chapter17 SB NO. 458
SLS 12RS-517 ENGROSSED
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
24-A of this Title.1
* * *2
Section 2. This Act shall become effective upon signature by the governor or, if not3
signed by the governor, upon expiration of the time for bills to become law without signature4
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If5
vetoed by the governor and subsequently approved by the legislature, this Act shall become6
effective on the day following such approval.7
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Sherri H. Breaux.
DIGEST
LaFleur (SB 458)
Present law provides for the Student Tuition Assistance and Revenue Trust (START) as a
program of education savings accounts by individuals, groups, or organizations and
provisions for the routine deposit of funds to cover the future educational costs of a
designated beneficiary at an institution of postsecondary education.
Present law defines "institution of postsecondary education" as either a state college,
university, or technical college or institute or an independent college or university located
in this state that is accredited by the regional accrediting association, approved by the U.S.
Secretary of Education or a public or independent college or a university located outside this
state that is accredited by one of the regional accrediting associations, approved by the U.S.
Secretary of Education.
Proposed law removes the requirement that the institution be accredited by the regional
accrediting association, but retains present law that the institution be approved by the U.S.
Secretary of Education.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 17:3092(5))