Legislation Quick Search
06/21/2021 12:37 AM
Pennsylvania House of Representatives
Home / House Co-Sponsorship Memoranda

House Co-Sponsorship Memoranda

Subscribe to PaLegis Notifications

Subscribe to receive notifications of new Co-Sponsorship Memos circulated

By Member | By Date | Keyword Search

House of Representatives
Session of 2015 - 2016 Regular Session


Posted: March 10, 2015 11:59 AM
From: Representative Todd Stephens
To: All House members
Subject: Allowing for Additional Options to Save for Higher Education

I am introducing legislation to help families save for college.

This legislation will allow judges another option when it comes to preserving money awarded to a minor. Currently, a judge may order funds awarded to a minor, whether through a lawsuit, inheritance or trust, to be placed in a savings account until the minor reaches 21 years of age.

My legislation would amend the law to allow a court to order the funds to be deposited into a “529 account”. A 529 account is an educational savings plan that helps families save for higher education expenses under the Tuition Account Program and College Saving Bond Act. Just as with a savings account, the money could not be removed before the minor reaches majority, unless ordered by a court.

Please join me in co-sponsoring this legislation.

Introduced as HB852