Louisiana House Bill HB650

Louisiana 2018 Regular Session

• Introduced: 3/2/18
• Refer: 3/2/18
• Refer: 3/12/18
• Refer: 3/28/18
• Refer: 3/29/18
• Report Pass: 4/4/18
• Refer: 4/5/18
• Report Pass: 4/23/18
• Engrossed: 5/1/18
• Refer: 5/2/18
• Report Pass: 5/10/18
• Refer: 5/11/18
• Report Pass: 5/15/18
• Enrolled: 5/18/18
• Chaptered: 5/30/18
• Passed: 5/30/18

Caption

Creates a program for education savings accounts for tuition expenses for elementary and secondary schools (EN INCREASE GF EX See Note)

Impact

The bill modifies existing laws to introduce provisions for education savings accounts, managed by the Louisiana Tuition Trust Authority, and specifies the powers and responsibilities of this authority. Among the changes, it applies laws relating to abandoned property to account funds and sets forth administrative procedures including the oversight of payroll withholdings intended for contributions to these accounts. The program designates specific income eligibility criteria, ensuring that a beneficiary's family income is below a certain threshold for participation.

Summary

House Bill 650 establishes the Louisiana Student Tuition Assistance and Revenue Trust Kindergarten Through Grade Twelve Program, referred to as the START K12 Program. This legislation allows for the creation of education savings accounts aimed at providing financing assistance for elementary and secondary education expenses. The program's primary purpose is to enable families to cover tuition costs for their designated beneficiaries by allowing for routine deposit of funds into the accounts, which can be used for eligible educational expenses.

Sentiment

The sentiment surrounding HB 650 is generally supportive, particularly among legislators who view it as a significant step toward enhancing educational accessibility for families in Louisiana. Proponents argue that the bill promotes educational equity by targeting assistance to lower-income families, thereby easing financial burdens. However, there may be concerns regarding the efficacy and sustainable funding of the program, as reliance on state appropriations and the management of the education savings accounts remain points of scrutiny.

Contention

Despite general support, notable points of contention may arise regarding the limitations imposed on account owners relating to income thresholds and the selection of beneficiaries. Critics might argue that such limitations could inadvertently exclude deserving students or create administrative delays. Moreover, questions about the sustainability of the program's funding could lead to broader debates about state budgeting priorities and long-term investments in education.